Editor's Note: Take a look at our featured best practice, Marketing Plan Development Framework (63-slide PowerPoint presentation). A marketing plan is a comprehensive blueprint, outlining an organization's overall marketing efforts. This PowerPoint presentation is a guide to developing a comprehensive marketing plan.
Marketing Management topics include:
Marketing Management Process
Market Segmentation
Market [read more]
Also, if you are interested in becoming an expert on Strategy Development, take a look at Flevy's Strategy Development Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.
* * * *
If you haven’t been marketing your business, you’re missing out on a great opportunity for growing your business, increasing sales and engaging your customers. So much of what goes on in your business depends on having an effective marketing strategy that you’d be mad not to give it the focus of your attention. Here are six reasons why it’s important for every modern business.
It Sells Your Products or Services
The main aim of your business is, of course, going to be making money, and to reach that goal, you have to use marketing. If it weren’t for marketing far fewer businesses would exist because at the end of the day it’s what drives sales. There’s no denying that having a good product or service is important. However, if you don’t let people know all about it and how they can get it you’re not going to generate very many sales. Marketing aims to attract people’s attention and persuade them to make a purchase.
There are so many ways you can market your business that there’s bound to be a strategy to suit you. Depending on your target audience you could use content or video marketing, mobile marketing, digital marketing, inbound or outbound marketing. Network marketing is another area worth exploring, and you can find out more by visiting tonivans.com.
It Engages Your Customers 24/7
The modern consumer likes to feel important, and while face-to-face interactions used to make up a large part of consumer engagement, it’s not enough anymore. With the help of marketing and a strategy that provides them with content, you can keep them engaged long after your store has closed and after they’ve made a purchase. It’s all about creating an effective relationship with your customers and marketing is one of the best ways to do it.
It Maintains a Healthy Relationship with Your Customers
For a business to flourish, it needs to maintain a healthy relationship with its customers. You want your customers to stick around and continue to do business with you. Marketing isn’t meant to be a onetime fix. It’s meant to be something you work on constantly and use to keep your customers informed and engaged.
It Helps Even the Playing Field
The world of business is a very competitive one and filled with companies both big and small. Thanks to marketing and the fact that it doesn’t have to be expensive, small and medium-sized companies can compete on an even playing field with the big boys. It’s even possible for marketing to give the smaller business a bit of an advantage because they’re able to direct their attention to individual clients and improve the customer experience.
It Educates Your Customers
As well as using marketing to sell, you can also use it to keep your customers informed and increase their knowledge. It allows you to give your customers more information than ever before and help them understand what your product does and how it works. Do it in a fun and interesting way, and you’re increasing customer engagement and adding value to their experience.
It Helps Grow Your Business
If you want to ensure the growth of your business, you have to embrace marketing and use it to your advantage. It’s a way of securing the future of your business by engaging both new and old customers.
71-page Word document
This 71-page template is a comprehensive template for a Strategic Marketing and Sales Plan. It is based on the Systems Thinking Approach, and guides the development of the strategic marketing and sales plan in the context of the bigger picture corporate strategies. Using this template will allow
[read more]
Want to Achieve Excellence in Strategy Development?
Gain the knowledge and develop the expertise to become an expert in Strategy Development. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. Click here for full details.
"Strategy without Tactics is the slowest route to victory. Tactics without Strategy is the noise before defeat." - Sun Tzu
For effective Strategy Development and Strategic Planning, we must master both Strategy and Tactics. Our frameworks cover all phases of Strategy, from Strategy Design and Formulation to Strategy Deployment and Execution; as well as all levels of Strategy, from Corporate Strategy to Business Strategy to "Tactical" Strategy. Many of these methodologies are authored by global strategy consulting firms and have been successfully implemented at their Fortune 100 client organizations.
These frameworks include Porter's Five Forces, BCG Growth-Share Matrix, Greiner's Growth Model, Capabilities-driven Strategy (CDS), Business Model Innovation (BMI), Value Chain Analysis (VCA), Endgame Niche Strategies, Value Patterns, Integrated Strategy Model for Value Creation, Scenario Planning, to name a few.
Learn about our Strategy Development Best Practice Frameworks here.
Readers of This Article Are Interested in These Resources
98-slide PowerPoint presentation
Growth can be achieved through corporate marketing (i.e. organic growth) or M&A (i.e. inorganic growth). The traditional approach to growth focuses on product differentiation and then marketing this differentiation. However, research and experience has shown, the differentiated, superior
[read more]
Excel workbook
From a high-level, the goal of a marketing strategy is to identify a target market and develop a marketing mix that will appeal to those potential customers. Decisions regarding the ideal marketing mix can be organized in terms of Price, Promotion, Product, and Price. However, the goal is not to
[read more]
722-slide PowerPoint presentation
Curated by McKinsey-trained Executives
Introducing the Ultimate Marketing and Sales Standard Operating Procedures (SOP) Toolkit--Your Comprehensive Guide to Streamlining Success.
Unlock unparalleled efficiency and success in your marketing and sales operations with our comprehensive
[read more]
160-slide PowerPoint presentation
This is a PowerPoint deck on how to conduct effective Strategic Marketing and Sales Planning. It is based on the Systems Thinking Approach, one of the most comprehensive and holistic approaches in the market to strategic planning in all areas. The purpose of this presentation are:
1. To gain a
[read more]