marketSMARTS

Marketing is like a game of chess. Move 1 piece and you have to think about the effect on all the other pieces.No matter your definition of marketing or what the theory says, its essentially the means by which you identify, engage and satisfy clients . . . whilst ensuring a healthy turnover for your business.

 

Many marketing plans fail because they are filled with boring statements of intent, wish lists and theory that has no “real world” logic. Your marketing plan is like a travel plan that takes you on a journey to reach a pre-determined destination. Treat it like an exciting journey and you can have a lot of fun with it.

 

AND . . . don’t leave it in a cupboard to gather dust! It needs to be a working document that is constantly referred to, flexible to change, and measurable.

 

Customers will only exchange what they value (money) if they feel their needs are being satisfied at a price they are willing to pay

 

Successful SMART marketing requires a number of factors working together

Whatever Assessment or Review we conduct with  your business we always consider certain key areas that are critical to business health so that you can formulate a 90 Day Plan and keep your fingers on the pulse. No plan is cast in cement, and like humans need to change over time to respond to marketplace changes.

 

Your S.M.A.R.T Plan

 

Specific – have you got clear objectives with goals that articulate the destination, how you are going to get there and what you need for the journey?

 

Measurable – can you measure progress, identify when you’re going off track and put in place a back up plan to reach your destination or change to a new one?

 

Achievable – are your objectives achievable and attainable so that you don’t give up?

 

Realistic – is your plan realistic with the resources you have?

 

Time – are your goals time linked and have you allowed reasonable time for un-forseen contingencies?

 

Challenge your Strategy and Thinking

 

assess the feasibility of the idea as to market potential

review an existing concept or strategy to re-energise your marketing

crunch the numbers to ensure your business has covered all the bases financially

 

Marketplace Factors

 

trends, market drivers, demand & barriers to entry

 

what market factors pose the best opportunity or threat for your business idea

 

PESTE factor variables which are outside your control but require a response plan

 

what customers need and want, and know what motivates them to purchase

 

key resistance factors for your product or service and formulate a sales response

 

customer buying behaviour characteristics to develop a targeted communication approach

 

competitor performance & market gaps where they are NOT meeting customer expectations

 

aspects of your product or service that CAN meet customer expectations

 

client engagement techniques that best engage with your target market

 

Internal Business Assessment

 

Peoples’  perceptions are also their reality, and becomes an important factor by which your clients will make the decision to engage with you, or purchase your services. A perception analysis will identify the gap between the different points of view, will give you a more realistic truth by which to align your business goals with marketplace communication. The Business Gap Assessment measures perceptions about your business performance, rather than ACTUAL performance, and can be used to determine:

 

perceptions between staff and management

what your clients think about your business

where your competitors stack up against you in the eyes of your clients

 

High level Strategy Formulation should include the following elements . . .

 

marketplace response

competitor response

sales targetting

identify & manage the key events of the sales cycle

marketing communication – external and internal

client engagement

product & service pricing

channels to market

choosing partners & alliances

 

Tactical planning linked to objectives

 

Marketing plans should be formulated first with a high level strategy to provide you with a roadmap and direction, and then with a tactical plan with objectives, goals and measurable tactics in order to:

 

gain staff buy in

identify skills & match job roles to company goals

keep the plan on track or change direction when necessary

match systems, process & resources to your marketing and sales goals

 

Performance & Effectiveness Measurement can be achieved through . . .

 

online polls

customer surveys

feedback mechanisms