[Some of the McKinsey Development team pictured on what will now forever be known as "blue hue day". Any similarities in the apparal choices above were legitimately happenstance.]
A Modern Agency.
Last week a client mentioned something to me in conversation that really stuck. The client was commenting on the unique nature of our agency structure in that we have a diverse and talented resource pool of team members available to scale and adapt quickly to client business needs. I've never considered our agency model all that unusual or groundbreaking. But the client was right in commenting on the fact that we consciously trend away from the billable hour model towards a value and deliverable based model that is a win-win for client and agency.
How does it work?
When you engage with McKinsey Development, we take a look at your overall goals and objectives in several areas, including revenue, market share, and brand sentiment—both actual and desired. We work with our clients to develop an overarching strategic marketing and outreach plan that includes identification of all deliverables needed to accomplish the goals. We then divide the investment it will take to reach these goals over a fixed amount of time—usually 12 months—and voila: You have a fixed monthly retainer you can count on. No more wondering how many "billable hours" you've accumulated over the course of the month, if that web edit took 1 hour or 4 hours, or if a quick phone call is going to be reflected on your next invoice. So long as the activities being performed by the agency relate back to the agreed-upon strategy and deliverables, you'll always be within scope.
If I hire your agency, what happens to my in-house marketing manager?
We thrive when working with client marketing managers/directors and team members. In fact 90% of our clients have an internal marketing resource in addition to the resources provided by our agency. Our job is not to replace an internal marketing resource, our job is to give your internal resource a team of integrated marketing communications experts and implementers for a fraction of what it would cost to hire an entire department. (Go ahead—price it out!)
Why should I hire a full service agency?
If you go to a firm that specializes exclusively in pink widgets, you're likely to be pitched on the merits of utilizing pink widgets to propel your business. In fact, you may even be advised to spend your entire budget on pink widgets (because pink widgets are fantastic of course). That is great, so long as your return on investment with pink widgets warrants abandonment of all other widgets available to help you grow your business.
When you work with a full-service agency whose core expertise is strategy, you'll be presented with the pros and cons of all available widgets, and guided towards the selection of the mix that will produce the most impact. When the agency is also equipped with expert resources in a broad range of integrated marketing areas, the firm can also implement these strategies for you.
So, how much will it cost?
Our agency retainers are straightforward and easy to understand. Dedicated firm resources of 10-15 hours per month would put a starting monthly retainer at $1,500, for example. Our average retainer for a mid-size company with full service strategy and implementation is approximately $7,500 per month.
What is included in my retainer?
Retainer deliverables vary based upon the uniquely identified needs of each client. Some clients bring the McKinsey Development team in solely to consult on strategy each month. Others prefer our expert team members implement strategy for them in our areas of core competency, including: marketing, public relations, advertising, branding, copywriting, ghostwriting, social media, graphic design, marketing collateral, web design, email marketing campaigns, direct mail campaigns, mobile marketing, apps, PPC and videography.
Any other benefits?
Yes, a big one if you are concerned about working with an agency that is not working with your competition... we don't. McKinsey Development has a long-standing policy of not representing competing entities in a retainer capacity in the same market. It’s not uncommon in our business, but we think it’s worth pointing out.
Interested in knowing if we are accepting clients in your vertical? Send us a note.
According to a recent study, Facebook is still the leading active platform among Millennials, Gen X, and Baby Boomers. That being said, Facebook shared some good news earlier this week for business owners wishing that there was a digital solution for replacing promotional storefront signs and even roadside billboards for their prime target markets.
This week, Facebook announced a new ad feature: local awareness ads. This new feature will allow businesses to quickly and easily grab the attention of potential customers who have recently been within a certain radius of their location. A “Get Directions” button can also be included in the ad.
This feature is different from location targeting, currently available on Facebook. The new method of ad targeting will allow advertisers to target Facebook users who are in the physical vicinity of a business.
Facebook shared in a post that local awareness ads will roll out to U.S. advertisers in the coming weeks and globally in the coming months.
It’s important to note that, as a user, sharing your location with Facebook is nothing new.
“Local awareness ads were built with privacy in mind. Advertisers select locations, not specific individuals, for local awareness ads. People have control over the recent location information they share with Facebook and will only see ads based on their recent location if location services are enabled on their phone.”
Take a look at your Facebook ad strategy. Would including nearby users in your target audience be beneficial?
In a day where your client doesn’t have the time or the attention span to read more than a tagline for your company, the importance of an arresting visual is vitally important to the success of any marketing strategy.
Visual marketing (a.k.a. design) is like a first impression of your company. Whether it seems fair or not, what you look like when meeting someone for the first time communicates a lot about you to that other person. If one of your designs was the only thing a future client knew about your business, would they want to work with you?
Design is also how you tell your story. In college I had a friend who went into a Barnes & Noble and captivated an entire audience of ADULTS with his reading of The Cat in the Hat. He was vibrant, had strong inflection and infused emotion into the story – I doubt that the Visine Dry Eye Guy would have the same results. Your goal with design is to create a memorable first impression and an intriguing story.
Chances are, the story you want to tell isn’t boring! So let your design reflect that. I used to consult for a company that knew its marketing success was poor, yet they refused to change their design strategy because of tradition. Don’t fall into this trap. Just because something was successful before, doesn’t mean it is successful now.
How do you, then, create “good” design? You must, must, MUST know your audience. You’re not designing for yourself. You’re designing for your audience. For example, if you’re marketing to women 18 – 35 years old, just look at Pinterest. Millennial women are searching for natural clothing silhouettes, organic recipes, burlap crafts, timesaving organizational tips, etc. This generation wants chic, wholesome, simple, quick. If this is your audience, your designs should reflect that.
Take a hard look at your design strategy. Are your designs successfully catering to your audience? If not, what needs to change?
The general ground rule at McKinsey Development (MKD) as it applies to blogging is “blog when you have something you are passionate about saying.” This is two blogs in two weeks for me. Clearly I have something to say about marketing to diverse audiences. Last week, I commented on Millennial generation outreach, as it applies to brands. This week, I want to talk briefly about Generation X (Gen X).
Here's what's on my mind as it applies to Gen X marketing:
Gen X is special.
In today's day and age some will argue that we are all special. But, hear me out. Gen X is legitimately a special market constituency.
Let's start on background. Gen X is typically defined as the generation born between 1965 and 1979 (with some margin for inclusion). We don't hear a whole lot about Gen X (think: Lord of the Rings), compared to the Millennial (think: Harry Potter generation) and Baby Boomer (think: Gone with the Wind) conversation.
Why? Well, there are a lot of opinions about this. One could argue that it is simply sheer number. The Baby Boomer population weighs in at 77 million and the Millennial population around 83 million. Gen X on the other hand is a constituency of about 65 million.
While Gex X may be less distinct, the child of the Baby Boomer and the parent of the Millennial is extremely influential. The Gen X'er is the navigator. He or she takes in information, sorts through the fluff and shares findings with parent and child.
Nothing you do and nothing you say as a brand is going to convince a Gen X'er to trust you enough to make a recommendation to their parent and/or to their child. This generation requires demonstration. This generation also remembers the days before digital marketing and still appreciates traditional outreach. Samples, tours, demonstrations, special events, one-on-one meetings and phone calls, evidence-based publications...Gen X appreciates "tried and true". Your website, social media efforts and digital strategies peak interest and engagement with this group--but they may not tip the boat. You have to let them in, hold that open house, produce the key people behind the brand and demonstrate authenticity.
And when you do earn a Gen X fan, you may earn a fan for life, as this generation is known for having the highest brand loyalty.
Are you considering Gex X in your marketing outreach efforts? If not, why?
It seems there is much ado about Millennials these days in the marketing arena. Rightly so, given that the generation of individuals born between 1980 and 2000 now makes up around 25% of the U.S. population. Business owners and marketing leaders must shift our mindset when it comes to communicating with this influential market segment. In fact, let's remove the word "marketing" from our vocabulary altogether when it comes to Millennials. Millennials don't like "marketing". They (and I should say we) pick out and discard push messaging at lightning speed, moving through multiple browsers simultaneously while silencing ads and invasive messaging. It's difficult to get our attention and even more difficult to keep it.
So what's a brand to do when it comes to Millennials? Here are some ideas:
1.) Stand for something. In a world where everyone has awesome friends, fabulous vacations and the perfect #ThrowBackThursday picture each week (according to my Facebook feed at least), the Millennial generation is craving authenticity. In fact, take a look at the reaction a Millennial receives from the social media sphere when he or she admits their day isn't going too well or they've experienced some form of personal loss. Their tribe rallies and steps in with social support in the form of likes, shares, messages, stickers and eCards. Millennials are sensitive to the world around them and want to contribute to the greater good. We're used to documenting our lives and we trust brands who do the same. Have you seen the new Under Armour commercial with Misty Copeland? Prime example of a brand stepping up, telling a story of perceived injustice and celebrating the perseverer. We'll even pay more for a product we believe in. Tom's is a great example. $60 slip-on shoes? Sure! One for me and one for a child who needs a pair. What causes does your brand support? What values does your brand hold dear? Are you talking to your millennial audience about your brand mission as it relates to social responsibility and the greater good?
2.) Don't tell us what to do. Don't tell a millennial what to buy or where to buy it. "I'd never do that," you say? If your primary messages and brand communication strategy revolves around sales, promotions and bullet point lists of why someone should buy from you...you are doing that. Millennials want to discover things on their own time at their own pace. We like doing our own research and being the first to tell our tribe we've discovered a great restaurant, winery, clothing line or experience. We like to be asked for our opinions and input, and we love it when you listen! Ask a Millennial to help you craft your next ad, commercial or engagement strategy. They'll not only want to contribute, they'll want to share the end result.
3.) You come to us. The Mad Men era advertising trifecta of TV, radio and print is no longer relevent when it comes to capturing Millennial interest and enthusiasm. We're streaming Pandora while strategizing our next play on Micromon or Minecraft, pausing only to keep up with our text messages, chats and news feeds. We are the ultimate multitaskers and if you want to communicate with us, you have to be where we are.
Take a good look at your brand outreach plan. Do you have a specific strategy for reaching and engaging with the fastest and most influencial group of our consumer population? If you don't, why not?
Some argue that the average reader is completely indifferent toward grammatical accuracy. An opportunity to contribute to a virtual conversation, some observe, can cause a linguistically deranged frenzy that knows no bounds. Recently, while idly scrolling through my Instagram feed, it was hard to ignore the total and complete grammatical anarchy on some of those longer threads. It occurred to me that the art of conversation has inarguably gone from a physical experience to a virtual one; it’s only natural that the formality of writing has entered a new phase. So the question becomes: are the once widely accepted rules of ‘proper’ English a thing of the past?
There are conversations being had amongst those hip scholars on TED that report that the casual written speech of texting, blogging, tweeting, et cetera, is a “miraculous...energetic…emerging complexity.” Texting, linguist John McWhorter argues further, it is not writing at all. It’s…talking!
While “sharing ideas at the speed of talking” has become the new norm, and no doubt has had a critical impact on the way news spreads in modern society, writing still ought to remain a conscious process. From a marketing standpoint, writing well is intimately linked with reaching target audiences well. When we lose this consciousness, it can mean the difference between Rachel Ray finding inspiration in cooking, her family, and her dog and cooking her family and her dog. It is the difference between inviting our grandfather to sit down and graze at a family meal (“Let’s eat, Grandpa!”) and serving him up as the main course (“Let’s eat Grandpa!”).
Has proper grammar joined the lost arts of handwritten letters and cursive handwriting, or will it become the ultimate differentiator between "good" and "great" marketing?
I remember sitting in a tent made of bearskin (well actually, under the shade of a curiously aromatic old sheet) on a boiling summer evening. Ignoring the heat, or perhaps relishing it, my hunting partner (my 10-year-old playmate) and I tore into the carcass of a deer we had just taken down (a piece of London broil her mother had given us as a snack) with remarkable expertise. The blood (ketchup) stained our hands as we proudly licked our fingers.
I’m all grown up now, and yet here I sit, gazing back in the other direction. Sometimes I wonder what happened to the formidable creative streak that was as much a part of me as my sweat or my heartbeat. As we age, advance in our careers, and take on a great number of responsibilities, we forget one very important thing: how to play. In the world of psychology, it’s widely accepted that children possess a purity and energy that unlock the creative process. We are now in an age of some of the most innovative companies the world has ever seen, and these companies are changing the culture of business by embracing this very notion—that the kids have it right.
Think of it this way: a child’s mind easily conceives of a thousand ways to fill the hours of a sluggish afternoon, so couldn’t an adult whose joy and spontaneity has been nurtured conceive of a number of productive ways to launch a company into infamy? Google knows it! The company’s whole philosophy stems from the fact that stressful and uninspiring work environments don’t produce collaborative innovation.
As a result, Google’s employees are happy, productive, and enthusiastically contribute to the success of the company. In businesses across the world, let us not only embrace our inner-child, but invite her to come to work with us.
When utilized correctly, social media has proven to be a powerful marketing tool for connecting businesses with their target audiences. But now, with the (over) abundance of social media platforms available to businesses and consumers alike, it's important to be able to decide which ones are worth your time.
Instagram, an online mobile networking service based on photo and video shares, is one such trend that has amassed a tremendous following. However, is it right for YOUR business? We'll let you decide that. Our goal with this savvy infographic is to give you a quick summary of what Instagram could do for your business in 60 seconds or less.
Over the last 10 years print media has lost ground in the digital media boom, facing competition from smart phones, iPad, internet, social media and many other digital media. The recent annoucement of four large daily newspapers, including the New Orleans Times-Picayune, cutting back to less-than-daily frequency while boosting digital efforts, is yet another of many examples.
Although print has declined, there is still a need for print in marketing and advertising. cmyk Print media is tangible, portable and moldable, it can be carried with a person without the need of technology. A person can feel the texture of the paper, turn the pages of a magazine, see the brilliant colors shine on the page of a high-gloss photography book. Paper can be any size, shape or color, it can enhance an idea and become a work of art. In advertising print can become larger than life in the form of billboards that can drive traffic to a website or inform you of discounts at the closest hotel. It can be the smallest printed teaser card to generate buzz of a new restaurant opening. A print piece can engage a person, interact with a person in ways the web cannot. Print has the diversity of being able to stand alone or work with other media to create dynamic and effective multimedia marketing campaigns.
The use of QR codes can drive traffic to websites in a quick and effective way. Statistics show that campaigns that combine printed direct mail pieces with internet advertising yield up to a 25% higher response rate than using internet alone, according to the Direct Marketing Association. typeface Print has a credibility that the internet is lacking. There is an ease with print that you don’t get with onscreen text, a sense of being more trustworthy. In fact many studies have shown that print is still considered more credible than online material. This is because print is more permanent, it has to stand up over time, while the web is fluid, it changes, information can be rewritten very easily or even deleted.
So while many may think print is a thing of the past, there are many practical uses for print media in today’s digital world. Print has been around for thousands of years in one form or another and print will continue to be an important part of society for years to come.
Alyssa Gorman and Janai Rau, two Fauquier County natives who were hand-picked from a competitive pool of applicants, have started eight-week internships at our MKD headquarters in Warrenton, Virginia. Both interns have taken up residence in “Times Square” at our office.
Gorman, a rising senior at George Mason University, is a Warrenton native with a passion for television production. She is currently working towards a degree in film and video studies with a concentration in business. Gorman, who worked on the set of the locally produced “Be Better at Business TV” series, will utilize her collegiate and field experience to assist several McKinsey Development productions this summer.
Rau is also a Fauquier County native. Studying at Virginia Tech, Rau is working towards a degree in graphic design. Enthusiastic about digital design, Rau would like to channel her skills through advertising.
We received a record number of summer internship applications this year. Gorman and Rau were selected based on an overarching standard demanding an enthusiasm for learning, willingness to be challenged and collegiate track record of success. Offering a full workload of dynamic projects, our two interns will have the opportunity to work side-by-side with firm leadership on specifically assigned account projects.
Our internship program seeks to demonstrate to its interns, through immersion, the significance of all aspects of integrated marketing communications—and the importance of these aspects working together effectively.
Our firm's CEO and founder, Crystal McKinsey, is a firm believer in the formative power of internships. “Initiative is the number one quality I look for in any applicant,” shared McKinsey. “You can teach strategy, best practices and integration…you can’t teach initiative. Gorman and Rau were standouts during the selection process and our team is looking forward to both teaching and learning from these talented young professionals."