In today’s economic environment, it is back to the basics.
The key to surviving in today’s challenging business environment is delivering consistent performance over time. But more than revenues and profits, performance today is measured in terms of value. While often hard to quantify on the balance sheet, value is what separates great companies from their competitors. The following beliefs are key for a company to succeed and be profitable:
- Be true to your customers and your people.
- Recognize the power of character and credibility over charisma.
- Establish trust and building brand loyalty.
The pause in the current economy provides an opportunity for businesses to reassert their values and set a course for a stronger future. Leading-edge companies are using this time to their best advantage by developing incorporating an integrated marketing communication approach to their business goals. Business problems can only be solved by addressing them strategically. Look at the “big picture” before any work or analysis begins on a project. You have to make certain that all marketing plans and strategies are informed by your business goals and objectives.
How does a Smart Marketing Process work?
- Situation Analysis – What’s happening now?
Define the problem or challenge.
Purpose: Determine internal and external perspectives and attitudes about your products or services.
Tools: Primary and secondary research through informal and formal methods such as surveys, reviewing existing materials, focus groups, interviews, etc. - Planning and Programming – What should we do, say or change?
Determines goals, objectives, strategies and tactics based on information gathered and evaluated from the Situation Analysis.
Purpose: Define how to get your internal and external audiences to gain acceptance of your organization’s idea(s), attitudes, beliefs and/or sales proposition.
Tools: Advertising, public relations, promotion via campaigns, direct marketing, and online communication. - Taking Action and Communicating – How do we do it?
Implement the plan
Purpose: Achieve the specific objectives for each of the publics/audiences in order to accomplish the overall program goals.
Criteria: Timetable, budget, personnel assignments, outsourcing, etc. - Evaluation and Assessment – How are we doing?
Assess the development, implementation, and results of the plan
Purpose: To make adjustments based upon the evaluation feedback and determine if the program should be continued, stopped or concluded.