Social media, data analytics, marketing automation, return on investment, corporate branding, marketing mix and marketing promotion… Addressing these and many other marketing mandates can wreak havoc on even savvy, experienced marketers. To avoid the chaotic marketing madness, here are five marketing management strategies to put your marketing initiatives on an even footing and generate the results you seek.
We’ve been blogging for almost 10 years now. During that time we’ve covered a wide range of marketing, communications, media outreach, content development, public relations and general business topics. Along the way, we hope that readers have found our tips, suggestions and ideas practical and informational and can use them in their business and personal lives. To get a different perspective, we’ve asked some of our clients to share the best marketing advice they’ve received through the years. Here’s what we heard.
Often, the focus of marketing initiatives is focusing on how to bring in more customers. Yet, did you know that it is 6-7 times more expensive to acquire a new customer than it is to keep a current one? That’s a statistic worth considering.
The reality is that the value of current customers is often overlooked when setting marketing goals and priorities. The process to retain customers should begin after their first purchase to ensure the development of a meaningful relationship, future sales and ongoing loyalty.
“What’s in it for me?”, also known as the WIIFM factor, is a value proposition that relies on instincts. It is human nature to make changes and decisions based on how a product or service will impact the individuals using the new purchase. So, to generate more leads, here’s what communicating the WIIFM looks like.
Marketing analysis has come a long way from inserting numbers into Excel spreadsheets. Basic information can come from Google Analytics, surveys, focus groups and input from sales teams. Even better, evolving marketing technologies enable companies to access massive amounts of data about their customers and prospects. This data can tell marketers more about how customers
CEOs run organizations. They are the highest-level executive officers in the company, and their primary duties include driving revenue and profit, making major corporate decisions and managing the overall operations and resources of a company. Even if the company is small, there’s still only one person at the top responsible for those key functions. As business becomes more competitive, complex and global, the need for CEOs to expand their knowledge beyond finance and operations to sales and marketing is an imperative.
As we approach the second half of 2017, have you thought about reviewing your marketing plan? Even if the company is achieving its goals, it’s still a good practice to assess, evaluate and make course corrections. On the other hand, if your marketing projects are falling through the cracks and causing the company to miss performance benchmarks, there’s no question about it… it’s time to go back to the drawing board.
In our personal lives, we often talk about the non-negotiables of relationships. For example, finding a mate who wants to have children, someone with whom you share chemistry, an individual of high intelligence, a person who has a great sense of humor, and the list goes on. Similarly, there are non-negotiables in business, and more specifically when it comes to marketing.
Email continues to thrive as a powerful marketing strategy thanks to its familiarity, flexibility and cost-effectiveness. To stay relevant and stand out in a crowded inbox, consider these six guidelines for building winning email marketing campaigns.
The term “corporate communications” conjures up a vast array of visual images from brochures to blogs, emails campaigns to event announcements, and press releases to policy statements. Other communications initiatives include content related to marketing strategy, direct mail, advertising, public relations, reputation management, public affairs, investor relations, tradeshows and conferences, social media…. and the list goes on and on.
Academicians have long recognized the value of publishing. In fact, having a book or series of scholarly articles published was often a requirement for tenure. Hence, the term “publish or perish” became a prominent theme that characterized the need to continually publish to advance one’s academic career. In business, getting published is important for even more reasons.
There are many ways a marketing program can go wrong. Perhaps an email is sent to the wrong audience segment. Or perhaps a budget shortfall derails a campaign before it is finished. Maybe your audience doesn’t respond to your messaging the way you expected. Many work-related challenges involve factors beyond our control. But it’s more common that we sabotage our own efforts.
Multichannel marketing. Everyone is talking about it. Yet, when all is said and done, there are often more questions than answers—especially when it comes to identifying the right mediums to use to attract the customers and revenue that companies seek. One reason for this complexity is due the vast number of variables to consider in multichannel marketing.
A corporate logo is one part of a company brand. This includes the graphic depiction or representation and the consistent use of colors and type fonts. However, a well-conceived and well-developed brand goes much deeper. It represents the totality of who you are as an organization rather than the specific products or services you sell. And it takes into consideration specific components.
While most business leaders recognize the importance of having a strategic marketing plan that provides a roadmap for accomplishing critical sales and business objects, some companies simply don’t make this initiative a priority. Creating a strategic marketing plan need not be complex or cumbersome. However, it does require the brain power of contributors throughout the organization.
There’s no denying that the face of marketing has changed dramatically over the past decade—even in the past year. More and more, marketing pros and students are acquiring abilities. In the meantime, however, there’s a skills gap that organization leaders struggle to bridge.
In an ever-expanding sea of information available on the internet, how can you grab your target audiences’ attention quickly and effectively? One way to accomplish this is through the use of eye-catching and informative infographics.
You’re probably aware of the term “marketing automation.” And you’re probably thinking it means automating some or all the various tasks involved in marketing your brand and growing your business. That’s a pretty good general description. But you may not know what’s involved in implementing a marketing automation solution or whether it’s something you should consider.
Many companies are actively involved in developing a marketing plan for next year. Or, at the very least, they are thinking about the topic. As they engage in the process, it is essential for marketing professionals to gather meaningful information and tap into the collective brainpower of their team members to evaluate the best opportunities for growth. To determine the best course of action, here are 13 questions every company needs to address.
Catawampus sounds like an adjective from another generation, right? Maybe, but its meaning and significance are not. Nor is its occurrence. In this context, catawampus describes an environment or situation in which marketing goals, culture and initiatives are misaligned or off-center. How can you tell whether your company is operating in this mode? It’s easy.
How long have companies been cutting their marketing budgets? How long have they underfunded their marketing programs or reduced the size of their marketing departments? The simple answer is: far too long. Consultants, researchers and associations have been bemoaning this fact for years, and it’s no surprise. Whenever there is an economic downturn, and the resulting fear of the future, companies pull in the reigns.
It’s long been said that one marketing outreach or one touch point does not a campaign make. That’s a no-brainer. In the past, traditional marketing approaches such as direct mail and advertising represented the bulk of a company’s marketing budget. However, they were often carried out independent of one another. That was known as end-to-end marketing. Today, more companies recognize the need to integrate their outreach initiatives and take advantage of all the opportunities available.
For all the hoopla and buzz created by Facebook, Twitter, YouTube and other social media channels, one has to ask, “Do these outlets really generate business for B2B companies?” While it might be fun to read posts and watch videos, are these the channels that generate the greatest amount of business? Not according to researchers.
Every company faces the same challenge of how best to manage their marketing resources (time, money and personnel). Consequently, management has to evaluate short- and long-term opportunities. Furthermore, they also need to seek out those that will yield the greatest return on investment now and in the future. To help you identify and capitalize on
