Advertising communication and Agency
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The document discusses the relationship between advertisers and advertising agencies. It explains that agencies work to structure client relationships through formal contracts that define objectives, payment methods, and responsibilities. Agencies tailor account teams to interface with client marketing departments through regular meetings. These meetings aim to manage projects and make decisions, with the advertising budget being a central topic that agencies help set, though budgeting approaches can be simplistic like percentage-of-sales models.
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The document provides an overview of search engine marketing and pay-per-click (PPC) advertising. It discusses key benefits of PPC including large targeted traffic, easy measurement of ROI, and cost effectiveness. Challenges include slow adoption, complexity, and time requirements. The document outlines best practices for successful PPC campaigns including defining goals, keywords, budgets/bidding, and tracking. It also discusses the importance of factors like geography, time of day, negative keywords, and quality scores. Automation and third-party tools can help address challenges for small/medium businesses.
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The document discusses various methods for setting an advertising budget, including the affordable method, percentage-of-sales method, competitive-parity method, and objective-and-task method. It notes that the objective-and-task method is generally considered the most logical as it involves defining objectives, determining tasks to achieve them, and estimating costs, but it is also the most difficult to implement. The document also provides an overview of factors that influence the relationship between advertising spending and sales, such as threshold, carryover, and wear out effects.
Leeds Digital Festival: How to justify your marketing spend to your boss
Research shows that many marketing managers and executives are frustrated with the constant budget restraints and pushback that they face when trying to plan their company's marketing.
Is this you? If so, we’re here to tell you that it doesn't have to be this way.
In this webinar, Danni and Fran will discuss the common concerns and priorities of bosses or upper management when it comes to marketing spend.
We'll also share some proven strategies for aligning marketing objectives with the overall business strategy, proving the ROI of your marketing efforts, and building strong relationships with your boss and stakeholders.
By the end of this webinar, you'll have the tools and knowledge you need to justify your marketing budget and get the resources you need to succeed.
Competitive Strategies And Environment
The document discusses competitive strategies and the business environment. It covers how business strategy is created through analysis of internal resources and the external environment. Key aspects of strategy include formulation, implementation, managing competition through pricing and communication. Understanding customers is important, and tools like conjoint analysis can provide insights. Effective strategies consider the nature of the operating environment and routes to achieving competitive advantage like focusing on areas of strength. The effectiveness of strategic systems should be evaluated based on factors like alignment with goals and flexibility.
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