YOUR COUNTY.
YOUR BUSINESS JOURNAL.
 









Published October 2003

Here’s a 12-step program for marketers in denial

It seems like there’s a 12-step program to deal with every conceivable ill. Following is a staircase for marketers suffering from loss of vision.

Before we go any further, you’ve got to admit you have a problem. Hi, my name is Andrew, and I’m a myopic marketer — that wasn’t so hard.

Let’s face it, we all have marketing problems — some of us are more in touch with our inner pain than others and willing to make amends. Like other 12-step programs, this one should be adopted in order.

Step 1: Develop and document a mission statement that defines who you are, what you do and whom you serve. Keep it short, simple and customer-oriented. Remember that the purpose of business is not to create a product — it’s to create a customer.

Step 2: Perform a situation analysis to uncover internal (strength and weakness) and external (opportunity and threat) factors you can capitalize on or defend against. Prioritize your list, focusing on a few situations that have the greatest potential impact.

Step 3: Conduct market research to reveal consumer values and competitor vulnerabilities. Survey your best customers and shop key competitors for insight on how to best position and promote your brand.

Step 4: Do a product evaluation and look for areas of potential enhancement and advantage exposed by your market research. A competitive advantage results from a “distinction” based on consumer “values.”

Step 5: Go through the same process as in Step 4 to assess your customer service. How do you measure up against top competitors — from the customers’ point of view?

Step 6: Analyze your marketing infrastructure (finance, supply chain, facility, technology and human resources) to assure you can grow and continue to deliver as promised. On average, happy customers share their experience with three people, unhappy ones spew to seven.

Step 7: Profile your target markets to determine the most responsive, profitable and stable segment. Your goal should be to satisfy a niche instead of filling a gorge.

Step 8: Establish specific, measurable and realistic marketing objectives. Make sure they are quantified, dated and assigned for accountability.

Step 9: Discern the best marketing strategies to achieve your objectives. Be sure to align your positioning (image, pricing, packaging and distribution) to the appropriate promotional mix.

Step 10: Put your strategies in motion by itemizing marketing tactics and determine who will do what by when. Involve those responsible for execution in the planning process.

Step 11: Before executing your tactics, put a tracking system in place to measure results gained against resources expended.

Step 12: As you track performance, continually make adjustments to increase your return on investment. Marketing is a dynamic discipline.

After you’ve gone through each of the 12 steps, and documented outcomes and activities, you’ll have a strategic marketing plan. Use it as a management tool to implement and monitor all marketing activities.

This 12-stepper works whether you’ve hit rock bottom or are rolling to the top. But keep it anonymous; no need for the competition to know you’re in a “program.”

Andrew Ballard, President of Marketing Solutions Inc. in Edmonds, develops brand leadership strategies for businesses and teaches strategic marketing through Edmonds Community College. He can be reached at 425-672-7218 or by e-mail to andrew@mktg-solutions.net.

Back to the top/October 2003 Main Menu

 

© The Daily Herald Co., Everett, WA