In our previous blog, we studied the marketing strategy of ZARA, our favourite clothing brand. In this blog, we are going to know about the detailed marketing strategy of McKinsey – the most famous management consulting firm & Company.
The aim of this article is to know insights into how McKinsey became the leading management consulting firm in this competitive world.
Marketing is a part of a company’s DNA that can either make it or break it, as users across the world go digital, marketing has followed them to the digital realm as well. If you are interested in new-age digital marketing, then you should definitely check out IIDE’s Free MasterClass on Digital Marketing 101 by our CEO and Founder, Karan Shah.
We will learn the overall marketing strategy of McKinsey towards the end of this blog. Before we begin our deep dive, let us start by learning the company’s story, target audience and digital presence.
About McKinsey & Company – Company Overview
McKinsey & Company is a leading global management consulting firm founded in 1926 by James O. McKinsey. Business leaders, governments, and institutions search them for expert strategic management advice.
Since 1926, when James O. McKinsey, a University of Chicago professor, opened a Chicago consulting office, McKinsey & Company has provided strategic advice to corporations and other organisations.
Across the private, public, and social sectors, they work with leading organisations in more than 65 countries. They can address problems that no one else can due to their scale, scope, and knowledge. In addition to functional and industry expertise, they have a broad geographical footprint. As a team, they are passionate about tackling challenges that matter to their clients and often the world at large.
As they work with their colleagues, they work with their clients. At every opportunity and every level, they build their leadership capabilities. To build internal support, reach real issues, and make practical recommendations, they do this. As part of the process, they enable clients to fully participate and lead the ongoing effort.
|Market Share/ Revenue||$15+ billion (2021)|
|Vision||To help firms develop and sustain in the market.|
|Tagline||Learn. Apply. Advance|
Marketing Strategy Of McKinsey
Let us now learn about the marketing strategy which led McKinsey to become the world’s leading firm!
Segmentation, Targeting and Positioning
In this fast-growing world where competition is neck to neck, McKinsey found the gap between the customer’s needs and the services offered by various firms. The consulting firm targeted those firms that were in dire need to seek advice as to how they can attract and sustain their customer following the firm’s growth in the industry.
The firm targeted some of the world’s top corporate and political leaders who needed advice and solutions for their long existence in this world. The members of this firm provide recommendations to their clients and the clients apply the same in their organisation and benefit from the same.
McKinsey made its positioning in the market by recruiting the best students from the world’s best b schools after a rigorous interview process. That’s how they skimmed the best people from all over the universities making their firm full of the best advisers for their clients.
In December of 2021, when the term metaverse gathered buzz around the globe, McKinsey also started telling more and more about the same. It helped not only its clients but also the commoners to give information about the same and which also led more people to know about the firm.
McKinsey has built it’s firm a very reputed one since the early 90s itself. It is so famous among the big firms that it does not spend more on marketing. Big firms naturally tend to seek advice and consultancy from McKinsey.
Social Media Marketing
McKinsey is very active on every social media platform. LinkedIn is the place where the firm is most active because of the wide base which LinkedIn provides to the youths from where big firms can hire talented graduates. Mckinsey is also active on Instagram. From putting stories on a regular basis to making informative reels for its followers, McKinsey has almost 350 K followers and the numbers are still on a rise.
As per SEO rankings, it is advisable that the number of keywords – below 500 is bad, above 1000 is good and 10000+ is incredible. As we can see that www.mckinsey.com has 2,265,329 organic keywords which is amazing for a website, which means the digital marketing of McKinsey is gaining a good number of insights.
Also, the traffic per month is around 4 million which is absolutely amazing. Hence, we can see that the company already has a rising SEO which it should maintain and keep rising.
McKinsey is such a big company that it does not have celebrity brand ambassadors to promote. The company’s senior employees become so famous that they do not require an outside personality to promote them.
The company is again so well known that it does not require an e-commerce strategy. It has a very active website with a good website which delivers all the important information through its website alone. It is also very active on social media platforms.
McKinsey has mobile apps not only for the main company but also news and magazine apps, education apps as well as business education apps.
Content Marketing Strategies
The company blog is mostly informational in terms of content and also contains press releases. They post articles on announcements, acquisitions, mergers, events, surveys, and a portion of informational content in the area of finance consultancy. The content on their other social media handles such as Facebook, Twitter, Instagram, etc., are promotional ads to the content on their blog with links attached to the posts. They use social media to promote their blogs which bring attention to their website. This particular marketing strategy of Mckinsey is highly effective in procuring clients and users to their website.
This ends with an elaborative marketing strategy of Mckinsey. Let us conclude our learning below from the marketing strategy of Mckinsey.
Conclusion – What’s unique in McKinsey’s Marketing?
The company’s unique feature is the quality of service they provide to its customers. The company helps big firms and governments to take the right decision, at the right time and in the right course manner.
As the market is growing so is the need for business consultants and advisers. McKinsey took the market opportunity and expanded its base as well as the area of work. As a result, they are now one of the leading business consultants.
Digital marketing is crucial since it links a company with its clients when they are online and is effective across all sectors. It links businesses with ideal consumers through SEO and PPC on Google, social media marketing, and email marketing. If you would like to learn more and develop skills, check out IIDE’s 4-Month Digital Marketing Course to learn more.
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