THEORETICAL BACKGROUND OF OUTSOURCE MARKETING
Overview of Marketing
In today's challenging economic landscape, businesses face intense competition, swift changes across all sectors, and a decline in customer loyalty Consequently, modern marketing has become an essential and powerful tool for navigating these dynamics effectively.
Marketing serves as a vital tool for brands to sustain their market presence, yet its true nature often eludes many To grasp the essence of marketing, it is essential to delve into the fundamentals of this profession.
The American Marketing Association defines marketing as a comprehensive activity involving various institutions and processes aimed at creating, communicating, delivering, and exchanging valuable offers for customers, partners, and society at large.
Marketing encompasses the business functions focused on stimulating and fulfilling demand, as noted by Cundiff and Still (1986) Philip Kotler, regarded as the father of modern marketing, defines it as both a science and an art that involves exploring, creating, and delivering value to meet the needs of a target market profitably This definition highlights the importance of identifying unfulfilled needs, measuring market size and profit potential, and determining which segments a company can serve effectively, ultimately leading to the design and promotion of suitable products and services.
Marketing is defined as the process of analyzing market needs to develop products, services, and solutions that fulfill those needs It involves identifying the best strategies to communicate the benefits to customers, ultimately helping them satisfy their requirements.
This research focuses on the marketing definition by Mago Vu, as Marketing Goc Co., LTD has utilized this theory to enhance their outsourced marketing services Marketing encompasses a range of strategies and tactics aimed at driving profitable customer actions, positioning products and services effectively in the marketplace, and encouraging target audiences to make purchases Consequently, effective marketing management is crucial for the success of any business.
The marketing activities of a business are influenced by various internal and external factors, with some being controllable while most require adaptation to mitigate their impact These factors collectively create the marketing environment in which the business operates, which can be categorized into two main segments: the micro and macro environments, as outlined by Kotler and Armstrong (2012).
The macro-environment encompasses external forces that impact a company's operations but are beyond its control, influencing its market effectiveness indirectly In contrast, the microenvironment consists of internal factors that directly affect a company's ability to operate in the market and are controllable, allowing the company to manage these elements to its advantage.
The micro environment encompasses the immediate forces surrounding a company that influence its capacity to serve customers effectively Key components of this environment include the company itself, suppliers, marketing channel firms, customer markets, competitors, and various publics, as defined by Philip Kotler Understanding these elements is essential for businesses to navigate their operational landscape successfully.
1.1.3 Marketing Mix- The 4Ps of Marketing
The Marketing Mix is a crucial marketing strategy utilized by businesses, originally introduced by Neil H Borden in his 1964 article, "The Concept of Marketing Mix."
Philip Kotler defines the Marketing Mix as the strategic blend of four key elements known as the 4P's: Product, Price, Promotion, and Place Companies can adjust these components to develop an effective marketing strategy tailored to their goals.
The Marketing Mix, as outlined in the Principles of Marketing by Kotler and Armstrong (2014), consists of four key elements: Product, Price, Promotion, and Place This strategic blend of marketing tools enables businesses to effectively reach and engage their target customers By ensuring the right product is available at the right price, in the right location, and at the right time, companies can optimize their marketing efforts While the traditional 4Ps provide a solid foundation for product planning and evaluation, marketers often expand upon this framework with additional P’s and the 4C concept for a more comprehensive approach.
A product, whether a physical item or a service, is designed to fulfill a specific customer need or demand Marketers must recognize the logical product life cycle and prepare for the distinct challenges at each stage Understanding the problems the product addresses is crucial, as well as comprehending its benefits and features Additionally, analyzing the unique selling proposition of the product is essential for effective marketing strategies.
Identifying and understanding potential buyers is crucial for effective product pricing, as the price reflects the amount the end user is willing to pay The relationship between pricing and sales is influenced by the perceived value of the product to the customer, rather than its actual cost If a product is priced above or below its perceived value, it may struggle to sell A positive customer perception can allow for higher pricing, while low perceived value may necessitate lower pricing to attract buyers Additionally, pricing can be influenced by distribution strategies, value chain costs, markups, and competitor pricing.
Marketing communication strategies encompass various promotional techniques, including advertising, sales promotions, special offers, and public relations It is essential that the chosen channel aligns with the product, pricing, and target audience Furthermore, it's crucial to distinguish between marketing and promotion, as promotion represents only the communication component of the broader marketing function.
Overview of outsource marketing
Outsourcing, as defined by Wikipedia, involves subcontracting processes such as product design or manufacturing to third-party companies In the realm of content marketing, many businesses are primarily organized to deliver their products and services rather than to function as content publishers.
Outsourcing marketing functions to a specialized agency offers several advantages, such as a strong customer focus, comprehensive business immersion, and the ability to maintain the right priorities It also enhances speed and efficiency, facilitates integrated disciplines, and ensures tasks are completed correctly However, assessing the pros and cons of outsourcing marketing communications is complex, as it involves considering medium to long-term partnerships with external contractors responsible for executing marketing strategies within the business environment.
In the early stages, startup companies often attempt to handle all aspects of their business independently, relying on self-taught marketing experts who juggle multiple roles within the organization This approach can be time-consuming, and eventually, business owners recognize that effective marketing is crucial for sustainable growth This realization typically leads to one of two outcomes: hiring a professional marketing expert or opting to fully or partially outsource their marketing efforts.
Outsourcing marketing strategies can be a smart move for smaller startup companies that excel in providing quality products or services, as it allows them to focus on their strengths while reducing costs By hiring external marketing experts, these companies can alleviate the financial burden of additional in-house staff and benefit from specialized knowledge This article explores the various advantages that marketing agencies offer to their clients, highlighting how outsourcing can enhance overall business success.
Outsourcing marketing teams has become increasingly popular among startups, particularly for product-based businesses Building an in-house marketing team with comparable talent can exceed six figures annually, a cost many smaller companies cannot afford In contrast, marketing agencies offer significantly lower rates, often less than the salary of a single executive, providing startups with access to a skilled team of marketing experts at a fraction of the cost Furthermore, these agencies typically cover advertising and software expenses, making outsourcing a cost-effective solution for emerging businesses.
Outsourcing marketing brings valuable new perspectives, as many employees often hesitate to discuss their company's sales and marketing strategies or trends This reluctance is understandable, but leveraging external expertise can enhance overall business insights.
In large corporate environments, expressing a differing opinion from superiors can result in various challenges However, experts at marketing agencies prioritize transparency and are committed to offering honest, uncensored feedback regarding a company's business strategies.
Outsourcing a marketing team can save significant time compared to hiring and training in-house talent The process of recruiting qualified candidates involves extensive CV reviews, interviews, and assessments, followed by a lengthy training period to familiarize them with the company’s products and target audience In contrast, marketing agencies employ experts with diverse industry experience, often including professionals who already understand the specific market and customer behaviors relevant to your business This expertise allows for a quicker and more effective implementation of marketing strategies, maximizing the benefits of outsourcing.
High employee turnover in marketing can be detrimental to a company's success, as entry-level staff often do not stay long due to a lack of attachment to their initial roles With the rise of digital marketing, there is a growing shortage of qualified professionals, leading to frequent job offers for experienced employees This constant turnover necessitates significant time and financial resources for hiring and training new personnel, ultimately impacting business performance.
1.2.3 Marketing Mix in outsource marketing
For small and medium-sized businesses with limited marketing expertise, outsourcing marketing is crucial Although the 4Ps marketing mix was developed before the digital age, it can be effectively adapted to create a relevant marketing strategy in today’s online environment.
Outsourced marketing has led to the development of highly specialized products and services that effectively address customer needs Small and medium-sized enterprises often struggle to meet these demands due to a lack of professional marketing teams, which hinders their understanding of both their offerings and the current market landscape As a result, these companies find it challenging to sell their products successfully.
Outsourcing marketing agencies offer exceptional marketing services to small and medium enterprises (SMEs) at a reasonable cost, enabling these businesses to save money while enhancing the efficiency of their marketing efforts Conversely, many SMEs lack fundamental marketing skills, leading to ineffective strategies that can be financially burdensome.
The concept of 'place' in marketing refers to the point of sale, where attracting consumers and facilitating easy purchases is crucial for a successful distribution strategy Retailers often invest significantly in prime locations, adhering to the adage 'location, location, location' to enhance their business visibility By collaborating with marketing firms, companies can align their objectives effectively, paving the way for greater success in their industry.
Promotion encompasses all activities aimed at raising awareness of a product or service among consumers and traders, including advertising, word of mouth, press coverage, and various incentives It also involves consumer schemes, direct marketing, contests, and prizes The integration of online and offline marketing offers significant advantages, such as improved customer targeting, flexible advertising budgets, and straightforward efficiency measurement Consequently, corporations today employ promotional strategies that differ significantly from those used three decades ago.
In today's technology-driven landscape, outsourced marketing leverages digital marketing tools to enhance their effectiveness According to Philip Kotler and Garry Armstrong (2012), a marketing channel is defined as a network of interdependent organizations that facilitate the availability of products or services for consumers or business users Marketing channels can be categorized into online and offline types, with the primary distinction being that online marketing channels operate exclusively on the Internet, while offline marketing channels involve digital devices that may not be Internet-connected.
1.2.4.1 Types of online marketing a Definition of online marekting
The exploitation of Outsource Marketing in the business
The Industrial Revolution 4.0 has brought significant transformations in technology, communications, customer engagement, and business models, profoundly impacting the publishing industry As the sector swiftly adapts to the digital landscape, numerous small and medium enterprises emerge, often struggling with marketing To enhance their marketing efforts, these businesses increasingly rely on outsourced marketing services.
1.3.1 Outsource Marketing service in the medium and small companies
Digital marketing support is essential for businesses, particularly in today’s data-driven landscape Large companies benefit from comprehensive marketing, advertising, and public relations teams, often supplemented by outsourced agencies to enhance their efforts.
For small to medium-sized businesses struggling to manage their marketing workload, the demands of blogging, tweeting, and posting can be overwhelming With a focus on core business functions, there often isn't enough time to keep up with the ever-evolving technical aspects of marketing and the expanding skill set required.
Outsourcing your marketing tasks can simplify your workload, especially for time-consuming projects that require part-time support throughout the year Instead of navigating the lengthy hiring process, you can easily call an external marketing company that offers flexible services tailored to your needs With our approach, you only pay for the services you require and can adjust your hours as necessary, ensuring efficient and effective marketing assistance when you need it most.
1.3.2.1 Changes in the world Marketing
The landscape of marketing is rapidly evolving, moving beyond traditional selling and advertising methods It now integrates advanced technologies and Big Data Analytics, enabling real-time decision-making and strategies.
Historically, marketers relied on market research from specialized agencies and internal teams to evaluate consumer demand and preferences for specific products or services.
They were tasked with coordinating efforts across the R&D, Production, and Quality Control departments to ensure timely delivery of products or services Additionally, they were responsible for executing advertising and sales promotions, which included managing advertising campaigns and overseeing supply chain and marketing management.
They were required to incorporate feedback from sales outlets and marketing research to evaluate the effectiveness of their strategies and identify any necessary adjustments.
Marketing has historically been demand-driven, leveraging technology while primarily focusing on physical dimensions, including manufacturing supply chains and geographical distribution channels This approach emphasized advertising and promotions, aiming to connect with consumers through tangible channels.
1.3.2.2 Changes in the Vietnam Markting
In recent years, the rapid growth of enterprises and brands has highlighted a common challenge: many businesses lack a clear marketing strategy Effective marketing stems from understanding market demands and delivering products and services that fulfill those needs.
M.A Do Tien Long (2017) has said that digital marketing has became more and more popular than traditional marketing tools within the era of the 4.0 technology revolution With the very fact that individuals are increasingly captivated with the internet for everyday activities, promoting products and brands online may be a must for any business and organization.
According to the 2019 Digital Marketing Reports by WeareSocial and Hootsuite, Vietnamese users dedicate an average of 6 hours and 42 minutes daily to internet activities Specifically, they spend about 2 hours and 32 minutes on social networks, 2 hours and 31 minutes watching streaming videos, and 1 hour and 11 minutes listening to music The report highlights that 94% of internet users in Vietnam access the web daily, while only 6% use it once a week This indicates a strong reliance on internet-related activities among Vietnamese users Additionally, internet access speeds continue to rise, with average mobile speeds at 21.56 MBPS (up 6.1% from the previous year) and computer speeds at 27.18 MBPS (up 9.7%).
The evolution of digital technology has transformed the business landscape, making marketing more competitive and complex than ever Consumers now possess heightened awareness and increasingly demanding expectations regarding products and services Coupled with an economic downturn that has made consumers hesitant in their spending decisions, marketers face the challenge of identifying effective and cost-efficient marketing strategies Consequently, Digital Marketing has emerged as the essential trend, tailored to meet the needs of modern businesses, discerning consumers, and budget-conscious approaches.
In recent years, Digital Marketing has become increasingly popular among Vietnamese businesses, who are leveraging digital channels for marketing research, customer targeting, and product promotion This growing trend indicates a strong potential for effective use of Digital Marketing in Vietnam, as companies increasingly utilize online platforms to gather customer information and distribute products through various retail channels.
CURRENT SITUATION OF OUTSOURCING MARKETING
Overview of Marketing Goc Co.,LTD
2.1.1 General information of Marketing Goc Co.,LTD
- Vietnamese name: Công ty TNHH Marketing Gốc
- International transaction name: Marketing Goc Company Limited
- Abbreviated name: Mago Marketing Agency
- Head Office: 109 Tran Hung Dao Street, Hoan Kiem District, Ha Noi
- Rep Office: 11 th Floor, Hall A, 62 Nguyen Huy Tuong Street, Thanh Xuan District, Ha Noi
2.1.1.1 The main field of Mago Marketing
The field the company operates: is marketing services.
2.1.1.2 The slogan of Mago Marketing
The slogan is affirming the value and positioning success.
2.1.1.3 The meaning of logo and the name “ Mago”
Mago Marketing specializes in marketing consulting services that emphasize a deep connection to foundational principles The Mago logo symbolizes the bond between humanity and nature, reflecting the company's commitment to grounding its business practices in these roots while showcasing human creativity.
2.1.1.4 The mission and vision of Mago Marketing
Mago Marketing is a premier provider of innovative marketing solutions for businesses, dedicated to enhancing corporate growth through effective marketing strategies Our mission is to empower organizations by optimizing their marketing systems and reducing costs, ensuring a focus on production, sales, and product development We aim to deliver valuable goods and services, continually expanding our knowledge to offer tailored marketing consulting Committed to quality improvement, we actively listen to client feedback and foster a professional, creative work environment that aligns with international standards Mago Marketing believes that our success is tied to the prosperity of our clients, driving us to excel and expand into new markets.
Mago Marketing emphasizes foundational principles in all business activities, utilizing these core concepts in training to enhance students' understanding of marketing and management through innovative methods Participants are encouraged to select fields that align with their skills and aspirations for personal growth and societal contribution Mago's core values in consulting and collaboration focus on optimizing operations from the ground up, ensuring synchronization within enterprises to foster synergy, reduce costs, and promote sustainable development.
2.1.2 Organisation of management in Marketing Goc Co.,LTD
2.1.2.1 The organisation structure of Marketing Goc Co., LTD
Figure 2.1 Board of Marketing Goc Company
The diagram illustrates the organizational structure of Goc Company's Marketing department, highlighting the Director as the highest authority The Director not only represents the company legally but also possesses full rights and responsibilities to act on its behalf, overseeing production and business operations.
The company consists of four distinct departments, each led by a Manager or Team Leader responsible for professional tasks such as planning, coordinating with the Director, and managing rewards and penalties The Financial Accounting Department oversees the company's financial and human resource management The Content Creation Department focuses on generating ideas and executing projects across two areas: design and written content The Consulting Department is tasked with planning, researching, and providing marketing insights to meet consumer needs Lastly, the Account Department is dedicated to customer acquisition through various channels, including websites and social media, while also handling sales planning, client meetings, service consulting, contract signing, and inter-departmental coordination.
Every department within a company plays a crucial role in executing business operation plans and coordinating with other departments This collaboration enhances operational efficiency and boosts the company's competitiveness, ultimately driving growth.
2.1.2 The company main business activities
Mago Marketing is a prominent leader in outsourced marketing services, specializing in three key areas: comprehensive training in marketing and business administration, consulting for holistic business solutions, and facilitating full trade cooperation with businesses The company offers partners and clients complete marketing solutions, precise research, and dedicated consulting services that adhere to international standards.
2.1.3 Business performance of Marketing Goc Co., LTD from 2018 to 2020
Table 2.2 Table of financial situation analysis of Marketing Goc Co., LTD
4 Profit before taxes and interest
In 2020, the company's financial ratios indicate a significant expansion in operational scale and a reduction in costs, demonstrating improved efficiency in business activities compared to 2019.
It can be easily seen from the table, asset tends to increase in period 2019-
In 2020, Marketing Goc Co., LTD experienced a significant increase in assets, rising by 1.639 million dong to reach 20.709 million dong, marking a growth rate of 7.91% This positive trend had a substantial impact on the company's operations The effective implementation of outsourced marketing services contributed to the business's profitability, as evidenced by the net turnover growing from 20.379 million dong in 2019 to 21.327 million dong in 2020, reflecting an increase of 4.65% Additionally, profit before taxes and interest rose from 3.699 million dong in 2019 to 4.101 million dong in 2020, achieving a growth rate of 10.85%.
Revenue from insurance and service supply
10 Net profit from operating activities 2.858 3.699 4.101
The business performance report of Marketing Goc Co., LTD reveals stable economic growth over the past three years (2018-2020), with net revenues rising from 18.815 million dong in 2018 to 31.379 million dong in 2020 The company has successfully expanded its market and customer base while enhancing product quality and efficiency through increased customer surveys and service utilization However, it is noteworthy that both selling expenses and administrative costs have also risen during this period.
From 2018 to 2020, the selling expenses were recorded at 2.832 million dong in 2018, 3.590 million dong in 2019, and 3.211 million dong in 2020 Similarly, the administration costs during the same period were 2.983 million dong in 2018, 3.112 million dong in 2019, and 3.458 million dong in 2020.
Overall, the economic growth of the company increased positively in the period 2018-2020.
Outsource marketing services activities at Maketing Goc Co., LTD
2.2.1 Target customers of Marketing Goc Co.,LTD
Based on the relationship with the company, company divides the client into: inside customers and outside customers: a Inside customers
Inside customers have a relationship with the company, either through employment or as partners who deliver your product or service to the end user, the external customer. b Outside customers
This type of customers can be grouped into several subtyles
Young people aged 18 to 25, primarily students, constitute the primary customer base for marketing training programs The marketing field is highly sought after for its creative opportunities and potential for lucrative income Additionally, the diverse range of specialties, including Content Creation, Multimedia, Strategy, and Customer Care, further entices young individuals to pursue careers in this dynamic industry.
Small and medium-sized enterprises (SMEs) often lack dedicated marketing departments or possess ineffective marketing teams, making them prime candidates for outsourced marketing services This segment represents a significant source of income for marketing companies today In an era where technology continues to evolve, effective marketing is crucial for business success; however, many SMEs face challenges such as limited human resources, tight budgets, and insufficient capital These businesses typically struggle with various aspects of marketing, often excelling in specific areas like content creation but lacking expertise in advertising or design.
The target audience for the comprehensive development cooperation program and pro marketing program consists of entrepreneurs, directors, and marketing professionals aged 26 to 40, representing both genders These key customers often face challenges in developing their products and services and possess a collaborative mindset focused on mutual growth For instance, a lesser-known Company A may partner with a more reputable Company B to enhance its market presence amidst fierce competition Together, they strategize to create a marketable product, with profits shared based on their agreement, fostering a win-win scenario for both parties.
2.2.2 Services are provided by Mago Markeing:
2 Marketing management training, business administration
4 Brand consulting service, marketing strategy service
Table 2.4 List of other products and services
Marketing training equips students with a foundational understanding of marketing principles and management techniques, fostering original thinking and innovative approaches Additionally, a multi-disciplinary curriculum allows students to select a field that aligns with their interests, while practical training through real-world company projects enhances their learning experience.
2.2.2.2 Marketing management training, business administration
Marketing management training and business administration equip students with a foundational understanding of marketing principles This education enables them to identify consumer needs through essential needs analysis, comprehend market dynamics, and effectively segment and select target markets.
Building enterprise core value system can create the product value, service value, vision, mission for businesses.It helps students and customers position a brand with the five senses.
Then, it help business synchronize corporate resources such as product strategy, price, distribution channel, promotion mix to develop a long-term, short- term marketing strategy.
This service assists businesses in conducting thorough market research and assessing market demand to develop appropriate products It involves gathering and analyzing market data, evaluating findings, identifying issues, and offering effective solutions to address these challenges.
2.2.2.4 Brand consulting service, marketing strategy service
This service is recognized for its stability and long-term effectiveness, driven by comprehensive activities such as market research to identify optimal products, strategic development models tailored to each product line, and partnerships that enhance brand building By creating a cohesive marketing strategy and implementation plan, along with designing brand identity and positioning, this service empowers businesses to differentiate themselves and achieve sustainable growth.
Our marketing department setup service assists SMEs in identifying their business needs by gathering information and enhancing business understanding This enables the marketing department to optimize its performance and leverage existing strengths We analyze customer dynamics in relation to the current business and market conditions, allowing us to recommend essential human resource positions tailored to those needs.
2.2.3 The main types of outsource marketing services of the company
Marketing Goc Company Limited is a member of Mago Corporation which was established in 2009 by a lot of enthusiastic experts in the field of advertising communication
With over a decade of expertise in marketing consulting, Mago Marketing specializes in delivering innovative marketing solutions, including video, audio, and film production for advertisements and corporate introductions As a leader in branding and media services, Mago Marketing continues to strengthen its position across various sectors.
Mago Marketing operates within a closed group model focusing on three key areas: training in marketing and business administration, consulting for comprehensive business solutions, and facilitating trade cooperation The company provides partners and clients with complete marketing solutions, precise research, and exceptional consulting services that adhere to international standards, including advertising services.
Advertising is crucial for businesses to connect with their target audience and enhance operational efficiency Determining the right investment in advertising can be challenging for managers, marketers, and advertisers To maximize the effectiveness of advertising efforts, it is essential for businesses to develop a well-thought-out advertising strategy With its innovative marketing approach, Mago Marketing can assist businesses in creating impactful advertising strategies that drive results.
For businesses looking to enhance their advertising efforts, a methodical approach to planning and execution is essential Engaging a professional with strategic expertise to develop comprehensive marketing plans and select effective advertising channels is crucial Choosing Mago Marketing as your partner can significantly elevate your marketing strategy and drive successful outcomes Additionally, utilizing PR services can further enhance your brand's visibility and reputation.
Public relations involves strategic efforts by individuals or groups to build and sustain positive relationships with their audiences Key activities in public relations include media relations, which disseminates valuable information to attract attention; product propaganda, aimed at promoting specific products; corporate communications that enhance understanding of the organization both internally and externally; lobbying, which engages with lawmakers to influence legislation; and advisory roles that provide management with recommendations on public perception and business image.
Marketing PR plays a crucial role in enhancing brand awareness and comprehension for both new and established products It offers significant advantages for SMEs, including cost-effectiveness, targeted audience reach, and reliability However, challenges such as limited control and intense competition also characterize this service.
To create an effective marketing strategy, businesses must adopt a customer-centric approach rather than relying on their own subjective viewpoints It is essential for companies to engage experienced consultants who possess a deep understanding of both business and market dynamics to help develop and execute a tailored and impactful marketing strategy.
Reality of outsource marketing activities of Marketing Goc Co., LTD 36
Mago Marketing, established by marketing expert Mago Vu, focuses on an innovative approach known as the Original Marketing method This unique strategy prioritizes human needs, enabling businesses to effectively respond to customer demands through tailored products and services The primary goal of the Original Marketing method is to ensure that customer needs are met, fostering a deeper understanding of consumer psychology and enhancing overall satisfaction.
The company aims to provide outsourced marketing services primarily to small and medium enterprises that lack dedicated marketing departments or struggle with ineffective marketing strategies To enhance customer engagement, the company has established a proactive customer care department focused on gathering information, offering consultations, and persuading potential clients Pricing for these outsourced services varies based on the specific tasks and services utilized, with packages available at competitive rates, excluding costs for advertising on platforms such as Google, Facebook, and traditional media Service packages range from 15 million to 60 million per month, ensuring affordability and value for small and medium businesses.
Our company offers major outsourcing services such as:
- Consulting overall marketing strategy: Consulting brand, brand, product products, services, Swot analytics, customer portraits, communication channels.
- Optimizing marketing model: Product strategy, price strategy, strategy distribution channel strategy.
- Standardization of communication materials: Salekit, Company profiles,Company image, product / service image, Company introduction film, movie introducing products / services, promotional film (30s), Video Viral Standardization.
- Optimizing sales promotion strategy: Consulting online sales methods, sales channel optimization method, sales promotion program.
- Advertising booking on: Electronic Newspaper, Traffic Vov, Admicro, Coc Coc, Zalo Ads, Elevator Frame.
- Ads management: Google Ads, Facebook Ads, Ads television, Radio advertising.
- Writing advertising content: Website, Facebook, Google.
- Designing photos, baner for marketing campaigns.
- Producing business introduction video, promotional video, review video product, video viral marketing.
- Website optimization: Standard content, loading speed.
Our company offers a diverse range of high-quality products, ensuring customers have plenty of choices To enhance customer retention, we provide exceptional after-sales services, including maintaining customer information, fostering cooperative relationships, and actively listening to customer feedback Additionally, we strengthen our connection with clients by offering gifts during holidays Customers can also select from various marketing service packages, with our revenue being directly linked to their chosen package.
Environmental factors affecting marketing service
This year brought Vietnam’s rapid, strong economic growth to a screeching halt due to COVID-19 – disrupting trade, supply chains, consumer demand, and travel among others.
The COVID-19 pandemic severely impacted Vietnam's economy, causing GDP to decline to 3.8% in the first quarter of 2020, down from 6.8% in the same period the previous year During this time, nearly 35,000 businesses filed for bankruptcy, marking the first instance in decades where the number of closures surpassed newly registered enterprises.
Vietnam effectively tackled the pandemic by swiftly closing its borders, suspending visas and flights, and implementing social isolation measures This proactive approach allowed the country to reopen its economy earlier than many others, leading to a notable recovery in economic activity According to data, Vietnam is among the few nations, following China, to achieve net positive GDP growth during this period The Asian Development Bank (ADB) projects a 2.3 percent growth for Vietnam in 2020, with an anticipated rebound to 6.1 percent in 2021, contingent on the successful containment of the pandemic.
As we wrap up 2020, we look at six significant events that occurred in 2020 and that are likely to shape Vietnam’s business environment in 2021.
As the economy grows, the demand for reading increases, driven by a desire for knowledge and information Despite the availability of various information channels like newspapers, the internet, and television, books remain essential for enhancing knowledge in Vietnam Higher educational levels also contribute to a greater demand for reading Additionally, in today's fast-paced world, books serve as a vital source of relaxation and stress relief for many individuals The rise of e-books and online book purchasing reflects technological advancements and the need for time and energy efficiency.
E-commerce in Vietnam has significantly advanced due to the rise of 4.0 technology, which has transformed consumer behaviors and lifestyles Modern consumers wield greater power over businesses, placing them at the forefront of marketing strategies The proliferation of smart devices with Internet connectivity has facilitated a surge in both the quantity and quality of products, resulting in explosive market consumption This shift not only redefines marketing approaches but also alters the broader sociocultural landscape of Vietnam.
Assessment outsource marketing service of at Marketing Goc Co.,LTD
2.5.1 Company’s achivements in carrying out outsource marketing service
An analysis of the marketing strategies and business performance of Marketing Goc Co., LTD from 2018 to 2020 reveals that, despite numerous challenges, Mago Marketing achieved significant successes and noteworthy accomplishments in its operations through dedicated efforts.
Outsource marketing's primary success lies in earning customer trust and appreciation Customer feedback highlights the effectiveness of these services, with Mr Dinh Huu Chung, deputy director of Tuan Chau Ha Long, praising Mago Marketing for its team of enthusiastic and talented young professionals He noted, "The marketing products created are very creative, and we are very pleased with Mago Marketing's solutions."
Mr Phan Nguy Chung, the International Cosmetic Chemistry Director, praises Mago Marketing for its comprehensive marketing solutions that have empowered his business in the competitive laundry and dishwashing liquid industry Despite facing significant competition from international brands with substantial marketing budgets, Mago Marketing has provided optimized strategies that enable his company to remain resilient and flourish in the market.
Mago Marketing has successfully leveraged digital media to conduct surveys and gather customer feedback, enabling a comprehensive evaluation of client needs Additionally, the company assesses its strengths and weaknesses in comparison to other outsourced marketing firms By targeting small and medium-sized businesses, Mago Marketing has implemented a pricing strategy that effectively meets the specific needs of its customers.
Mago Marketing boasts a comprehensive nationwide distribution network and operates its own websites, enabling customers across all regions to easily purchase products and services Customers can shop through two official websites, various e-commerce platforms, or directly order services via the company's fanpage and hotline Additionally, Mago's dedicated customer care team is always available to promptly address any inquiries from clients.
Last but not least, the outsource marketing services has contributed to generating significant revenue for the company and helped the company connection with more customers.
2.5.2 The shortcomings in carrying out outsource marketing service
Despite its successes, Marketing Goc Company faces significant challenges in utilizing and managing outsourced marketing services Insights gained during my internship reveal key weaknesses in the company's approach to outsourcing, highlighting areas for improvement in their marketing service management.
The current outsource marketing service strategy is inadequate, lacking coherence and detail To maximize marketing effectiveness, it is crucial to develop a comprehensive marketing plan that guides customers through their journey to a buying decision Unfortunately, the company only addresses service packages and significant events, primarily concentrating on maintaining fan page activities, without a specific outsource marketing plan in place.
The company has underutilized social media platforms like Facebook, relying on basic posts that lack direction and variety, resulting in repetitive content Additionally, the brand fails to resonate with customers due to weak values and similarities with competitors such as Solu Media and Maxgo Complaints regarding translation quality further tarnish the brand's reputation, necessitating improved supervision of translation and editing processes Furthermore, the company's fanpage events and promotions lack appeal, failing to engage customers effectively.
Finally, customer care service is not effective for comprehensive development cooperation,thereforee , the company still ignores many potential customers.
In my opinion, there are some main reasons why Marketing Goc Co., LTD has had those mentioned shortcomings.
The company's young team faces challenges in customer communication, leading to potential mistakes Many employees are new or still students with limited experience, which is common in a startup environment.
The absence of a structured monthly or weekly marketing plan for the fanpage, coupled with a lack of clear goals and direction, significantly hampers its effectiveness Employees are merely tasked with posting content at predetermined times, leading to posts that lack strategic focus Consequently, this approach results in low engagement, with posts typically garnering fewer than 20 likes and minimal reach.
Outsource marketing services are essential for developing a targeted promotional strategy, yet many companies lack a comprehensive marketing plan Typically, staff are tasked with posting basic product introductions on social media platforms, with the individual managing the fanpage responsible for both content and images While the written content is often high-quality, the visuals tend to be subpar due to a lack of design expertise Furthermore, employees primarily focus on promoting services via social media, neglecting website promotion, which hinders the ability to reach potential customers effectively This oversight significantly impacts the overall efficiency of outsource marketing efforts.
Recent fluctuations in human resources have contributed to instability within the company, as former employees have departed or transitioned to new roles This has led to the appointment of new personnel who, despite their potential, lack the necessary experience to effectively stabilize their positions.
The current organizational structure lacks complexity and specialization, resulting in limited focus on market research within the direct marketing team The Marketing Department is operated by a single individual responsible for the overall marketing strategy, sales, and digital media efforts Furthermore, the absence of a supporting team hampers the effectiveness of advertising, leading to suboptimal service performance.
Over the past three years, Marketing Goc Co., LTD has experienced significant achievements in its outsource marketing service management; however, it continues to face challenges in this area To enhance its success and drive further accomplishments, the company must focus on improving its Digital Marketing management strategies.
SOME SOLUTIONS TO IMPROVE EFFICIENCY OF
Orientations and Objectives for the future development at Marketing
3.1.1 Prediction of the marketing service in 2021
The year 2020 was marked by significant upheaval, prompting various industries, particularly marketing, to evolve and adapt to the emerging "new normal."
Regardless of global crises, the marketing landscape continues to expand rapidly With new statistics, technologies, and techniques emerging every day, the ways we connect and market to consumers are in a constant state of flux, making it challenging to stay updated.
To thrive in the rapidly evolving marketing industry, staying ahead of trends is essential As we move into 2021, new and intriguing marketing trends are beginning to surface, marking a shift from the unpredictability of the previous year.
User -generated content (UGC) is becoming a pivotal element in modern marketing as consumers increasingly trust recommendations from friends and social media over traditional advertising UGC encompasses any content, such as videos, images, and reviews, created by users rather than brands, making it one of the most authentic forms of digital word-of-mouth marketing Since the rise of influencer marketing in 2016, 86% of companies, including major brands, have begun to leverage UGC, recognizing its ability to outperform brand-created content The surge in UGC has been particularly notable during times of social isolation, as brands adapt to digital platforms and engage customers to generate the content they desire As Envato's social media expert Jo Birleson puts it, "UGC is like a new 'word of mouth' school for marketing," highlighting its significance in today's marketing landscape.
User -generated content significantly enhances brand trust and authenticity, as it reflects real consumer experiences and feedback This type of content humanizes the brand, showcasing genuine excitement and engagement from users, which aids potential customers in making informed decisions about products Often, user-generated content proves to be more captivating than content created by the brand itself.
Social commerce is rapidly emerging as a dominant force in online marketing, leveraging platforms like Facebook, Instagram, and Pinterest to drive sales With the introduction of online stores and shopping features on these social media sites, it is projected to be a leading trend in the upcoming year Recent studies reveal that 55% of online shoppers make purchases through social media channels, while 71% seek shopping inspiration from these platforms.
To effectively promote your brands, products, and services on social media, it’s essential to embrace social commerce, especially as businesses increasingly shift online in response to the COVID-19 crisis Research indicates that customers are more inclined to make purchases when offered a seamless shopping experience across various channels and platforms, enabling them to shop for products wherever they are.
"go" Earlier this year, Facebook announced eCommerce play platforms, Facebook and Instagram Shops, said Envato's Director of Content Marketing, Julia Fernandez.
These platforms promise to provide an interesting alternative for many brands that want to connect with customers.
In short, the marketing service in 2021 will have a drastic change in form due to the impact of covid translation in order to be able to develop more.
3.1.2 Orientations for the future development at Marketing Goc Co.,LTD
Marketing Goc Co., LTD, a trusted outsource marketing partner for SMEs, leverages its extensive experience to fulfill its mission of "Accompany and help businesses develop." The company focuses on enhancing businesses' understanding of marketing, optimizing their management systems, and improving the cost-effectiveness of marketing services With the slogan "Affirming the value, positioning success," Marketing Goc aims to establish itself as a leading marketing service provider in Vietnam, committed to adding value to society and supporting the growth of Vietnamese businesses and intellectuals.
3.1.3 Objectives for the future development at Marketing Goc Co.,LTD
Towards future growth, Marketing Goc is committed to achieving the following key goals.
The primary objective is to expand the customer base and enhance the company's brand identity A strong brand identity attracts potential customers, encouraging them to explore the company's products and services As awareness grows, more customers are likely to trust and utilize the company's offerings, ultimately driving significant profits for the business.
To thrive in today's competitive market, companies must enhance the quality of their marketing services to ensure customer satisfaction With numerous outsourced marketing firms available, Mago risks losing its current clientele if it fails to invest in service improvements Prioritizing quality is essential for survival and growth in this challenging landscape.
Mago Marketing aims to establish a strong brand presence in the minds of customers and position itself as a leading provider of marketing services in Vietnam The primary objective is to solidify Mago Marketing's market position, enhancing customer proximity and fostering confidence in its services.
Suggestions to improve efficiency of outsource marketing service at
The company's outsourced marketing service management is lacking, as highlighted in chapter 2 Ineffective use of Facebook and other social media platforms has hindered brand attraction, while customer care services fail to support comprehensive development cooperation To address these issues, the company must prioritize enhancing product and service quality alongside improving its digital marketing strategies.
As a result, the business needs the following solutions:
To develop an effective service strategy, the company must conduct thorough research on its customers and the products they wish to collaborate on This involves assessing market demand for those products and identifying opportunities for growth and innovation.
“personalized” content which targets more specialized customer groups, finding out the real problem the customers have and help them solve it.
The company should leverage Facebook and other social media platforms to gain insights into customer needs and preferences By utilizing these networks, businesses can gather valuable information about their target audience, including demographics such as age and gender, as well as interests, enabling them to tailor their products effectively.
To effectively engage customers, companies must enhance their appeal and reputation Creating compelling introduction videos that showcase the company's achievements can build trust among potential clients Additionally, improving customer care services is essential, as transparent and attentive support fosters customer satisfaction and loyalty When customers feel valued and cared for, their trust in the company significantly increases.
Recommentations to improve efficiency of outsource marketing service
3.3.1 Strengthening the organization of outsource marketing service
An effective marketing strategy requires a rational and dynamic organization, where tasks are allocated based on each employee's skills and expertise This thoughtful division of labor enables marketing staff to maximize their potential and leverage the latest advancements in science and technology Consequently, seamless coordination within the marketing department and adherence to the established strategy are crucial for successful implementation.
The company operates three key departments for delivering outsourced marketing services: the Content Creation Department, the Consulting Department, and the Account Department The Content Creation Department focuses on generating and executing creative ideas, covering both design and written content Meanwhile, the Consulting Department specializes in planning and researching marketing strategies to understand consumer needs and insights The Account Department is tasked with acquiring clients through various channels, including websites and social media, as well as developing sales plans, conducting meetings, and coordinating efforts with other departments This structure highlights the necessity for effective task allocation and the potential need for additional personnel in outsourced marketing services To enhance service quality, the company must address existing shortcomings and implement improvements in its marketing offerings.
To optimize workflow and enhance content quality, hiring additional graphic designers is essential for the content team The human resources department should recruit new employees to improve efficiency Additionally, investing in a collaborative system can streamline tasks such as scheduling posts and sourcing quotes, leveraging potential human resources that effectively engage customers Collaborators, including interns or recent graduates, can contribute valuable insights into trends and customer psychology without requiring high salaries It is recommended to have at least 10 collaborators focused on content creation for the fan page, led by a team leader to monitor performance and report to management Furthermore, enhancing customer care services is crucial for reaching target clients, particularly small and medium-sized enterprises.
3.3.2 Implementing a detailed outsource marketing plan for medium and small companies
Facebook offers businesses a platform to connect with customers and monitor their feedback, making it essential for advertising With millions of daily users, having a presence on this social network can significantly boost website traffic To maximize effectiveness, the content on a business's fan page must be well-presented and align with the company's standards and credibility Additionally, the information shared on Facebook should be clear and concise, allowing customers to easily understand the services offered.
Given its numerous benefits, Facebook should be the main marketing channel for the company It is crucial for the company to invest time in regularly crafting marketing strategies to effectively build and manage its fanpage By planning content in advance, the company can establish clear objectives for the fanpage and ensure each post aligns with its overall strategy.
Effective fanpage management is to find the right trends and needs of customers so that it brings satisfaction and trust to them.
To effectively engage potential customers, each post must feature well-crafted, concise content paired with appealing images It's essential for companies to prioritize customer interaction, demonstrating a friendly and attentive approach By showcasing their commitment to understanding and valuing customer feelings, businesses can significantly influence purchasing decisions.
The company should create a monthly marketing plan for its fanpage, establishing clear objectives and strategies Allocating a few hours each month to plan content is essential, adhering to the guideline of 85% product-focused content and 15% third-party related material This approach will provide customers with a comprehensive understanding of the company's services.
The primary objective of the fanpage is to establish a service information channel that showcases outsourced marketing services and offers valuable insights, rather than merely serving as a sales platform This fanpage aims to facilitate communication between customers and Marketing Goc, enhancing brand awareness and enabling customers to easily access and recognize product information.
3.3.3 Exploiting untapped outsource service of the enterprise
Social media marketing has become a crucial strategy for brands and companies across all industries However, Marketing Goc has yet to fully harness the potential of this powerful digital marketing channel, particularly on platforms like Facebook and Instagram.
Marketing Goc has successfully established a strong official fanpage with a substantial follower base and stable long-term support channels However, the company has overlooked the potential of Facebook and Instagram Stories, which are among the fastest-growing features in the history of these platforms, following the News Feed These features allow users to share photos or short videos lasting up to 15 seconds on their profiles, disappearing after 24 hours Since their introduction, Stories have been widely adopted by online communities as an effective and efficient method for sharing information.
Utilizing Facebook and Instagram Stories is an effective strategy for brand building, as these easily accessible stories generate interest and curiosity among viewers With over 300 million regular users of Facebook Stories as of early 2019, this platform presents a valuable opportunity for businesses to promote their products Ignoring the potential of Stories in today’s digital landscape would be a significant oversight for the publishing industry Positioned prominently at the top of users' feeds, Facebook Stories offer an ideal space for content sharing that captures attention This feature is cost-effective and requires minimal content complexity; businesses simply need to post engaging short photos or videos that seamlessly showcase their products to reach a wider audience.
To effectively engage users, the first element that captures their attention is the image, making image quality a crucial factor for driving clicks A compelling and dramatic image that piques curiosity and aligns with customer needs can significantly increase traffic to a product's homepage Additionally, companies should focus on crafting a narrative that conveys the importance and benefits of their products, helping customers connect with the brand on a deeper level Instead of simply sharing a standalone image, businesses can enhance engagement by integrating storytelling elements that resonate with followers, ultimately encouraging them to visit the product's main website.
Facebook Stories and Instagram Stories have become effective tools for brand promotion and showcasing products These short, visually engaging images require minimal effort to create and prevent information overload, unlike traditional posts on a Fanpage.
"must-use" channel for entrepreneurs in this technology era. b For Tiktok
TikTok, a widely popular social network, has captured the hearts of users everywhere As a result, companies should leverage TikTok to connect with a broader audience and utilize it as an effective tool for outsourcing marketing strategies.
Leveraging popular social networks is essential for enhancing the marketing services of outsourced marketing companies, as it enables SME clients to witness Mago's ongoing growth and effectively promote their products.