Just about two months ago, we signed Bestie Bag on as a new client. You may recall the blog post about this product development client. We took the original idea of a bag designed for kids with sensory learning problems and turned it into a product that all tween girls can enjoy, the Bestie Bag. See the blog post here, if you missed it!
The product development thus far has been remarkable. We’ve made slight improvements on the design and introduced the Bestie Girls. The bags are currently being manufactured, and we’re looking to launch the product on December 1st. The Bestie Girls each represent a different bag, color, and personality. Each bag comes with an exclusive Bestie Girl key chain, pictured below. These characters are original designs from our newest graphic designer, Ligia Barao. Ligia and I have been working hand-in-hand to bring this concept to life, and we couldn’t be more proud of our accomplishments so far!
Zoey, to start with, loves to bake. The yellow of her Bestie Bag reminds her of her favorite recipe – her grandma’s lemon bars!
Claire loves nature and animals. She even has her own dog, Luna, who will be officially introduced by our launch date.
Rachel is all about fashion and music. She’s the one to turn to if you’re looking for the coolest new band or fashion accessory.
Katie loves sports. She’s always up to try something new, but she’d never turn down a game of basketball or soccer.
Vanessa is a movie buff. She’s a big fan of comedies. She tells the best jokes and goes out of her way to make everyone laugh.
To continue the new product development process for Bestie Bag, we have been doing a lot of social and PR work. Check out our Facebook and Twitter pages! We’ve been featured in Texas Lifestyle Magazine’s Holiday Gift Guide and should be featured in more as they come out. We’ve also just started planning for a tween focused trade show that we’ll be attending in January.
Keep an eye out for more product development news because there’s a lot more to come!
You can learn more about the Besties on our landing page. Be sure to check back on December 1st to see our all new e-commerce site!
This week, I sat down with one of our local Tri-State area clients at a crossroads. (I’d like to mention who it was because I’m very proud of the work we’ve done thus far, but for the purposes of this story they will remain nameless). We have provided them marketing consulting services for the better part of a year and they want to know what the results we’ve gotten so far. It’s a position we’ve been in before, defending our services in the eyes of a client that doesn’t see the big picture. This time it got me thinking though.
How exactly do you measure marketing consulting services?
Most clients want to make an exact dollar for dollar match to what marketing consulting services cost them and what they bring in. Because of course they do. It’s only rational to equate these in comparison.
But that’s not the whole picture. There’s so much more that goes in to what we do for our clients. For example, how do you measure rebranding? What about a public relations hit in a local Westchester magazine? Are there quantifiable sales that come from a new website design?
Now, most of the time these more ethereal marketing consulting services are measured by words like “awareness” and “buzz” and “mindshare.” I’m not saying that’s how you should track and grade a marketing firm, because it isn’t. Squishy metrics like these do both the client and the agency a disservice. They’re lazy. They’re intangible. They’re worthless.
With that said, there are things you can use to track effectiveness of any marketing initiative though. In fact, you can judge the value of most marketing consulting services to your business by just a few simple criteria.
In thinking about the challenge presented to me at our Westchester offices, I cataloged everything we did for this particular client in my head. Then, I started connecting the dots of our strategy in order to ask what it all meant. In a way, I sort of put myself in the client’s shoes. And then it hit me.
I realized that the sum total of all our marketing comes down to three simple things:
Yes, you want to sell every customer that comes into your world. Convert every lead. Monetize every action. And marketing consulting services everywhere should strive to do that. But life isn’t that simple, is it?
You need fresh customers to know about you. However, there are different levels of customer. Some may buy from you. Some may want to keep tabs on you for different products and prices. Some may aspire to buy from you one day. All of these I would call “customers.” But because they didn’t actually hand you money yet doesn’t mean marketing consulting services have failed. You’re on their radar because of your marketing. The more you contact these people, the sooner they’ll buy.
Pricing strategy, conversion percentage and overall leads driven all should factor in to how you judge the job we do. That’s undeniable. But while this is an important factor, it’s not all that goes into how much marketing consulting services may be worth to you. In fact, even more important might be…
Hypothetically speaking, if I drove five new customers to you, but all of them became heavy users/long-term clients/repeat buyers, would that be worth more than 50 clients doing business with you once?
The first purchase can’t be all your marketing is measured by. You need to look at the lifetime value of that customer your marketing brought into your world. This is especially important for high-ticket or service-based clients. Quality over quantity, right?
To do this, you will need some sort of customer management system that helps you determine worth in the long run. It sounds tedious, but it’s the type of thing high-value marketing consulting services do for their clients. Which brings me to my next point…
Of course you can do all the media planning and marketing coordination on your own. And if you’re especially good at it or enjoy it or don’t have anything better to do, by all means do it. But really think about the business you run. Are there deals to close? Customers to sell? Operations to oversee? Is your time better spent marketing or actually running a business?
With so many day-to-day tasks and endless options to consider, marketing ain’t easy these days. Branding, logo design, advertising, digital marketing, local publications, local TV advertising, public relations, social media management, production, etc. These things take time, effort and forethought. Having a marketing partner on your side not only frees you up to not have to think about all that, but also sets you up with top-notch representation to your customers. When done right, it should be a win-win.
Most business owners do opt for the do-it-yourself approach. I see it every day. The problem with this is your attention is divided between all the minutiae and actually running your business. I understand that if you have chops for marketing you can make it work, but if you go out there with subpar materials where your marketing sucks and you know it (Hey, that sounds like a great name for a book), then you’re not going to be successful.
It’s easy to overlook time and energy saved when calculating value provided by marketing consulting services. But when you have a marketing machine working in the background giving you the firepower you need to win customers, that’s priceless.
It’s these three areas at which we excel at MSCO. Our Westchester marketing consulting services take into account the full picture of what we offer our clients. As for the business in question, they’re still with us and looking forward to a robust 2015 plan. One where we’ll be judged not just by up front sales, but by the sum total of everything we do for them.Read More
Last week, MSCO began work with our newest client, Coco Training and Consulting. We’re excited, as always, to explore new opportunities, not only for this brand but for MSCO as well. We envision a strong future with Coco Training and can see multiple ways to work with and expand this business.
Coco Training delivers everything from executive coaching to sales management leadership and sales career training. To begin with, we have taken a look at their sales career training program. After careful consideration, we determined this to be their most promising branch. In order to position Coco Training as the experts they are, we needed a new approach.
From the very first meeting, it was clear that Larry Coco, President at Coco Training, was extremely passionate about his work. He aims to find the inspiration that exists behind each and every sale. With that in mind, we branded this branch of Coco Training as A Higher Sale.
Our new messaging reflects the passion behind his work. We’ve completely removed the standard sales gimmicks from our approach. Instead, we focus on Coco’s unique methodology: By identifying and acting on the power of inspiration, you can become an elite sales professional. That is how A Higher Sale works.
You can check out our initial branding on our landing page here. Moving forward, we are working on launching a PR and social campaign for A Higher Sale, among other things.
Stay tuned for the latest news regarding Coco Training and all of our other clients!