Next Generation Marketing - Why Business Leaders are Turning to Virtual Marketing Management - Webflow
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Next Generation Marketing Why Business Leaders are Turning to Virtual Marketing Management Written by: Alexandra King BBA Stephanie King MBus (Marketing), BAppSc(Ex&SpSc) Lauren Ryan MBA (Marketing), BAppSc(Ex&SpSc) Published: July, 2020
Virtual Marketing Management | Next Generation Marketing ©
Table of Contents
03 Executive Summary Introducing: Virtual
24
Marketing Management
04 Abstract A hybrid approach
Global Business 26 Problems and Solutions
05 State of Play 2020 Market Challenge 1
Environmental sustainability The marketing function is siloed
Virtual work trends Market Challenge 2
Resourcing is not easy
The rise of co-working spaces
Market Challenge 3
Outsourcing senior roles Internal team lacks strategy & leadership
Acceleration of digital Market Challenge 4
Cybersecurity; a non-negotiable There is a limited marketing budget
Market Challenge 5
Visibility and control are important
12 Global Marketing Trends
Market Challenge 6
The rise in marketing expenditure There is outsourcing dependency
Digital at the forefront Market Challenge 7
Marketing recruitment, Searching for a unicorn
development and training Market Challenge 8
The structure of the Lack of genuine brand buy-in
marketing function
Marketing recruitment,
development and training
Virtual Marketing
The structure of the
33 Management: How it works
marketing function Breakdown of key responsibilities
The increased expectation A phased approach
on marketing ROI
Delivering ROI is the #1 priority
How the VMM approach supports
Australian SMEs business growth
17 State of Play 2020 The ask Marketing vision
The marketing spend of Australian SMEs
Australian SME marketing structure 38 Authors
The in-house marketing team
Freelance marketing 39 The Network
The agency model
40 Resources
2
Virtual Marketing Management | Next Generation Marketing ©
Executive Summary
If 2020 has taught us anything, it’s that Until now, SME CEOs and business
change isn’t coming. It’s already here. leaders have had to make the decision
Small businesses, the engine room of the whether to hire an internal team,
Australian economy, are being forced to outsource their marketing function,
think and do things differently. Changing or manage with a combination of both.
consumer behaviour, digital marketing
trends, technologies and the impact of Regardless of the approach taken,
COVID-19 have drastically contributed effectiveness stems from a strong “link”
to refocusing and reshaping the needs between the C suite strategic leadership
of business leaders. and the marketing team. However,
without a corporate budget for marketing,
COVID-19 has had a bigger impact on SMEs often experience this “missing link”.
marketing and advertising than the
global financial crisis (GFC). Businesses’ Without effective leadership between
marketing functions have been scrutinised the marketing team (in-house or
throughout the pandemic, but digital outsourced and the decision-makers,
marketing, in particular, is now emerging businesses often suffer from:
as the most valuable channel to rebuild the marketing function becoming
revenue streams and reap strong siloed, challenges with resourcing,
ROI given the restricted budgets. a lack of centralisation, strategy
and leadership, business
Businesses are rapidly shifting their dependencies on outsourced
marketing models to suit. With the most solutions, lack of internal capabilities
important questions to do this being: and a lack of genuine brand buy-in.
1. How should the new marketing
function be structured
The purpose of this paper is not to
sell a ‘one-size-fits-all’ marketing
solution. This simply does not exist.
2. What are the capabilities,
technologies and programs
that are critical to the success
Rather, we introduce the new
hybrid approach to marketing,
of the marketing strategy delivering the strategy, direction and
results for a fraction of the price tag of
3. How to ensure a results-focused
strategy and gain competitive
advantage with the new budget allocated
traditional approaches. We explore how it
works and why more and more business
leaders are embracing this new solution.
3
State of Play 2020 Virtual Marketing Management | Next Generation Marketing ©
Abstract
Business is changing. The marketing freelance or agency model, each with their
function is evolving and for the first time, own pros and cons, price tags and results.
business leaders are starting to turn
to Virtual Marketing Management as In 2019, ask Marketing introduced Virtual
an alternative, cost-effective solution Marketing Management (VMM) as a
for their marketing requirements. new hybrid working approach to solve
businesses’ marketing needs. With an
Thirty years on from Tim Berners-Lee’s efficient price tag and exceptional results,
invention of the World Wide Web in 1990, we the VMM model is optimal for SMEs and
are more connected than ever. Marketing has start-ups who require senior-level marketing
become a major business function globally, management and growth, without the high
and thanks to technological advancements, cost of an internal Marketing Manager.
its significance knows no geographical or
cultural bounds. Businesses large and small The global pandemic of 2020 has
can now infiltrate and attract any market, accelerated the need for many
through powerful, digital strategies. businesses to rethink their activity,
working arrangements, expenses, digital
To date, there have been three main presence and bottom line. Thus, fast-
marketing structures available to tracking the uptake of the VMM approach
businesses globally; the in-house, - a viable new formula for SMEs globally.
4
Virtual Marketing Management | Next Generation Marketing ©
Global Business
State of Play 2020
2020 has been a tumultuous Despite the pandemic, but
year across the globe, with even more so now, businesses
every industry being impacted worldwide are striving to operate
by the global pandemic in a lean and agile way. Whilst
caused by COVID-19. But it profit margins have always been
did not start out this way. the objective of any enterprise,
networked technology has opened
According to Market Watch, the door for increased efficiencies
at the beginning of 2020, the across every industry and lifestyle,
global economy was looking enhancing the possibility of this.
strong, with positive predictions Other major business concerns
for the decade to come. No one and trends to kick off the new
could have predicted that three decade include: environmental
months later, the World Health sustainability, the rise of virtual
Despite the Organisation would declare a global work, the modern dynamic of
pandemic, pandemic, leading to the closure ‘co-working’ office arrangements
but even of businesses worldwide. From an and how the world has succumbed
optimistic beginning to the cusp to the digital landscape and
more so now, of a recession, unseen since the threats of cybersecurity.
businesses great depression of the 1930s
worldwide (IMF), 2020 has taken a major turn.
are striving to
operate in a lean
and agile way. The Great Lockdown
The world economy will experience the
worst recession since the Great Depression
Source: IMF, World Economic Outlook
5
State of Play 2020 Virtual Marketing Management | Next Generation Marketing ©
Environmental sustainability
There is an show a 48% drop in
increasing focus on tropospheric nitrogen
being environmentally dioxide in the atmosphere
sustainable, both in our in 2020 compared
48%
personal lives but more to 2019. Smog rates
impactfully in the world of globally are at their
business. Pressure from lowest in years, and
both governments and according to the United
the public is being placed Nations, the world’s
on all levels of enterprises oceans are benefitting
drop in tropospheric
to do more to operate with from the reduced
strong environmental pollution, overfishing nitrogen dioxide in the
ethics. Thanks to the and the impacts of atmosphere in 2020
COVID-19 lockdown, climate change.
compared to 2019.
environmental benefits of Lockdown has
humanity ‘slowing down’ certainly highlighted
have been seen across the environmental benefit
the world, with drastic of working remotely
results. In a study by The and improvements
American Association driven by reduced
of Advanced Sciences, commuting through our
satellite measurements major towns and cities.
6
State of Play 2020 Virtual Marketing Management | Next Generation Marketing ©
Virtual work trends
Superfast broadband and the and The Kung Group have revealed
rollout of 5G, paired with video 74% and 65% of CFOs respectively
conferencing and organisational have already reported they intend
applications, makes it now to make the shift to remote work for
possible to start, manage and some employees a permanent one.
62%
grow businesses virtually. The
past decade has seen a gradual Looking locally, in June 2020,
shift in both the mindset and the ask Marketing conducted an
enablement of this. According intensive primary research survey.
to Tech Republic, remote work The survey was completed by
increased by 400% between 100 Australian SME CEOs and
of respondents worked
2010 and January 2020. Business Leaders. The core from home or had
objective was to understand the flexible arrangements
Come March 2020, businesses pre, during and post-pandemic
globally were forced into changes to business operations. in their businesses
shutdown, further expediting before COVID-19.
virtual work arrangements. The survey found that 62% of
respondents worked from home or
In a global study by Buffer of over had flexible arrangements in their
3500 remote workers, 98% said businesses before COVID-19. And
they wish to continue working further to this, 88% of respondents
remotely, at least some of the said they would continue to work
time, for the rest of their career. from home, or have a combination
of in-office and home-based
Similar global findings by Gartner working after COVID-19.
Would you like to work remotely, at least
some of the time, for the rest of your career?
Yes 98%
No 2%
Source: State of Remote Report 2020,
buffer.com/state-of-remote-2020
7
State of Play 2020 Virtual Marketing Management | Next Generation Marketing ©
In the same survey, 100% of setting, means more
respondents said they adapted businesses are going to be
well to the forced COVID-19 culling their ‘in-office’ numbers
100%
working arrangements. and allowing for flexible
working arrangements.
With a growing emphasis on
maintaining a positive work-life It must also be noted however,
balance combined with saving that completely virtual-based
the planet, working remotely work arrangements can have
of respondents said
is becoming more and more some major challenges. they adapted well to
favourable for businesses. the forced COVID-19
Lowering overhead costs, whilst These challenges are now
delivering on employee’s needs. brought to the forefront as
working arrangements.
By adding back the hours spent businesses continue to optimise
commuting to and from the office their new working conditions.
What is your biggest struggle with working remotely?
Collaboration and
communication 20%
Loneliness
Not being able to unplug
Loneliness 20%
Not being able to
unplug 18%
Collaboration and Distractions at home 12%
communication
Distractions at home Being in a different
timezone than teammates 10%
Staying motivated 7%
Taking vacation time 5%
Finding reliable wifi Being in a different
timezone than teammates Other 5%
Other
Staying motivated
Taking vacation time
Finding reliable wifi 3%
Source: State of Remote Report 2020,
buffer.com/state-of-remote-2020
8State of Play 2020 Virtual Marketing Management | Next Generation Marketing ©
The rise of co-working spaces
25,968
A solution to the lack hot desk or rent an office
of collaboration and for a meeting, for a day,
loneliness outlined above, week or month if required.
is the rise of ‘co-working’ In a study by Inc, in
spaces such as Impact 2018, there were 2,188,
co-working spaces Hub. These facilities offer co-working spaces
are expected to open a sense of community located around the world
and productivity without and by 2022, there
globally by 2022. the price tag of a large are to be an estimated
office space. They allow 25,968 co-working
teams and individuals to spaces globally.
9State of Play 2020 Virtual Marketing Management | Next Generation Marketing ©
Outsourcing senior roles
Alongside remote working However, Senior Marketing
conditions, outsourcing business leadership roles have been less
leadership functions is also commonly outsourced, but are now
increasing in popularity for many rapidly growing in popularity as a
reasons. According to Deloitte, successful solution worldwide.
the number one reason for
outsourcing is cost saving. According to Promethean
Research, new entrants into the top
Contrary to common belief that quartile of virtual work have come
leaders must be in the corner from senior consultants. Firms
office, it is now more plausible which have outsourced CTO, CFO
and viable for decision-makers and COO roles are now also adding
to be outsourced. In a study by outsourced marketing consulting
Outsourcing Brookings, business leaders in into their budgets. Not only is this
business the top quartile of earnings were method financially effective for
leadership outsourcing long before the both parties, but it allows the
COVID-19 lockdown. Businesses outsourced senior marketing
functions is have been successfully outsourcing manager to have better
also increasing the roles of Chief Financial Officers autonomy over their work,
(CFOs) and Chief Technology without getting caught up in
in popularity for
Officers (CTOs) for years now. the corporate bureaucracy.
many reasons.
According to “Probably the most important trait [of a Virtual Marketing
Deloitte, the Leader] is to translate the CEO’s vision into an insightful,
number one measurable, and actionable marketing plan.”
reason for - Forbes Magazine
outsourcing
is cost saving.
High earners work from home more
Prevalence of work from home in 2017-18, by earnings quartile
Source: Promethean, 2019
10State of Play 2020 Virtual Marketing Management | Next Generation Marketing ©
Acceleration of digital
52.6%
Adopting technology of mobile usage, with
and the digitisation 3.5 billion smartphone
of business has been users globally. Mobile
happening for decades. usage is changing the
Changes were evolving way businesses operate,
of global website
long before COVID-19, how they market and how
traffic comes from but the pandemic they spend. With 52.6%
mobile devices. significantly hyper- of global website traffic
accelerated this. coming from mobile
Businesses that have devices, the capability
been considering digital for collection of data has
solutions over the past grown exponentially,
few years, are now fully and it is now ever
embracing them as the possible for people to be
new normal, enabling a connected at all times,
long-term digital future. no matter where they
are. This stands as the
Further to this is the biggest digital marketing
influence of digital opportunity, and at the
mediums on individual forefront of business
users through the rise decisions globally.
Cybersecurity; a non-negotiable
Expenditure With our lives and global expenditure on
on digital security businesses rapidly cybersecurity was around
moving online, the $3.5 billion. In 2017,
will be the most threat of cyber attacks, annual expenditure was
dramatic expense data infiltration and around 35 times that, at
increase between fraudulent behaviour $120 billion globally, and
is more prevalent by 2021, it is expected
2010-2030. than ever. In 2004, to exceed $1 trillion.
11Virtual Marketing Management | Next Generation Marketing ©
Global Marketing Trends
The rise in marketing expenditure
Other than cybersecurity, digital and data
management expenditure, businesses
are also spending more on marketing. “Digital advertising spend surpasses
spending on offline advertising: CMOs
In a study by Web Strategies, they found the invest two-thirds of advertising budgets
annual expenditure on marketing has been into digital channels.”
- Gartner
consistently growing by 4 - 9% year on year
for the past decade, with rates from 2019
increasing at 8.7% on the previous year.
Percentage change in marketing budgets expected in next 12 months
Source: Web Strategies, 2020
12Global Marketing Trends Virtual Marketing Management | Next Generation Marketing © Digital at the forefront The above study also found that Percentage change in traditional advertising* the digital marketing spend in vs. digital marketing spend in next 12 months particular, by comparison, has consistently grown by double- digit increments year after year, whilst traditional marketing spend is decreasing on average. Print and radio advertising spend is now being put into email, social and video content. This shift in spend reflects global behavioural changes, such as increased use of mobile and desktop website traffic in an online world. This should come as no surprise, as mobile marketing dominates Source: Christine Moorman, Web Strategies, 2020 the digital landscape. People are * Refers to media advertising not using the internet spending less hours watching TV with commercials and have reduced spending on printed Digital Marketing Spend Growth Forecast Through 2021 mediums. Consumers are now Expected growth in digital marketing in millions of dollars reaching for digital streaming within total growing at an 11% CAGR sources of entertainment including Spotify, Netflix and podcasts, as well as subscribing to digital editorials. Marketing has shifted with the times to have more of a digital focus than ever. Whilst marketing is evolving, the needs of customers are still the same - to get products and services for the best quality at the lowest price possible. In order for businesses to compete in an ever-competitive digital landscape, digital spends are increasing continuously. Source: Promethean Research & Forrester, 2019 13
Global Marketing Trends Virtual Marketing Management | Next Generation Marketing ©
Marketing recruitment,
development and training
Interestingly, a 2019 As marketing spend Marketers need to
study by Gartner, shifts more to digital,
be creatives with an
found that expenditure the needs of businesses
on marketing requiring better digital understanding of
recruitment (training marketing skills grows. the digital landscape
and development) has Ask any marketer
reached a 5 year high. in the industry, and
- knowing how
An exceptional marketer they will tell you that to analyse and
is no longer a creative new technologies are leverage data and
person who can think appearing every single
of a good jingle, or who day to facilitate greater
technologies to
knows where to place digital marketing success. obtain better results.
the product on the It does not matter what a
shelf. Marketers need marketer knew 10 years
to be creatives with ago. What matters is
an understanding of what they know today.
the digital landscape - And these necessary
knowing how to analyse skills are best learnt
and leverage data ‘on the job’ or through
and technologies to ongoing training
obtain better results. and development.
14Global Marketing Trends Virtual Marketing Management | Next Generation Marketing ©
The structure of the
marketing function
Large corporations can monitor how money
often have both internal is being spent. The
and external marketing problem is, that none
24-27%
functions. The Gartner of these solutions are
CMO survey, found that both functionally and
24-27% of marketing financially effective.
spend went to internal Something’s got to give.
labour, whilst 23-25% of of marketing spend
spend went to additional Brands are now placing
marketing agencies.
went to internal labour.
a greater emphasis on
building their internal
Businesses are looking talent pools which is
for core teams with fewer placing downward
23-25%
people and better results. pressure on agency
According to Forbes, growth. Many businesses
clients are questioning are now keeping some
why they would pay for execution in-house, by
large teams when they establishing their own
of spend went to additional
don’t know what half the in-house agency, to marketing agencies.
team members are doing. complete skills such as
Many clients are bringing social media (94%) and
the work in-house into basic graphic or UX / UI
leaner teams, so they design work (91%).
In-house Capabilities
The type of work in-house
marketing teams are performing
Social media 94%
Basic design work 91%
Public relations 77%
Digital marketing 76%
Full campaign development 64%
Production 57%
Media planning buying 54%
Source: Promethean Research & RSW, 2019
15Global Marketing Trends Virtual Marketing Management | Next Generation Marketing ©
Increased expectation
on marketing ROI
Another major shift is that brands are now demanding
and expecting a greater ROI on their marketing activity,
compounded by the pressures businesses are feeling
since the COVID-19 pandemic hit the globe. This is
regardless of how the marketing function is structured.
“After seeing rising budgets over the last
few years, stakeholders are demanding
quantifiable results from their [marketing]
investments. Brands believe they are
often more adept at building ROI
tracking internally.”
- Promethean Research,2019
Q. Tell us how your company’s
fiscal year 2018 total marketing
According to Web Strategies Inc, the revenue to expense budget is being allocated
marketing cost ratio represents how much money
to or spent on each of the following
is generated for every dollar spent in marketing,
people and programs
and they suggest it should equate to around
5:1 ratio. For every dollar spent, the marketing
function should generate $5 in revenue. 2017 2018
“Let’s be clear. It’s going to be a tough few
years. Marketing budgets are not just going
to be smaller. They are also going to be far
more important. They will become even more
central to the success of a business, and
getting the most out of them will be critical.
And they will become endangered – subject
to the ebbs and flows of the very company
fortunes to which they are so vital.”
- Nathan Hodges, Managing Director Trinity P3,
Global Marketing Management Consultants
Source: Gartner, 2018
16Virtual Marketing Management | Next Generation Marketing ©
Australian SMEs
State of Play 2020
Australian SMEs are paving the millennials (aged
1 in 5
way for digital business globally, 18 - 35 years old), with a
and as of the last Australian clean 50/50 gender split
census, SMEs currently employ of these millennial-
4.8 million Australians, 43.8% owned businesses.
of the country’s total workforce.
These businesses would not
As stated in the Australian exist without the internet, Australian SMEs are
Government’s budget, “Small the owners intent to grow the
business is the engine room of digital side of their businesses,
owned by millennials.
our economy”. NAB’s recent SME alongside their openness to
White Paper has uncovered that 1 optimise digital marketing
in 5 Australian SMEs are owned by practises such as automation.
Composition of employment
by business size
Large Medium Small
Source: ABS, Australian Industry, cat. no. 8155.0, 2019
17Virtual Marketing Management | Next Generation Marketing ©
What makes a successful business?
NAB also found
that factors
such as strong
leadership,
happy and
productive staff
were considered
major factors
for business
success.
Source: NAB, Understanding Australian SMEs, 2017
Who are our Millennial SMEs?
Source: NAB, Understanding Australian SMEs, 2017
18Australian SMEs Virtual Marketing Management | Next Generation Marketing ©
The marketing spend of Australian SMEs
According to The Zenith number 1 social platform for
Advertising Expenditure Forecast, reaching users in Australia.
digital ad spend is predicted
to exceed 60% of the total ad Interestingly, in the survey
spend in Australia by 2021. The introduced above by ask Marketing,
growth in internet advertising it found that after the COVID-19
is largely being driven by small lockdown, 30% of Australian
businesses, and platforms such SME CEOs and Business Leaders
as Instagram, Facebook and surveyed have had to shut down
Google making it easier to start their marketing altogether,
and manage a business online. because they believe they couldn’t
afford it anymore. Marketing &
Further to this, Australian brands advertising stand amongst some
spent approximately $9.45 of the main functions where
billion on digital ads 2019, a businesses have cut costs this
7.1% increase on 2018 with year, alongside rent and utilities,
Facebook still remaining the people and operations.
30%
of Australian SME CEOs and Business
Leaders surveyed have had to shut down
their marketing altogether, because they
believe they couldn’t afford it anymore.
Areas of Business Cost R&D
Reduction Since March 2020 Marketing & Advertising
Rent & Utilities 39.9%
People 21.7%
Rent & Utilities
Operations 17.5%
Marketing & Advertising 15.4%
R&D 5.6% Operations
People
Source: ask Marketing Primary Research Survey
of SME CEOs and Business Leaders - June 2020
19Australian SMEs Virtual Marketing Management | Next Generation Marketing ©
Australian SME marketing structure
There are several ways to In today’s complex digital marketing
structure a marketing department landscape, it takes a broad
to best suit a business. Here set of skills in multiple areas to
are some important factors successfully execute a campaign.
businesses must consider.
With over 41 specialty areas
All businesses need a in Marketing (and that list is
marketing strategy first. This continually growing), being
All businesses needs to be done by a senior able to effectively execute all
need a marketing marketing brain. Someone who: necessary marketing tactics can
strategy first. • Has ideally managed marketing often require multiple expert
teams and marketing projects, parties or people. Currently,
many organisations that budget
• Knows what to look for in people for a marketing function take on
and partners.
one of three forms of structure:
• Has a strategic brain needed
to advise a strategy across a) In-house marketing team
the necessary channels.
b) Agency model
The experts to execute the tactics
within the strategy comes second. c) Freelance marketing
20Australian SMEs Virtual Marketing Management | Next Generation Marketing ©
The in-house marketing team
A fully in-house marketing ability and experience to Interestingly, in the ask
function is generally execute the tactical
Marketing survey of 100
for those organisations components of the
with bigger budgets and strategy, then this Australian SME CEOs
needs. Depending on the option is sound. In and business leaders,
size of the organisation, any case, it can be an
this generally includes a expensive approach.
47% of businesses who
team of individuals who were operating under this
specialise on a particular The table below approach, said they
component of marketing. highlights some of the
fundamental internal
are now looking for an
If a senior marketing marketing roles that are outsourced option
lead has completed a often hired to create a of marketing post
strategy first, and then fully internal marketing
hired a team of internal team. Their average COVID-19, wishing to
marketers based on their salaries outlined below. operate a leaner business.
Role Salary Range Average
Marketing Assistant $44,000 - $68,000 $60,000
Marketing Coordinator $60,000-$80,000 $70,000
Marketing Specialist $70,000-$110,000 $90,000
Marketing Manager $70,000- $187,000 $110,000
Digital Marketing Manager $70,000- $187,000 $110,000
Senior Marketing Manager $83,000 - $158,000 $121,000
VP Marketing and Sales $113,000 - $309,000 $191,000
Source: Pay Scale and Seek, 2019
21Australian SMEs Virtual Marketing Management | Next Generation Marketing ©
The agency model
A third approach is the agency for this type of service, there is also each month. I.e. Rinse and
model, first introduced by an increasing fear that the agency Repeat marketing strategies.
advertising agencies back in model is now being challenged.
the 1960s. This flowed into the 4. Bringing marketing functions
marketing industry and now, A study by BedFord Group in-house can be very difficult
globally, thousands of businesses consulting has highlighted some
utilise marketing agency services. of the limitations of the 5. Model can be costly &
agency model, including: overhead-intensive
This model is particularly effective
if the business strategy identifies 1. The skills and processes for 6. The business
a particular area of marketing day to day marketing functions outgrows the agency
which requires a highly specialised remain with the agency and
skill set. This approach is also the not within the business 7. Frequent turnover of
preference of businesses who account management staff
do not have any internal scope to 2. No development or
deliver on marketing objectives. enhancement of the internal These limitations, along with
teams marketing capabilities recent global and local business
With an estimated 550,000 trends, mean that business
agencies worldwide, the model has 3. Risk of limited innovation, leaders are now researching
clearly had some successes, and strategy and drive - resulting all options for the management
whilst there will always be a place in the same thing, on repeat, of their marketing.
Freelance Marketing
Due to technological professionals for almost any task -
advancements and the possibility from graphic design to copywriting
of remote work, freelance to social media management.
marketing is becoming more This structure is favoured by
common for seedlings, in the early early-stage business as it is
stages of business development. often a financially viable solution,
with all of the work remaining
Thanks to online platforms such as online and contract-based, with
Upwork, you can now find freelance no employee obligations.
22Australian SMEs Virtual Marketing Management | Next Generation Marketing ©
The most important component to your business marketing function
It is agile
Results-focused 21%
It is transparent
Results-focused
Cost-effective 17%
Integrated with systems & operations 17%
It is strategic 15%
It is consistent
It is consistent 13% Cost-effective
It is transparent 9% It is strategic
It is agile 8% Integrated with systems & operations
Source: ask Marketing Primary Research Survey of SME CEOs and Business Leaders - June 2020
13%
of CEOs and Business Leaders have
decided to revert from the agency model,
bringing their marketing in-house since
the global pandemic began.
As uncovered in the June their marketing in-house
2020 ask Marketing since the global pandemic
survey, CEOs and began. Their reasons
business leaders revealed for this were to save
that when deciding on costs and have greater
how to best shape their transparency & autonomy
marketing function, of their marketing spend.
the most important 55% plan to continue
factors were that it this leaner approach There is not
was results-focused, moving forward.
cost-effective and
a one size fits all
integrated with business It is clear that from the marketing solution.
systems & operations. above solutions, there
is not a one size fits all
The research also found marketing solution. All
that 13% of CEOs and businesses will continue
Business Leaders have to have different needs
decided to revert from the and objectives for their
agency model, bringing marketing function.
23Virtual Marketing Management | Next Generation Marketing ©
Introducing: Virtual
Marketing Management
There is no doubt that, now more act BIG, without the price tag.
so than ever, businesses need a
cutting edge marketing function VMMs are an extension of a
with strategic thinking, creativity, business and are the perfect fit
technical expertise and optimal for any business who already has,
execution. or has scope to add an in-house
junior marketing resource.
The Virtual Marketing Management (Ie. has already got, or has the
model, provides high-level and scope to add one or several of the
agile marketing strategies, roles mentioned above within the
guidance & technology, for a internal marketing roles table).
fraction of the cost of employing
an in-house, full-time marketing It enables the business to have
The in-house resource of the same seniority. senior marketing management
Marketing alongside someone internally,
Managers Partnering with your own Senior working on the day-to-day
Virtual Marketing Manager could execution, right where the action
of yesterday, save you 70% on hiring your own happens. This helps to enhance
the Virtual in-house Marketing Manager. and develop the skills of the
Marketing Ultimately, the VMM approach internal team, continually and
is a smarter way to think and reliably guided by the VMM.
Managers
of tomorrow.
Save up to
110K 70%
Average salary of a Have your own senior
Digital Marketing Virtual Marketing
Manager in Manager, working
Australia alongside your
(Source: Seek, 2020)
internal marketing
resource.
24Virtual Marketing Management Virtual Marketing Management | Next Generation Marketing ©
A hybrid approach
The new VMM approach sits A Virtual Marketing Manager will: bigger picture and the finer
between the 100% outsourced details of your business, creating
and 100% in house marketing 1. Leverage the internal dynamic and successful marketing
models; a new hybrid model. marketing capacity of the strategies to suit your needs.
The VMM structure is not about business, enabling significant
being completely outsourced, cost savings and the development 7. Be a well-resourced people
nor completely in-house. of the internal resources. in the industry, having previously
worked as in-house Senior
2. Develop a role, recruit, Marketing Managers within
train and support an internal startups, SMEs and for some of
marketing resource. the world’s leading global brands
3. Develop and provide ongoing 8. Ensure teamwork with the
support for the internal resource, internal resource, with day-
who executes the day-to-day. to-day communication a vital
component of the partnership.
4. Provide an ongoing
partnership, allowing you to 9. Provide constant
outsource the work, yet feel a communication and support
sense of control over the service for all agreed strategies,
from content creation to
5. Ensure that if business budgetary requirements.
needs to bring everything
in-house in the future, all of In the study by ask Marketing,
the systems, processes and 85% of respondents said they
training have been put in place. were going to operate a leaner
business moving forward and
6. Focus on both the overarching that a VMM would help with this.
A lot of SMEs are not ready to invest in
in-house teams, whether because of
capital restraints, lack of understanding
of the marketing function, or other reasons.
VMM allows these businesses to dip their
toes into marketing and build a function
that is more agile and cost-effective than
the in-house alternative.
25Virtual Marketing Management | Next Generation Marketing ©
Problems and Solutions
For all of the apparent
challenges in today’s business
world, the VMM approach not only Marketing
addresses them, but eliminates
them. This is explained below.
teams of the
future will look
Whether a business decides very different
that the VMM approach is
best suited to their marketing than they
needs, will be left up to them. do today.
"Outsourcing work is sometimes the optimal solution for
business. However, when the information, vision and
messaging is siloed through numerous outsourced functions, it
becomes ineffective and a logistical nightmare. There needs to
be a link between the business and the outsourced function.”
- Gary Boddington, Blockchain Entrepreneur,
CEO Sports Technology Group, Oly
26Problems and Solutions Virtual Marketing Management | Next Generation Marketing ©
Market Challenge 1
The marketing function is siloed
Marketing specialties and their A siloed marketing function will
respective components are often result in a lack of agility and
often siloed. This effect may missed business opportunities.
happen due to a lack of Most importantly, as stated above,
integration, collaboration the customer will always know
and communication between and can feel when communication
a business, their freelance is discohesive or if the brand
marketers and an agency. is being disingenuous.
In May 2020, a Deloitte Digital This is a common “missing link”, one A siloed
and Salesforce Webinar reported that the VMM approach eliminates. marketing
that “Customers are accessing
multiple touchpoints during a Not only will a business have
function will
purchase but there is a significant their own VMM overseeing the often result in a
disconnect within companies. bigger picture strategy, they will lack of agility and
also have an in-house resource
75% of consumers expect who is at the beating heart of missed business
consistent interactions the business, being trained opportunities.
across all departments. and developed by the senior
Virtual Marketing Manager.
However, 58% say that they Collaboration between the
feel like they’re communicating VMM and the internal resource
with separate departments is integrated and consistent for
and not one company.” ongoing growth and success.
27Problems and Solutions Virtual Marketing Management | Next Generation Marketing ©
A broken marketing function with a “Missing Link” A cohesive marketing function with no missing links
A “missing link" occurs when a business does not have a senior A Virtual Marketing Manager (similarly to an Internal Marketing Manager)
marketing lead adjoining the leadership team with those provides the critical link, enabling the translation of a CEO's vision
executing the marketing day-to-day. and goals, into the day-to-day executional tactics.
Junior Marketing
Junior Marketing Junior Marketing
Junior Marketing Assistant/Coordinator
Assistant/Coordinator Assistant/Coordinator
Assistant/Coordinator
PR SEO
PR SEO PR SEO
PR Internal Marketing
SEO Internal Marketing
Manager or
Missing link Manager
Virtual or
Marketing
Missing link VirtualManager
Marketing(VMM
Manager (VMM
Senior
Senior Senior
Leadership
Senior Content Leadership Graphic
Content Leadership Graphic Content Team and Board Graphic
Content Leadership
Team and Board Graphic Creation Team and Board Design
Creation Team and Board Design Creation Design
Creation Design
Website Social Media
Website Social Media Website Social Media
Website Social Media Development Management
Development Management Development Management
Development Management
Paid Ad
Paid Ad Paid Ad
Paid Ad Campaigns
Campaigns Campaigns
Campaigns
28Problems and Solutions Virtual Marketing Management | Next Generation Marketing ©
Market Challenge 2
Resourcing is not easy
A major challenge for businesses from developing and defining the
all over the world is finding, training position description, advertising
and retaining talent. Business the role, interviewing applicants
owners often say, “We choose to and making recommendations,
outsource because it seems too to the handover process and
hard to hire someone who is able to ongoing training and development.
do the job autonomously with the The business owner will always
highest quality” or “We don’t have have the final sign off on the role Spotting
the time to hire and train new staff and the successful applicant,
or up-skill and train existing staff”. however the VMM manages the a brilliant
They are not wrong. According to end to end process with ease. junior
Majer Recruitment, hiring times for
marketer
Australian businesses has nearly Spotting a brilliant junior
doubled since 2010, taking on marketer is one of the skills of a is one of
average 68 days to fill a vacancy. VMM. They have been internal the skills
Not only is this time consuming, marketing managers before, so
but it is also expensive, with they know what to look for. As
of a VMM.
suggested costs on average being Senior Marketing Managers with
$5000 to recruit a new employee. years of managerial experience,
VMMs know the prerequisites,
With the VMM formula, the characteristics and skills
process of finding and training needed to ensure the right
talent is not the responsibility of internal marketing resource is
the business owner. The VMM selected, guaranteeing long
will guide the entire process, term business success.
Market Challenge 3
Internal team lacks strategy & leadership
Many business owners express create the most effective can execute on this. This connects
that, “Our internal team is good. marketing strategies based on the dots between the business
However, the overarching the high level business goals. leaders and the marketing function.
marketing strategy is missing.”
Without this, forges a clear gap, Interestingly, in the recent survey
In many SMEs, the junior another “missing link” between the completed by ask Marketing,
marketer(s) reports to a non- CEO’s vision and a tactical plan to 60% of SME CEOs and leaders
marketing function. However, deliver on the core objectives. had heard of a Virtual CFO,
it is not the job or experience yet only 40% had heard of a
of the CEO, CTO and COO to Many businesses face this VMM. However, 70% of these
strategise or oversee marketing. challenge, whether internally or respondents went on to state
using a fully outsourced agency. A they would consider outsourcing
A CEO requires a senior level VMMs job is to develop marketing a leadership role for their
commercially minded Marketing strategies to achieve a businesses business, with 85% of these
Manager who can analyse, goals. This is then integrated with believing the VMM approach
guide, pivot and confidently the role of the junior marketer who would benefit their business.
29Problems and Solutions Virtual Marketing Management | Next Generation Marketing ©
Market Challenge 4
There is a limited marketing budget
A common question amongst junior in-house marketers.
Many businesses business leaders is “What is the
best investment to get marketing By embracing the VMM approach,
cannot afford results on a tight budget?” Often, business leaders can have
both senior and businesses are unsure how to best both, without the price tag.
junior in-house set up their marketing function
with a focus on cost efficiencies. Further to this, one of the key
marketers. strengths of the VMM approach
By embracing the More often than not, the answer is the ability to enable marketing
VMM approach, lies within your talent. If SME technologies (Martech). With
business owners are spending marketing becoming more and
business leaders over $100,000 per year on one more digital, and new solution-
can have both, marketer, it leaves either very little based technologies emerging,
room for senior level strategy, it’s at the forefront of the VMM
without the
or very little room for the day approach to utilise these tech
price tag. to day executional costs. As tools to create cost efficiencies
discussed above, many businesses and performance optimisations
cannot afford both senior and throughout the funnel.
Market Challenge 5
Visibility and control are important
These are two common The VMM model is built on
concerns of most business transparency, independence
leaders: “Outsourcing is not our and an ROI which is more than
preferred method because we just marketing metrics - it is
want to have full control and about the value being added back
transparency on the ROI and into the business, it’s people.
results” and “We would rather
invest in our internal people With the VMM approach, the
to enhance our own skills and internal resource sits within the
reap the long term value”. business, being trained and
developed by the VMM. The day-
When the work is fully outsourced, to-day execution of marketing is
business leaders often question done in-house by this resource,
value for money and the whilst being trained on the
transparency of their investment as technical and tactical components
the marketing activity is developed, by the VMM, adding long term
curated and executed externally. value back into the business.
30Problems and Solutions Virtual Marketing Management | Next Generation Marketing ©
Market Challenge 6
There is outsourcing dependency
Many businesses have a fully capabilities developed to not
outsourced marketing function only execute on the marketing
and they rely solely on this service strategy in an ongoing way, but
to execute all of their marketing do so with amazing results.
activity. Many businesses choose
to do this because they do not have This means that, at any stage,
the skills or the resources internally. if the business decides to
bring the marketing function
With the VMM approach, the completely in-house, the
business is fully independent, processes and skills for day-to-
with the in-house skills and day execution are already set up.
Market Challenge 7
Searching for a unicon
Often SME business owners
are looking for marketers that
can ‘do it all’, often referred to
1. As discussed
above, all businesses
need a marketing strategy
3. Additional experts to fit
within the niche marketing
areas required come third. For
as the ‘unicorn’. However, with first, developed by a example, SEO & CRO are niche
digitalisation comes an array senior marketer. marketing areas that will always
of specialisations within digital require experts to execute on.
marketing - there are now 41 This is the role of a
specialty areas and that list VMM and brings the The VMM stands to connect the
continues to grow. There’s structure to a businesses dots between experts, ensuring
little wonder why a ‘unicorn’ marketing function. the marketing function is firing
marketer is no longer possible. optimally from all angles in a
Understanding this, the VMM
approach stands to set up a
2. The recruitment or
training of a junior
team member who can
lean and cost-efficient way.
Hear from one of the internal
businesses marketing function execute the fundamental marketing resources that a
in the most cost-effective and day-to-day marketing VMM recruited, trained and
results-focused way. How? activity comes next. continues to partner with.
“Working alongside the ask Marketing VMM team has been a great
learning experience. Their recruitment process was seamless and their
training and support continues to be invaluable. It has allowed me to feel
confident and capable to excel in this role. Their organisational skills,
effective communication and their trust in my ability has been exciting
and challenging, allowing me to grow significantly in new areas within
the business and greater digital marketing landscape.”
- Indira Pandey, Digital Marketing Executive,
Multi-Brand Internal Resource.
31Problems and Solutions Virtual Marketing Management | Next Generation Marketing ©
Market Challenge 8
Lack of genuine brand buy-in
The internal
resource works
in the heart of the Marketing is all about growing is best done by someone in the
a business with a strong brand business day in & day out, who
business, deeply voice, telling a story which allows lives and breathes the brand.
understanding consumers to feel a sense of
both the connectedness with the brand. The VMM approach supports
Fully outsourced marketing often this understanding and
businesses’ limits the ability to deliver that value of authenticity.
and consumer sense of genuine, unequivocal
needs, whilst brand voice across all touchpoints. The internal resource works
in the heart of the business,
being led from The reality is, the ‘always deeply understanding both the
a topographic & on’ marketing activities (for businesses’ and consumer needs,
strategic level by example, organic social media whilst being led from a topographic
and ongoing content creation) & strategic level by the senior VMM.
the senior VMM.
"Working with ask Marketing is one of the best business
decisions I have ever made. They have taken the time to
understand the in’s and out’s of our organisation and it has
allowed me to get more in touch with where we are and where
we need to go. All I can say is, I wish I had commenced our
partnership sooner.”
- Robert Dukes, Founder & Creative Director RDVis Creative Studio
32Virtual Marketing Management | Next Generation Marketing ©
Virtual Marketing
Management: How it works
Breakdown of Key Responsibilities
Virtual Marketing Manager Internal Marketing
(VMM) Responsibilities Resource(s) Responsibilities
Develop the monthly/quarterly/yearly Involved in the collaborative discovery
Digital Marketing Strategy. Present and decision making during the
to Directors/Board for sign off. Strategy development process
Monthly/quarterly/yearly executional campaign calendar
Provide marketing sign off on all creative assets Day to day execution of the marketing calendar
to be used across marketing execution and campaigns based on the direction provided
Budgetary recommendations Follow budgetary recommendations
and analysis within paid media channels
Discovery, roadmap, implementation Assist with implementation, testing and
and management of Martech day-to-day running of Martech
Facilitate training and ongoing Open communication with business leaders
support of internal resource and VMM on professional growth areas
Performance analytics Translate insights into action
VMM integrates within the businesses’ senior
leadership team, to facilitate the business
leaders’ long term vision and short term goals,
translating this into agile marketing plans
VMM bridges the gap and provides accountability
and translation between the business leaders
and any third parties and specialty agencies
33How it Works Virtual Marketing Management | Next Generation Marketing ©
Laying The Foundations, A Phased Approach
Development,
Website Recruitment & Support of Launch Launch Marketing
Optimisations/Development Training Content Shoot
of Marketing Role (if required)
Digital Marketing
Marketing Strategy Development/Support of Technical Implementation/Tools Ongoing Virtual
Workshop Campaign Calendar Support Marketing Management
VMM
1/2 Day 2 weeks Pending requirements Pending requirements 1 week Pending requirements 1 week TBC
PHASE 1 Month 1 PHASE 2 Month 2 PHASE 3 Month 3
34How it Works Virtual Marketing Management | Next Generation Marketing ©
“Our partnership with the ask VMM’s, who work alongside
our internal marketing executive has been seamless. Their
proactive processes, excellent communication and training
has ensured we are always on the front foot.
- Matt Wong, General Manager Kuro Sydney
Delivering ROI is the #1 priority
The ROI is achieved by laying the & tools to enable efficiencies and
critical foundations required for smarter marketing decision making.
long term marketing success.
From the point the VMM
partnership commences:
The return achieved on the
project phases includes:
5. The VMM provides ROI
recommendations on all activities
1. A clear digital strategy, uniting proposed (within the strategy The ROI is
both the internal and extended
and calendar) and will remain
ask marketing VMM team. achieved
accountable to the delivery
of these by laying
2. A clear plan for execution, the critical
enabling forward planning 6. With the technical
as well as the visibility of the implementation support phase foundations
tactics/channels being used (ref. phase 7 in diagram above), required for long
and their respective goals and
objectives within the funnel .
the VMM provides all of the
term marketing
relevant metrics and benchmarks
associated with each channel. success.
3. Investment into the internal The VMM then works through
marketing resource(s), by providing these with the internal resource,
valuable training and upskilling training them on how to best
for execution of all day-to-day identify performance and
digital activities required . optimisations. The VMM also
implements marketing KPI’s
4. Investment into the setup of for the internal marketing
marketing technology, systems resource or team.
“The ask VMM’s have approached our marketing as a strategic
business function, deeply understanding our various key
service pillars and utilising powerful Martech efficiencies to
optimise our sales funnel. Our VMM partnership is an integral
part of our longer-term business strategy.”
- Edwin Burwood, CEO and Director Energy & Carbon Solutions
35How it Works Virtual Marketing Management | Next Generation Marketing ©
How the VMM approach
supports business growth
Virtual Marketing Management is an integrated
approach - as business growth happens, so does
the relationship. It’s a hybrid model, based on
organisational efficiencies and effectiveness.
Virtual Marketing Similar to an internal Senior Marketing role, a Virtual
Management Marketing Manager will be an integral part of the
is an integrated decision making process every step of the way. From
forging new strategic partnerships, recommending
approach - as additional internal roles to building new specialist
business growth relationships, a VMM is able to think critically about the
happens, so does pathways available to scale the business effectively.
the relationship.
It’s a hybrid “From the outset, the ask Marketing
model, based on Virtual Marketing Managers integrated
organisational within our senior leadership team,
providing insights and direction to enable
efficiencies and significant operational decisions.”
effectiveness. - Loren Mitchell, Founder & Director LMHR
Further to this, a Virtual Marketing Manager
can scale with businesses. In the instance the
business embraces an organisational change, a
new direction, or needs to rapidly scale into new
markets, the business can rely on the VMM to work
dynamically and strategically to support this.
“Partnering with the ask VMMs across multiple
brands within our portfolio has proven to
be a highly efficient and effective way of
working. Each business has grown within
its respective market due to the dedication,
drive and performance-focused methods
that the ask team have implemented.”
- Alan Wong - CEO, Clover Investments
36How it Works Virtual Marketing Management | Next Generation Marketing ©
The ask Marketing vision
More than ever before, We lay the foundations, define a
a cutting edge marketing clear strategic direction and path,
function now requires strategic develop and train the internal team,
thinking, creativity, technical instilling the confidence within
expertise and optimal execution. each business to successfully
Our vision is to
In this generation, businesses execute their ongoing marketing.
provide need to spend small,
SMEs with the yet strategise BIG. We believe in adding the value
back into businesses. If the
same level of Our vision is to provide business decides to become
strategy and SMEs with the same level fully independent and take their
direction as of strategy and direction marketing 100% in-house, they
as their corporate will have the skills, functionality,
their corporate counterparts, for a processes and technologies to
counterparts, fraction of the price tag. do so, without dropping the ball.
for a fraction of
This is Virtual Marketing Virtual marketing management
the price tag. Management. is different, and it works.
“It is almost impossible for me to explain the value the
ask Marketing team have added to my business and
to me personally. Our partnership has highlighted the
significant agility that the VMM model brings.
Having had 3 businesses over the last 20 years and
having dealt with many suppliers, I would place ask
Marketing in the top 3. Their VMM model works incredibly
well and I have already referred them onto many others
whom I know have also been suitably blown away by their
knowledge, the quality of work, and the care factor
they have in their customer’s success."
- Steve Grace, CEO & Founder The Nudge Group
37You can also read
