How to maximize your impact in the market, ensure sustainability and ROI
In the current volatile and competitive business environment, it is becoming more and more important for business people to make very relevant and strategic decisions that enable them to remain in business.
Businesses of today are increasingly exposed to a high level of rivalry amongst competing brands of all sizes and shapes, increasing threats of new entrants and substitute products into their markets on daily bases, escalating high levels of bargaining powers of customers and suppliers among other economic, technological, ecological and human resource challenges
It is the fact that small businesses stand to suffer most when there’s turbulence, and it always becomes an issue of the survival of the fitters, where business with bigger financial muscles and economies of scale takes all there is to take.
Nevertheless, it is very imperative at these times for small and medium enterprises to master the art of strategic decision making in order to ensure they create value for customers, create return on investment for their shareholders whiles remaining sustainable and competitive.
Unfortunately however, the reality is that there are far too many organisations that simply play at marketing. If senior management doesn’t understand what marketing is and what it involves, the chances of being successful quickly decline. Winners understand that marketing has to be led from the top. Without this commitment, you are wasting your time. Although this is a little bit like the chicken and the egg, the reality is that as I suggest above, good marketing demands expertise. All too often, though, managers talk about it, but they don’t understand it. It is good to always remember that marketing, like many other areas of business, is a specialism and unless you have the expertise, you aren’t likely to succeed. Given this, it is important to invest in developing marketing expertise amongst your staff and learn from others.
My presentation will focus on how SMEs and startups operating with shoe string budgets, can take a second look at their strategic marketing decision making processes, responsibilities and marketing performance metrics, (balance scorecard) in the bid to maximize their impact, ensure business sustainability and Return on capital employed.
Delegates will go away with a better understanding of;
•The basic principles of marketing as they apply to small budget organisations
•The importance and the process of undertaking a marketing audit to ensure effective, result oriented marketing decision making.
•The concept of branding, carving a niche, a unique differentiator and competitive edge.
•A case of recognising the constraints and then trying to be sharper, faster, more focused and more creative than your competitors
•Finding answers to three of the most straightforward marketing questions ever devised.
The McKinsey 7S Framework: A Holistic Approach to Harmonizing All Parts of th...
Marketing On A Shoe String Budget.
1.
2.
3. The
Economies
of Unscale
THIS IS THE TIME.
The tide is turning. A series of breakthrough
technologies and new business models are destroying the
old rule that bigger is better.
By exploiting the vast (but cheap) audience afforded by the
Internet, and taking advantage of a host of modular
services, small becomes the new big.
The global business environment is decomposing into
smaller yet more profitable markets, so businesses can no
longer rely on scaling up to compete, but must instead
embrace a new economies of unscale.
4.
5.
6.
7. Our Conversation Today
Marketing and Branding on a shoe string Budget.
How to maximize your impact in the market, ensure sustainability and ROI
The basic principles of marketing as they apply to small budget
organisations
The importance and the process of undertaking a marketing audit to
ensure effective, result oriented marketing decision making.
The concept of branding, carving a niche, a unique differentiator and
competitive edge.
A case of recognising the constraints and then trying to be sharper, faster,
more focused and more creative than your competitors
And some Lessons from the winners (and the losers) in the days of
volatility.
8. Our task
Find answers to the most straight forward marketing questions ever devised:
Why should any one bother dealing with us?
What are we capable of offering that will be of interest?
How does it differ from what everyone else is doing?
How do we generate value for the shareholder?
And that gives us the definition for marketing.
‘The management process that identifies, anticipates and
satisfies customer requirements PROFITABLY’
The Chartered Institute of Marketing
Marketing = Value creation (customer/ shareholder/ means to competition)
10. our biggest challenges are often quite different from
what we think our biggest challenges are.
Doing the opposite has always been a smart strategy for
breakthrough.
Go Opposite
To See Invisible
Opportunities
Make a list of everything your competitors are doing. Look at
each item on the list
ask yourself, “How can I gain an advantage by doing the
opposite?”
11. Implications for marketing
Who are our existing / potential customers?
What are their current / future needs?
How can we satisfy these needs?
Can we offer a product/ service that the customer would value?
Can we communicate with our customers?
Can we deliver a competitive product or service?
Why should customers buy from us?
How do we remain in business?
12. AVOID MARKETING
MYOPIA.
(management’s failure to
recognise the scope of its
business)
Define your organizational
goals oriented towards
consumer needs, making you
stand out in highly competitive
environments.
APIC.
ANALYSIS
PLANING
IMPLEMENTATION
CONTROL
13. Are you
practicing a
WANA BE/
Surface/
Cosmetic
marketing
or A Real
Holistic Result
Oriented
Marketing?
TOP DOWN
15. Stop
Competing –
Start Winning
By Innovating
Contrary to popular belief, competing with other
individuals or companies is counterproductive.
From a business perspective, focusing on your competition
instead of focusing on continuous innovation by creating
new, must have products, and services, will over time
result in you looking and acting more like your
competitors, not to mention fighting an escalating battle
over shrinking margins.
So even when you’re in the lead, eventually someone else
will copy what you are doing, which makes you compete
with them even more. Unfortunately, the majority of
companies are so focused on competing that they’re
locked in a losing battle – a vicious cycle of oneupmanship.
16. Quality is what customers say it is.
QUALITY: WHEN CUSTOMER EXPECTATION MEETS HIS PERCEPTION.
SERVICE QUALITY Close the Service quality Gaps.
To Improve service quality
AND TOTAL
1. Actual customer expectation and management perception of
QUALITY
customer perception
MANAGEMENT
2.Management perception of customer expectation and service quality
specifications
3. Service quality specification and the actual service delivered
4. Service delivery and what is communicated about the service to
customers
5.Customer expectations and perceptions of what is actually received.
This gap is influenced by the first four.
Use BENCH MARKING to close the gaps.
17. CRM
Build Quality,
Sustainable,
Beneficial
Relationships
The Shift from
Transaction based
marketing to
Relationship
Marketing
mass marketing
Aimed at individuals
= External and internal relationships
=
=
=
=
=
=
=
Accountability of managers
Projects an image and style
Ethical responsibilities towards consumers
Social responsibility
Dishonest marketing and promotion
The abuse of power
The availability of information
18. Today, embracing
change is no longer enough; we need to
transform.
Its good everyone has been touting the phrase
“think outside the box”
Transform
The problem isn’t that we
or Perish
need new ways to simply step outside the
box—we need to completely transform the
box itself.
In fact, whatever your box is—your job,
company, career, situation—it is going to
transform whether you like it or not.
19. Some 10 “Early Bird” take away Tips
Customers can not tell you what they need. ( if u wana change the world)
Just plant the seed. Believe and U will See (Believe, begin, become)
Start with solving little problems and hope many people have that little problem
Don’t wait till its all perfect. (take it to market, promote and improve on it)
Design counts (Even when customers talk about price)
Value is different from price ( it can be cheaper elsewhere but create value
(be unique and don’t compete on price)
Today, You need to jump curves to be successful (not 10% better but ten
times better) be remarkable if you wana change the world.
Hire A+ Players if you are an A player. (be proud to say my marketing guy is a
genius or I have a rock star team)
Don’t stuck with or worship a religion.
Real CEOs can PITCH/DEMO/ SELL.
21. Today, your organization must innovate to
be successful. Innovation comes from
creativity and creativity derives from
diversity. And when we think about
diversity, we focus on the unique
ingredient each employee can contribute
to the organization’s objectives.
In the new world of
work, it’s not about getting the most
from each employee, it’s about getting
the best.
22. Successful supper Brands drive passion
excitement and loyalty and that accounts
for the gains they make. Think about why
you are so excited and passionate about
that football club, that product and that
celebrity. BRANDS ARE NOT JUST LOGOS,
NAMES AND SOME TAGLINE, PUT
EMOTIONS IN YOUR BRAND.
23.
24. People Are
The Brand.
What matters most in
business is people.
Without committed
employees, loyal
customers and hardworking partners, you
really don’t have
much.
25. Lesson 1
Lesson 2:
Lesson 3:
Lesson 4:
Lesson 5:
Lesson 6:
Lesson 7:
Some
lessons from
the small
budget
winners.
Lesson 8:
Lesson 9:
Lesson 10:
Lesson 11:
Lesson 12:
Lesson 13:
Lesson 14:
Lesson 15
26. In Conclusion, always ask
your self these three key
questions.
How is my offer
different from the
competition?
What value am I
creating for the
customer?
Will this create and
continue to create
more value for the
shareholder? ROI