Evaluating The Effectiveness Of A Local Marketing Firm
April 18, 2023
For small businesses and SMEs that choose to use the services of a local marketing firm, selecting the right firm is an essential goal achievement. Marketing firms offer a range of services that can help small businesses reach target audiences and increase their visibility. In today's competitive landscape, small businesses must ensure that their marketing efforts are effective and cost-efficient. With so many options available, however, it can be difficult to decide which marketing firm is best suited for a particular business and if the marketing firm’s strategies are being successful.
Reasons to Go with a Local Firm
A local marketing firm understands the needs of local customers and have access to local resources. It can create campaigns tailored to the demographic and geographic area of the business, thus, helping the business reach potential customers more effectively. Additionally, a local marketing firm will have established relationships with media outlets in the region, which makes it easier to get exposure for a business’s products or services.
Working with a local firm gives businesses the opportunity to collaborate with experienced professionals who understand customer behavior and trends of the local market. Experienced professionals will be well-versed in how to best promote a business in its specific market, taking into account its unique characteristics and needs. By leveraging the expertise of a local marketing firm, businesses can increase their awareness and brand that will ultimately generate leads and increase sales while still staying within a budget specifically designed for a small business.
Factors to Consider
Depending on the product or service, size of the city, target market, etc., it can be difficult to know which marketing firm is best suited for a particular business. It is important to consider factors such as experience, pricing, services offered, customer service, and experience in the latest trends and technologies in digital marketing when selecting a marketing firm.
After choosing and working with a local marketing firm for a period of time, the following are ways to measure whether the firm has been successful in its efforts or not:
1. Was there an increase in sales? This objective is one of the most straightforward ways to measure the effectiveness of a marketing campaign and that is to simply track the number of sales generated as a result of the campaign.
2. Was there an increase brand awareness? This objective could be measured for success if a comprehensive marketing plan was developed that included strategies such as social media advertising, content marketing, and public relations.
3. Was there an increase in sales leads? This objective could judge if lead generation strategies were implemented such as email marketing campaigns, search engine optimization, and paid search advertising and if successful or not.
4. Was there an increase in sales conversions? This objective could involve judging the effectiveness and optimization of the business’s website and landing pages leading to an increase in the number of visitors who took a desired action, such as completing a contact form or making a purchase.
5. Was there an improvement in customer retention? This objective could review whether or not the marketing firm developed a customer loyalty program, mentored the business on how to provide exceptional customer service, and how the business could regularly engage with customers through email marketing or social media.
6. Was there an expansion into new markets? This objective could involve how effective the marketing firm was at researching and identifying new target markets, helping to develop new products or services to meet the needs of the new market, and whether a targeted marketing campaign was implemented to reach new potential customers.
7. Was there an increase in the business’s brand reputation? This objective could involve whether the marketing firm assisted in developing a strategic approach and an understanding of how to effectively communicate with customers, employees, and other stakeholders.
8. Was there an increase in positive customer feedback? This objective could involve reviewing if customers responded positively to a business’s marketing campaigns, leaving positive reviews, and engaging with the business on feedback regarding products and services.
Was Value Provided?
By taking all the above factors into consideration, a business can determine if value was provided by the marketing firm and if the relationship should continue into the future. Marketing is an investment in the success and long-term growth of a business. If there is a positive return on investment (ROI), then the marketing firm, strategies, and campaigns have been successful. If not, then there is no reason to continue with the same marketing firm and approaches taken. With many different marketing firms in most local markets and types of marketing that can be used to promote a small business or SME, change is imperative if marketing is not proving to be successful.