How a Marketing Strategy Consultancy in Sydney worked out the economic impact of COVID-19 before the Prime Ministers Office did.
The one thing you have to give Scott Morrison full marks for is HONESTY. He is as straight as an arrow. The economy is hit and hit bad; he’s had the courage to be truthful to us on that.
A few weeks ago, a few of us at Dsouza Consulting – a creatively driven Marketing Strategy Consultancy in Sydney, did a little analysis on how badly the economy would be hit. Our calculations were simple. We took the average work day which is 8 hours and reduced it by 5 – as published data informed us that people were working 3 hours a day on average.
We calculated the loss of working hours (5 per day) to be the loss of working capital or people capital. 5/8 X 100 = 62.5. From these simple mathematical calculations , we were able to figure that our economy would be shrinking by 62.5% on the average of the previous year – before the Reserve Bank of Australia or the Prime Ministers Office released the bad news to the market.
Today’s Marketing Strategy Consultancies in Sydney must be focused on numbers
Numbers don’t lie about how good or bad a business situation is. When numerical data is accurate, well collected and concisely presented, small businesses in Australia as well as corporates benefit from the data.
It allows them to weigh their options – and take better decisions as they relate to:
- New product launches
- Marketing or advertising campaign spend
- Consumer research
- Staff hires
- Decisions to outsource like functions like marketing, HR, project management, call centre management – even customer service if need be
- Restructuring and re-calibrating the organisation
Too many Small, Medium and Corporate Businesses in Australia are asking for the numbers when it is too late to do anything about them
The employees of Australian businesses are so disengaged with their paymasters and so engaged with Instagram and Facebook and their phones that they are paying lip service not attention to strategy.
Campaigns are being run without testing or planning and evaluating metrics prior to roll-out. The impact is hitting organisations hard across the board. Poor message and media targeting accompanied by weak consumer insights mean “campaigns are not generating the marketing leads business owners, marketing managers or marketing directors in Sydney expect them to. “
To run a profitable marketing campaign, a marketing manager must show their marketing director or boss the return on investment the campaign has delivered
We use simple metrics at D’souza Consulting, Sydney’s newest Marketing Strategy Company to help our clients in this area
- We calculate market size using primary or secondary data available – where data is not available, we use proxy variables – for example – “we’d look at temperature patterns to work demand for a soft drink in summer or air conditioners for that matter – marrying these to previous year’s sales”
- We then develop what we call Test Matrices – these, we pre-populate with expectations of click troughs, sales and cost of sales plus lifetime value thereafter – we apply these matrices to customers we have segmented into ‘like-buying’ groups
- We then run a pilot- it might be that we serve 5 million impressions of multiple ad creatives to test impact to generate leads and profitably sell
- Finally, when we have the data – we do a a Predictive Model complete with Fatigue Point where we calculate where the Law of Diminishing Marginal Returns kicks in
This approach, in-house developed by us and tested over a decade in marketing ensures we forecast and budget sales, revenues and profit- accurately!
COVID-19 has had an impact on Marketing Spend of Clients in Sydney
Clients have had to be more conscious of where they put their money ensuring they do get a return – either positive awareness or engagement and sale. We believe, at D’souza Consulting Sydney, we are one of only a handful of agencies able to to design and deliver marketing programs that are robust enough to withstand the pressure COVID-19 has put on marketing and sales staff across Australia and indeed the world. today.
To learn more about us or to arrange a FREE Initial Consultation over coffee (real or virtual), please contact us today on 0450 545 725 or email Patrick@dsouzaconsulting.com.au
