Business over Breakfast is a business networking club that meets each fortnight at the NAB Village. The aim of the group is to exchange knowledge to promote a collegial business atmosphere.
Each session involves a formalised presentation, and this morning I was invited to provide a presentation on marketing and the approach undertaken by Syneka Marketing. Ultimately marketing needs to be redefined. The term has become known for tactics, rather than the strategies that lead to ongoing business success. As a result, many businesses spend money on activities that generate little or no return.
Success starts with strategy, through a marketing plan that considers how to achieve the goals that were identified in a business plan. Understanding the market context, enables you to make informed decisions on how to respond to customer needs, competitive pressures and industry trends. Importantly, this enables you to have a value proposition that connects your strengths with the needs of your target markets.
Having this context and planning strategies based on these insights lets you allocate marketing resources effectively, providing financial savings while delivering outcomes that create a positive impact on your business.