Does Marketing Work?   

If so, what marketing strategies and tactics work most effectively?

What results can a business expect from marketing and how can those results be measured?

When best practices are applied, marketing does have a significant financial impact on the bottom line of a business. Further, the most effective marketing companies are able to generate results that are 2 to 3 times better than the average company. Results can be tracked via an increase in the number of leads generated from new customers, an increase in the frequency of selling opportunities to existing customers, and an overall increase in the revenue a company creates.

Taken together as a discipline, it is clear from research that marketing serves the purpose of creating opportunities for companies to sell to customers. But while marketing in general is clearly an asset to a company, it is in the details of effective execution that marketing can become a differentiator that makes one company more successful than another. 

There is tremendous pressure in today's business environment to determine a specific relationship between each marketing activity and its impact on the ultimate profitability of the business.
Finding # 1   
 Finding #1: Marketing Works - If You Apply Proven Best Practices
  • Marketing must be Customer-focused
    • Talk about the benefits the customer will receive
    • Use language the customer is familiar with
    • Position your product as the tool you'll use to solve their problem, not the focus
    • Help the customer envision themselves using your product and enjoying the benefit 
  • Marketing must be Measurable
    • Quantitative measurements
    • Qualitative measurements
    • Strategic measurements
    • Financial measurements
  • Marketing must be Targeted and Segmented
    • Profile your existing base of successful customers
    • Determine the makeup of an ideal customer for your business
    • Use media that can be specifically targeted to a precise audience
    • Disqualify non-customers as quickly as possible
  • Marketing must be Repeated
    • Average customer needs to hear a message 8 times before it registers
    • Average solution provider must contact a prospect 5 times before getting initial response
    • The more complex and expensive the solution, the more repetition it takes to persuade
    • Leverage multiple tactics to accelerate the repetition
  • Marketing must be Integrated
    • Tell one version of your story to each customer, every time
    • Every outbound message to each audience must reinforce a consistent theme
    • Every touch point in your business needs to reinforce your central message
    • Multiple tactics accelerate the rate of retention for your customer messages
Finding # 2    
Finding #2: You Can Accelerate Your Results By Focusing On Customer Priorities
  • Specific Knowledge of the Customer's Business Yields More Effective Marketing Opportunities
    • Knowledge about the processes and functions the customer uses to run the business
    • Knowledge about the customer's industry segment and competition
    • Knowledge about the customer's customer and points of leverage
    • Knowledge about the financial structure of the customer's business
  • Focus on High Priority Solutions Yields More Urgent Alignment with Customer Decision Makers
    • Understand the solutions with the most significant financial possibility for the customer
    • Determine what solutions are highest on the customer's priority list
    • Track the solutions being deployed by your customer's competitors
    • Pay attention to the political structure of the customer's organization
Finding # 3    
Finding #3: You Can Further Accelerate Your Results Through Advanced Strategies
  • Build Partnerships for Improved Credibility and Accelerated Market Awareness
    • Team up with more established partners whose brand will add credibility to yours
    • Share the cost of marketing to a common audience
    • Work with companies that sell complementary technologies
  • Market Total Integrated Solutions instead of Single Point Products
    • Multiple products to address more than one dimension of tactical requirement
    • Address the business process to be affected rather than the tools you'll use
    • Focus on the benefit outcomes rather than the tactical inputs
  • Effective Marketing Campaigns and Tactics Make an Offer and Ask for a Direct Response
    • Every contact should communicate a specific call-to-action for the customer
    • Each call to action should be consistently executed across integrated marketing tactics
    • Use convenient response mechanisms
    • Customize response devices to improve measurability
    • No brand advertising, but brand all advertising
  • Successful Marketing Campaigns Use Attractive Incentives and Promotions
    • Appropriate gifts and enticements to use before the transaction
    • The danger of giving away what you hope to sell later
    • The role of contests and participation events
    • Determine what the customer really wants
  • The Most Successful Marketing Companies Actively Manufacture Customer Referrals
    • Referrals cited as the single most effective marketing technique … but few companies actively seek referrals or know how to create them
    • Ask for referrals from every customer
    • When to ask … how to ask
    • How to get referrals without asking
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