Thursday, October 1, 2009

Is our Marketing program expendable?

Is MARKETING just a Department...
… or should it be your company-wide ACTION Blueprint !

As businesses contract and look to survive during this business downturn, we hear executives and boards talk about many types of actions or inaction, what are the trade offs: who to let go... what departments to focus on... where to cutback ... or even what can we do in the meantime. Right now there is a major drumbeat about what part of the operation is necessary, or what is unnecessary, or what are the true centers of revenue and ultimately what is driving our staying power?

All too frequently it boils down to a surface assessment that looks at an immediate value or perceived justification of current ROI. Many people would argue that the Four P's of your traditional Marketing program are already defined and therefore don't need any work during a slowdown. We challenge that just the opposite is actually the case. Now is the critical time to insure that decisions surrounding your approach, and more importantly, the effective execution of product, price, place and promotion are paramount. The real test of looking at your "Marketing/Business Plan" is that your entire marketing strategy, and more importantly the tactical implications of that strategy, should impact and drive every aspect of the business. Your commitment should be to an aggressive execution of your ultimate offering.

"The Essence of your tactical Marketing" ... Your Marketing Strategy should actually be the overriding Action Blueprint that touches every department within the organization.

Key Tactical Marketing Elements and Their Operational Touch Points:
  • Understand the market and know your current marketplace
  • Uncover your true brand and then hone your value-added product offering
  • Develop a pricing strategy that works for you and works for your customer
  • Create new product buzz, promotion and advertising should tell a compelling story
  • Conduct effective sales initiatives that stimulate and target your core audience
  • Provide excellence in service and support, then stand with your product or service
  • Value your customer and find a way to follow-up and let them know you truly listen
  • Exact continuous improvement throughout your organization and encourage new ideas

The elements to accomplish this require attention and leadership that is committed to this over-arching market approach. In today's environment you need to ask if your people and your implementation is... adaptable, communicative, disciplined, enthusiastic, mission conscious, self improving and tenacious. Only if you can insure that this is happening daily will you succeed at maximizing the results when a robust market returns.

---- The Performance Detective

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