Importance of Marketing Process Review by Doble Group@2013


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Importance of Marketing Process Review by Doble Group@2013

  1. 1. The Importance of Marketing Process ReviewsOld school marketing versus new world, or more appropriately digital marketing –either way - there has been a major shift in the balance of power to the customer.Today’s customer is socially and proactively searching for services and productsonline. Smart brands are embracing this evolution by focusing their marketingenergies on producing content that’s accessible through the social networkcommunity.The Marketing Cloud is a pretty cool application that tracks sources across the web,including Facebook, Twitter, YouTube, LinkedIn and Google+. It offers real timedashboards with actionable insights such as customer opinions, ratings and feedbackso you can connect, keep a pulse check on your brand and react quickly to issues orfeedback. Social insights also enables you to make better business decisions inmarketing, sales and service; and measure the impact your campaign is having drivingengagement, conversions or other social metrics across all social channels in oneplace.So how are you getting your information out there for people to find you? Do you havea holistic marketing strategy?Getting the Word OutYour marketing strategy should create product or service awareness. Find the best andefficient way to promote your product, service and your company to your targetedaudience and prospective customers. Once you get people talking about your product,an experience, an issue, a brand, you can make a tangible impact.Sales ImprovementsAs your customers begin to “spread the word” for you, you should see sales steadilyincrease as your awareness grows in the marketplace. delivers an 1
  2. 2. integrated solution featuring real time dashboards, workflows and automation. Italigns sales and marketing to drive better quality leads. It applies sophisticatedanalysis and rules to organize conversations across the web; use social insight to buildmore accurate customer profiles and share insights with your teams to optimize socialcampaigns, align sales and improve customer service.Brand RecognitionThe success of a company often rests on a solid reputation. Marketing builds brandname recognition for your company or product. Again, as your reputation grows, yourbusiness should expand and sales increase. The reputation of your company is built oneffective communications – which are supported by your marketing efforts -- andmost importantly, the quality of your products or services. Even the most effectivemarketing programs cannot sustain, over the long term, the delivery of poor productsor services.Some Additional ConsiderationsAlthough marketing is very important to the success of your business, it can be veryexpensive if not carefully planned. In its first year, a company might spend as much ashalf of its sales on marketing programs; getting the word out at this juncture of acompany’s existence is critical. After the first year, a marketing budget can reach asmuch as 30 percent -- sometimes a little more--of annual sales. A marketing programthat gives your company the best chance of survival uses a healthy mix of traditionaland digital marketing strategies -- website development, public relations, print and/orbroadcast advertising, email marketing, print and electronic marketing communicationpieces, webinars and other special events, to name a few.Important Marketing Activities for ReviewWhether youre operating an established business or starting a new one, marketing issomething that cannot be done sporadically. To be effective, your marketing effortsmust be continuous as well as targeted at the correct audiences, to ensure theirsuccess. Following are some important marketing activities that should be included inyour review process. 2
  3. 3. BudgetingMarketing expenses can range from very small to very large, so you need to determinehow much you can afford to spend. If you’re starting a new business, your marketingstrategy and budget amounts should be included in the business plan that you createbefore launching your business. Having a clear budget will force you to closelyexamine how youre spending your marketing dollars.TargetingMost businesses do not have the luxury of trying to be all things to all people. Identifywhat it is about your business that differentiates you from your competitors, and gearyour marketing strategy toward those people who would receive the greatest benefitfrom that differentiation. For example, if the unique benefit of your business is thatyour services improve the sales process; gear your marketing efforts toward companiesthat need to improve their sales activities.Development of ObjectivesMarketing can be used to achieve a number of objectives, such as increasing sales,providing information or promoting a special event. Determine what you want toaccomplish through your marketing efforts and tailor your message accordingly. Forexample, if youre advertising a special promotional program, offer a premium to thefirst 50 people who take advantage of your special program offer.Analyzing the CompetitionBe sure to devote some time to analyzing your competition. Study their marketingefforts and determine what appears to be working for them is a good place to start.Youll also gain valuable information about who they view as their target market, whichcan help you determine how to position your own marketing efforts. For example, ifmost of your competition seems to be targeting a specific business group, emphasizea benefit of your product or services that may appeal to a different business segment.This will allow you to reach an untapped market. 3
  4. 4. Service Your Customer BaseThe old adage is no joke…”It costs much less to keep a customer happy than it does toattract a new one”. Keep in touch with your customer base on a consistent basis bysending them email newsletters or other special offers that can lead to futurepurchases. Have your customers do some of your marketing for you, by setting up areferral program where you reward them for recommending new customers to yourcompany.ConclusionThere are a number of factors that can make up a successful, strategic marketing plan.However, when reviewing your own marketing business processes make sure yourmarketing program:1. Thoroughly understands and covers your target market;2. Contains and sets clear and measurable goals and objectives;3. Uses communication tactics that will connect with your target audiences; and4. Consistent. Every activity should be conducted on a consistent basis, over time. It isimpossible to predict when your targeted marketing messages will most likelyinfluence a buying decision. 15715 South Dixie Hwy, Suite 202 Miami, FL 33157 Phone 877-362-5348 Email: 4