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Marketing Governance in a Family Business: Workshop with Family Business Australia

By | Advice, Advice for Businesses | No Comments

Family Business Australia is the peak industry association representing the diversity within family owned businesses. The association delivers services to family businesses but also builds the capacity of organisations that service the sector.

We were invited to deliver our Workshop on Marketing Governance to family business advisors, exploring the dynamics and role of marketing within a family business. Family businesses require not only sustainable growth, but also the ability to provide support succession planning for their children and future generations.

Alex with PKF Australia and Family Business Australia discussing Marketing Governance.

Alex with PKF Australia and Family Business Australia discussing Marketing Governance.

Marketing is often an entry point for parents seeking to position their children into roles, and as such, it is imperative that the business embed good governance to support these requirements. Marketing is more than just promotions; it needs to ensure consistency across the marketing mix or customer experience, enabling marketing to support growth through customer acquisition and retention.

Our workshop on Marketing Governance explored how family business advisors could identify key issues within marketing and the need to provide support that will strengthen internal capabilities and capacity.

The viability and sustainability of the family business sector are vital to both economic and social growth, and we, therefore, need to provide the resources that enable family businesses to make informed marketing decisions that contribute to tangible business outcomes.

The Montague Street Bridge: a tale of how marketing fails to understand risk

By | Advice, Advice for Businesses, Advice for Not-for-profit Organisations and Charities | No Comments

Nestled in Montague Street, South Melbourne, approximately ten minutes from our office, is a low clearance bridge of three-metre height. The Montague Street Bridge entered notoriety on the 22nd of February 2016, when a charter bus failed to observe clearance signs and slammed into the bridge.

The driver failed to consider risk, but how did the company respond? Tape, to hide the brand, but clearly not to resolve the issue.

“We are out to protect our brand and make sure we don’t tarnish our brand, it doesn’t mean any disrespect.” (Gold Bus Ballarat)

Hiding rather than avoiding Risk (Photograph: Hamish Blair)

Had Gold Bus Ballarat viewed this action from a viewpoint of risk, they would have realised the consequences of the resulting scrutiny. Unfortunately, marketing often fails to assess risk factors, resulting in an extensive list of campaigns that have caused reputational damage, as well as financial loss:

This year has proven to be no different:

  • In March, Coopers failed to assess sponsorship risks when it was forced into a public apology when the Bible Society used its beers to film a poorly scripted debate on marriage equity.

On behalf of the Coopers Board and seniors staff, we’re incredibly saddened by the impact our involvement with the Bible Society has had on our valued Coopers drinkers and our extended family,” (Coopers Brewery)

  • A month later, Pepsi blew an estimated $100 million, plus a history of corporate social inclusion, due to its doomed campaign featuring Kendall Jenner and the trivialisation of social justice movements.

Each of these campaigns (and many others) would have never seen production, let alone public viewing, had there been suitable oversight and consideration of risks.  Despite these reputational, legislative and financial failures, history is likely to repeat itself with more examples likely to join this list.

Just like the Montague Street in South Melbourne, which has been hit at least six times so far in 2017.

History repeating itself: When Marketing (or road users) fail to consider risk

How do we prevent history repeating? We need to elevate marketing into the domain of governance, so that risk, as well as oversight, is embedded into decision making.

Join us as we explore Brand, Reputation and Risk: Managing Marketing Governance in partnership with the Governance Institute of Australia on Wednesday the 26th of July 2017 in Melbourne.

Registration details available at www.governanceinstitute.com.au/education-training/calendar-of-events/eventdetails/E00693/brand-and-reputation-marketing-governance

Workshop: Brand, Reputation and Risk: Managing Marketing Governance in Partnership with the Governance Institute of Australia

By | Advice, Advice for Businesses, Advice for Not-for-profit Organisations and Charities, News | No Comments

We are pleased to announce our workshop: Brand, Reputation and Risk: Managing Marketing Governance in partnership with the Governance Institute of Australia.

Marketing governance reinforces good governance by ensuring your marketing performs a strategic role, fulfilling its purpose of delivering value to your organisation and your customers. This workshop will utilise the Syneka Marketing Governance Framework to align marketing with good governance.

Topics include:

  • The role of governance within a marketing context
  • Assessing risk within marketing activities
  • Determining appropriate roles and responsibilities within marketing
  • Suitably allocating budgets and resources to marketing activities
  • Evaluating marketing performance across activity chains.

Attendees will learn how to apply the marketing governance framework within their organisation. Outcomes include the ability to evaluate marketing performance against organisational direction and the touchpoints required for their target stakeholders.

Register online through www.governanceinstitute.com.au/education-training/calendar-of-events/eventdetails/E00693/brand-and-reputation-marketing-governance

Revisiting the Sounds of Silence

By | Advice, Advice for Businesses, Advice for Not-for-profit Organisations and Charities, News | No Comments

Our six-month experiment where we were absence from content led to very interesting and positive feedback. Several as comments focused on how ‘brave’ we were in taking this risk.

“And the vision that was planted in my brain still remains within the sound of silence”

We undertook this experiment because we knew the result. We know what generates a return from our marketing activities based on our strategic direction and impact on client decision making.  Optimising marketing and understanding marketing metrics is not brave; it is common business sense as reflected through good marketing governance.

The Sounds of Silence: What marketing activities matter?

By | Advice, Advice for Businesses, Advice for Not-for-profit Organisations and Charities | 7 Comments

Since the start of 2017, we conducted an experiment: What would be the impact of a six-month absence from our social media, blog and eNewsletter?

Why did we do this? Content is the current marketing fad, with copious amounts of text, images and video produced in the vain attempt to be noticed. We thought it would be useful to undertake a live example to demonstrate our pursuit of marketing metrics that matter.

‘Hello darkness, my old friend, I’ve come to talk with you again.’

Content (and social media) more broadly is often an example of where marketers are often shouting into the darkness, creating activities to look busy, but with tenuous pathways towards tangible outcomes.

‘People talking without speaking, People hearing without listening’

Instead, content like any marketing tactic needs to be considered as part of a chain of activities:

  • The Input: ‘how much content have we published’
  • The Output: ‘Who has read/seen/viewed this content’ and are they aligned to our target market?
  • The Outcome: ‘Has this content led us closer to a purchase decision?’

Very rarely does one marketing tactic alone lead to a purchase decision. Furthermore, the user could be distinct to the purchaser or influencer, requiring the ability to engage and motivate multiple stakeholders.

Content that does not reach its audience, or is not part of the decision-making process, will not lead to a purchase intent.

Is your content aligned to the decision-making processes of your target stakeholders?

Does content have a role in marketing? It does, if there is an understanding of where it supports the journey from acquisition to commitment and through to retention. Treat social media with similar caution; it is extremely easy to spend resources on social or content and not generate a suitable return.

‘And the sign said, “The words of the prophets are written on the subway walls and tenement hall” and whispered in the sounds of silence

What impact have we had from a six-month absence from content? Nil, in terms of project commitment and deployment.

What role does content serve for us? Our marketing metrics highlight (and this experiment now verifies) that content is part of our broader stakeholder engagement. Our role for content is public relations through supporting our position on Marketing Governance.

Always understand your market before executing marketing tactics. How do you use content and what gaps exist? Complete our short two-minute questionnaire to find out.

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Redefining Marketing through Business Victoria

By | Advice, Advice for Businesses, Government, News, Resources | No Comments

Relevancy is a significant challenge facing the marketing profession. There are low barriers to entry, resulting in sources of contradictory advice, which causes confusion, as well as the potential for poor outcomes.

Business Victoria is the State Government’s Economic Development Department, responsible for supporting business growth. Business Month is held each August, culminating in the Small Business, Big Marketing Event held at the Melbourne Exhibition and Convention Centre.

The Australian Marketing Institute's marketing specialists: Alex and the team

The Australian Marketing Institute’s marketing specialists: Alex and the team

Even though this event is focused on marketing, it has historically lacked any involvement from the Australian Marketing Institute until this year.
The Victorian Advisory Committee of the Australian Marketing Institute worked in partnership with Business Victoria to embed Australia’s peak marketing association within Business Month and the Small Business Big Marketing Event.

Nine members of the Australian Marketing Institute were invited to provide half-hour marketing clinics to participants, with the aim of demonstrating the depth and breadth provided through qualified marketing advice.

The attendees at Small Business, Big Marketing

The attendees at Small Business, Big Marketing

The event attracted approximately 700 participants on the day, with approximately 50 attendees visiting the Australian Marketing Institute and arranging a session.

Business failure delivers an economic and social cost to Australia as a whole, as well as communities and individuals. Inadequate marketing and lack of strategic insight are the top ten contributors to business failure within Australia.

It is incumbent on the Australian Marketing Institute to define the profession so we can mitigate the prevalence of bad marketing advice, that not only has a cost to individuals but also our economic potential.