It can be quite challenging to find the best provider of professional marketing services. That’s because you need to find a credible firm that employs resources with the most suitable skills, knowledge and expertise in your target niches and in the industry where your business operates. You also need to make sure that they can cost-effectively manage your talkingAds outsourced team while they’re doing their day-to-day promotional activities for your business. This means you should verify that they have the right managerial, administrative, technical and quality assurance systems in place.
Appropriate tools and technologies can also equip your outsourced staff to efficiently perform their daily duties and responsibilities for your promotional campaigns. A conducive work environment with the right back end support resources can go a long way in increasing the productivity of your team, all while motivating them to continue doing their best to hit your target objectives and goals for your business. Otherwise, it can take them longer to complete their day-to-day tasks without the necessary tools and technologies.
Aside from requiring more manpower hours to properly do a set of tasks for successfully promoting your brand across your ideal markets, which can cost more money — You also need to deal with the opportunity costs involved in missing certain trends and breakthroughs that can alter the relevant behavior of your target customers. For example, think of all the businesses out there that closed down right after Google implemented Panda and Penguin into their ranking algorithms. Now, imagine those that jumped over their top competitors after accurately predicting these changes, which allowed them to formulate and implement all necessary adjustments to their promotional campaigns in Google for their target keywords.
You also need to ensure that your chosen provider of professional marketing services has the right B2B (business to business) connections. For example, they should already have partnership deals with certain advertising networks, affiliate portals and content publishing platforms that can be significant to the success of your promotional campaigns. Another key advantage is for an agency to have partnership deals with the right payment processors that can offer the most suitable payment options to your target customers. Otherwise, you’ll be waiting in line until your applications for joining these networks are approved, which can take a long time.
To help you figure out if you really need the right agency to provide you with the marketing services that can boost your promotional results this 2019, found below is a list of the top 5 business models that can greatly benefit from what a credible marketing firm has to offer. Carefully review this list, and you’ll be able to identify if your current venture fits any of these business models:
5 Business Models This Year That Can Benefit From the Right Professional Marketing Services
- Advertising Model — This is where your main product is given away without any cost for the customer. Similar to a variety of print publications like magazines and the like, many more modern products like apps, online platforms and so on are continuing to use this business model. From the likes of Google and Facebook to Bing and Skype, users can freely access these platforms without paying anything, and the operators of these portals and apps are continuing to benefit from advertising revenues. However, keep in mind that you need significant traction across a huge market before advertisers are likely to pay attention to your paid placements. This is why this model requires the right marketing services to be taken to the next level and to constantly be several steps ahead of competing brands.
- Freemium Model — This is where your main product is still available for your target customers without any upfront cost to them. You can profit from this business model through premium features that can be unlocked with either one-time payments, or recurring subscription fees. The first thing you need to do for this model to work is to successfully convince a lot of your ideal prospects about the beneficial advantages that your main product can provide them. Once they sign up, your next task is to again convince them that your premium features can provide them with more value, which they should be willing to pay for. On both levels, you’d need the right professional marketing services to cost-effectively pull this off.
- Traditional Model — This is where your main product is sold for twice to four or five times your cost of production. A significant part of your markup is then used to cover operating costs, ongoing support services and your promotional activities to sign up more customers. What’s left is your end profit, which you can then use to re-invest in creating new offers and products for your ideal prospects and existing customers, in order to generate new sales and repeat business margins. From the beginning of this sales chain down to monitoring your results to tweak your tactics and strategies, the services of the right professional marketing agency can greatly help you hit your objectives and goals.
- Subscription Model — This is where all features of your main product can be accessed by your target customers for a low recurring subscription fee. Netflix is a good example of a product that operates through a subscription-based model. A primary advantage of doing this for you as a business owner is the longer lifetime value that you can get from your ideal prospects, which can generate recurring profits for you. On the other hand, your customers can benefit from the ability to pay low fees to access all features of your product. Some of the tactics that you can come up with through the right provider of marketing services is to offer a trial period to compel more of your target prospects to test out your product. Of course, they’d also be able to significantly help when it comes to drawing in more highly convertible traffic to your latest offers.
- Per Transaction Model — This is where you charge your customers a set of fixed fees for each type of transaction that you perform for them through your platform or back end services. This is the model that’s used by affiliate companies like Amazon and Alibaba, as well as third party tiered merchant processing providers. Professional marketing services can help build up your network of customers, which is the main reason why many of these companies are continuing to work with credible agencies for their promotional campaigns this year.