Smaller agencies, often overshadowed by industry giants, are always looking for ways to level the playing field. One way is to deploy Self-Directed Marketing Mix Models into their workflow. By taking advantage of SDMMM, independent agencies can expand their scope, build expertise and develop staff skills while also boosting their revenue. This enhances their competitive edge and ability to win pitches. Here’s a closer look at how self-directed MMM benefits small advertising agencies:
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Increased billing potential
Self-Directed MMM can help small agencies take on more tasks and analyze their clients' businesses more effectively. This leads to having a bigger role overall. Traditionally, agencies outsource MMM to point solution vendors or rely on services within the network. This usually means MMM is “out of scope” in the defined services agreement and is an incremental project, proposed and billed separately. This leaves the most impactful media effectiveness tools as nice-to-haves instead of part of the foundation. Self-Directed MMM lets small agencies add MMM setup, upkeep, and analysis to their core services. This allows them to accurately measure how each marketing channel affects their client's business and use this information to plan their media strategies.
Using this data-driven method, all agencies can bring cross-media optimization to the forefront. This means the advertiser's goals of boosting sales, building stronger brands, and making effective media decisions becomes a shared effort. This leads to better relationships between clients and agencies. By showcasing a transparent link between their efforts and favorable business outcomes, smaller agencies can request bigger and more frequent projects. Their ability to measure the impact of their refined marketing strategies gives them the confidence to do so.
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The ability to compete with larger agencies
In the past, small agencies may have felt disadvantaged competing against larger counterparts with extensive network resources at their disposal. Self-Directed MMM has the potential to level the playing field because front line media staff will be intimately familiar with how MMM fits into their client’s business while being extremely agile in their use. Self serve MMM beats network dedicated teams in speed, utility and cost every time.
It’s also worth mentioning that Arima’s self-directed MMM allows agencies to create an unlimited number of models at no extra cost. This tool provides a lasting competitive edge to small agencies, with the potential to become a self-sustaining investment over time.
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Winning Pitches and Gaining Client Trust
Securing new clients is a fundamental aspect of agency growth and winning pitches is essential. While having the right tools are critical to being on the short list, demonstrating the most powerful planning processes, staff expertise and competitive pricing wins the pitch.
Self-Directed MMM provides small agencies with a powerful tool integrated into their base service. Crafting a comprehensive marketing strategy based on quantifiable MMM insights instills client confidence. This approach is rooted in data and can drive measurable results.
In today's marketing world, data is key. Small agencies can capitalize on their nimbleness by optimizing their tech and workflow. Self-Directed Marketing Mix Modeling is a chance for them to shine, boost earnings, compete with larger rivals, and win pitches with confidence. With data-driven insights, small agencies can position themselves as valuable partners, armed with the tools needed to drive meaningful results and cement their position in the competitive marketing landscape.