Businessmodel of Essence

Customer Segments

Essence Digital has a mass market business model, with no significant differentiation between customer segments. The company targets its offerings at firms of all industries and sizes.

Value Proposition

Essence Digital offers four primary value propositions: accessibility, risk reduction, performance, and brand/status.

The company creates accessibility by offering a wide variety of options. It offers a comprehensive digital marketing solution, with services including search marketing, social media advertising, website and app development, eCommerce, data analytics, and automated ad-buying. Its media team can create connections regardless of media type – earned, paid, owned, and borrowed.

The company reduces risk by providing clients with beginning-to-end visibility on costs, agency fees, commitment, and performance.

The company demonstrates strong performance through tangible results. High-profile examples of positive outcomes for specific clients include the following:

• Pret A Manger used Essence Digital’s services to develop a new mobile website, resulting in 235,000 page views and 52,000 visitors within the first month despite no formal advertising
• Method used Essence Digital’s services to design a new cross-channel advertising strategy, resulting in a 142% lift in unaided awareness and a 5-7 point increase in purchase intent goals
• Google used Essence Digital’s services to increase awareness of its Google Store, resulting in over nine million views and increases of 38% in awareness and 50% in purchase consideration
• The Financial Times used Essence Digital’s services to attract younger subscribers and increase efficiencies, resulting in a 110% growth in marketing-driven subscriptions year-over-year and a 24% reduction in cost per subscriber. The company has established a strong brand due to its success. It has over 540 employees, with its staff speaking more than 30 different languages. It manages more than $850 million a year in digital ad spending, and implements campaigns in 71 markets across the world. Its prominent clients include Google, eBay, YouTube, Expedia, HP, Tesco Mobile, and the Financial Times. It oversees promotion for five of the top 50 apps worldwide. Lastly, it has won many honors, including *AdWeek’s *Project Isaac Award for Media Planning Invention (2016) and two MMA Smarties Awards (2016).

Channels

Essence Digital’s main channels are its direct sales team and its website. The company promotes its offering through its social media pages and participation in conferences.

Customer Relationships

Essence Digital’s customer relationship is primarily of a dedicated personal assistance nature. The company works closely with client staff to develop digital marketing strategies.

Key Activities

Essence Digital’s business model entails designing and developing its services for clients.

Key Partners

Essence Digital does not maintain any formal partnership programs.

Key Resources

Essence Digital’s main resources are its human employees, who include the analytics teams that use data science to solve problems and the media teams that offer creative services.

Cost Structure

Essence Digital has a value-driven structure, aiming to provide a premium proposition through significant personal service.

Its biggest cost driver is likely cost of services, a variable expense. Other major drivers are in the areas of sales/marketing and customer support/operations, both fixed expenses.

Revenue Streams

Essence Digital has one revenue stream: revenues it generates from the fees it charges to clients for access to its services. Company staff must be contacted directly for specific pricing information.