The market place – any market place – is noisy and crowded. Marketing has moved towards a content, value-driven strategy where companies are competing (even more so) for market attention. Below are my recommendations on how to cut threw the noise.
- Build a marketing strategy
Be sure to include the following elements:
- Strategy: Start with a business strategy that addresses your target customer, market, technology and business needs
- Products and services: Have a quality offering that meets customer needs (both stated and unstated) better than the available alternatives
- Target audience: Understand as much as you can about your prospects and customers – who they are, what they need and want, and how you can best provide value
- Competitive and market analysis: Understand the market in which you compete, including as much as possible about the industry and competitors
- Brand: Build a strong brand and reputation in the minds of all key audiences – customers, partners, employees, shareholders, the local community, and others
- Communication: Effectively communicate the value you provide so as to generate demand
- Sales and distribution channels: Provide the right tools to enable those who sell and recommend your product to be successful
- Operations: Deliver, track, and analyze your marketing efforts to understand what’s working and where changes should be made
- Think digital
If you’re not thinking digital first, you’re already behind. Be able to develop and deliver targeted digital campaigns that will provide an increased return on investment (ROI). Measure and track your digital marketing and make executable improvements, while focusing on lead generation.
- Create alignment
Marketing will succeed or fail based on your planning and execution. Alignment along internal and external stakeholders will increase the performance (and results) of your marketing strategies. Even some of the most creative marketing initiatives can fall flat if you don’t have alignment.
Have consultative and collaborate conversations between marketing team members and business stakeholders to create alignment. Review to make sure you have the resources (and budget) available to execute your strategy. Great marketing initiatives fall short if they are not provided sufficient resources. Have you thought about the technology required to execute your strategy? You need to. Exploring opportunities here also aligns with executing a successful digital marketing strategy.
Marketing needs to have a strategy is you want to successfully cut through the noise and have a valuable impact in the market place.
M3 ~ Morgan Melnyk Marketing 