Agencies that have been responsible for marketing a product through whatever means they think are effective are now having their services taken over by consulting firms. Businesses are looking at ways they can increase their exposure to potential customers.
Chief marketing officers (CMOs) of marketing agencies are finding that strategies for advertising are now all down to data. In other words it’s not the adverts that are effective, but it’s what the customer is really seeking that matters the most. For example, if a business markets minty flavored chocolate and it attracts a certain volume of customers how can it be established that raspberry flavored may sell even better?
The company Omnicom has opened a digital consultancy agency which it calls Hearts & Science that is designed to analyze customer behavior through digital means. It’s not quite the old-fashioned TV ad style either. It is building up quite a reputation for its tactics as it has already attracted two big clients Proctor & Gamble and AT&T. It uses specialist consultants to undertake the analysis.
Consultants use data to drive business
Any type of agency including those involved with legal marketing will have to be really pro-active if they don’t have consultants on their payrolls especially in relation to business strategy and the role of technology in marketing, in order to keep pace with consulting firms. There is a bit more to a successful marketer than being creative these days. Data is the tool being used by consultants to market a product not just the creation of an advertising campaign. The data is used to determine what attracts customers and what keeps them buying.
New forms of advertising need to be adopted by legal marketing agencies
If a legal marketing firm, for example, wants to increase its bottom line and attract customers for its legal clients, it means it will have to invest more in technical talent such as analysts, designers and software agencies who can adjust quickly to changing conditions and construct appropriate tools to entice customers. Creating effective ads on TV is no longer going to be the way of the future. It’s through the use of consultants who will determine the next move to drive a product towards the potential customer which will be the key to selling a product while retaining the customer base.
Big consultancy businesses like Accenture and Deloitte are turning into fast growing digital agencies. Deloitte has bought a large number of creative agencies, while at the same time Accenture Digital was recently seen as the biggest digital agency networker and was growing at an unprecedented pace. Ordinary advertising agencies will quickly have to respond to these tactics, including law marketing firms. Even food giants like Del Monte Foods is hiring the data based consultancy firm, Epsilon to develop suitable marketing strategies.
The use of data is sophisticated and specialized, but it gets to the roots of how customers think and react to experiences and what they are after. It’s this vital information that enables the development and implementation of a 5 star legal marketing experience that can be customized to individual attorneys or used on a larger scale with a legal firm consisting of many attorneys.