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The Impact of our Marketing Audit

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

Syneka’s Marketing Audit can strengthen your return on marketing through our accredited Marketing Governance Framework.

A large education provider in Victoria commissioned Syneka Marketing to review its marketing activities. The Marketing Audit identified gaps in marketing processes and strategy, as well as determining improvements to marketing processes to optimise results.

Our Marketing Audit is based on the premise of reviewing existing capabilities, with the delivery of recommendations to strengthen marketing capacity.

Our methodology is developed through a three phased approach:

We identified that the education provider’s marketing collateral did not fully align with the overall customer and stakeholder journey. There was also a need to redefine the customer experience to include key influencers. The marketing team lacked the strategic direction to align itself with the values of the organisation.

The Marketing Audit recommendations provided insights into the purchase decision, allowing the organisation to consider how it could strengthen the number of enrolments for each education program,  as well as improving the capacity of the existing marketing team.

Syneka’s Marketing Audit delivered measured results that have generated a positive return on marketing investment.

To secure your consultation to discuss the role of a Marketing Audit for your organisation, book online here or contact us on 1300 965 989

National Disability Insurance Scheme (NDIS) Report of Findings

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

Today we hosted our National Disability Insurance Scheme (NDIS) Industry Roundtable providing a forum for NDIS providers to explore the challenges and opportunities in becoming market-ready under the NDIS.

We have worked extensively with disability service providers and equipment suppliers in developing the marketing capability and capacity required for the market driven environment of the NDIS.

Alex presenting to attendees at the NDIS Report of Findings Roundtable

Attendees gained an understanding of the current NDIS context, the state of marketing within the NDIS and the elements required for a successful market readiness strategy. In particular there, is a need to utilise marketing governance to instil to successfully differentiate within a competitive market context.

The NDIS is an extremely competitive market, due to the high level of participant choice and potential possibilities that exist within specified NDIS supports. In a highly competitive market, price and brand are the main levers used to influence demand. Given that pricing controls currently exist within the NDIS, the only potential option for providers is to successfully differentiate through their brand. Building brand equity requires a strategic approach to marketing, with the ability to measure and strengthen awareness, attitudes and loyalty.

Marketing Governance provides the framework for NDIS providers to respond to the changing market conditions through the NDIS, through the strategic alignment between business and marketing outcomes, as well as the management of risk. Success within the NDIS requires marketing roles to be clearly defined so there is an understanding of how to measure marketing performance, as well as allocating the resources required to build and sustain market demand. Ultimately, this instils an outcomes based approach to marketing, with the ability measure marketing inputs and outputs across the chain of marketing activities.

Marketing Governance ensures the building of brand equity, by aligning strategic direction, understanding brand risks and by measuring and strengthening awareness, attitudes and loyalty.
The roundtable coincided with the launch of our NDIS Report: Challenges, Solutions and Market Readiness. Our research explores over 1000 National Disability Insurance Scheme (NDIS) registered providers to determine the level of market readiness as the NDIS continues to roll out across Australia.

Through this report, we identify the key challenges facing NDIS providers and the opportunities that exist in strengthening marketing capability and capacity as well as maximising their impact in an NDIS environment.

To download your copy of our report NDIS: Challenges, Solutions and Market Readiness, please visit www.synekamarketing.com.au/ndisreport

Attendees at the NDIS Report of Findings Roundtable

The Building Blocks for Effective China Business: ACBC Perth Workshop

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The Australia China Business Council (ACBC) is the peak business association for developing business and trade between Australia and China. The organisation has state-based branches operating across Australia to facilitate trade and business opportunities between the two countries.

This morning I was invited to deliver a workshop for the Perth Branch of the Australia China Business Council, where we discussed the marketing foundations required for Australian businesses to establish and develop a market presence in China. As a market, China is rapidly increasing in sophistication, meaning Australian businesses need to be strategic in how they enter China and build market demand.

Australian businesses need to adopt a good governance approach to marketing to instil the strategic rigour required to develop China as a potential market. Businesses need to manage potential risks by quantifying target markets, understanding purchase decisions and competitor intensity. Marketing roles need concise position descriptions to ensure there is suitable capability to develop new markets and opportunities. China’s population of 1.4 billion is significantly larger than Australia but requires segmenting and defining to build suitable target markets engaged through multifaceted marketing campaigns.

Developing new markets requires resources to build market potential. Marketing Governance embeds an understanding of the budgetary resources needed to develop new markets, as well as forecasting the potential return on investment. Australian businesses need to be aware of these factors to determine the potential results when entering China.

Understanding marketing metrics is imperative when entering a new market. Building awareness is the first stage in creating potential demand. Awareness activities consist of several marketing tactics that to build brand preference and purchase intent. The inputs that build brand awareness need to correlate to the output of purchase preference leading to outcomes in customer acquisition and potential re-purchase behaviour. Understanding the chain of activities required to build a customer base is essential to being able to measure progress and market penetration.

China is rapidly growing in sophistication and Australian businesses need to build their marketing capability and capacity to realise the market potential that exists across China.

Aged and Healthcare Industry Roundtable

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The Aged and Healthcare Industry is experiencing rapid upheaval; demand drivers are changing through the introduction of demand-driven models of consumer-directed care, while government regulation is leading to increasing compliance costs.

Syneka Marketing, in partnership with next level consulting, delivered our industry roundtable exploring these challenges and the factors required to embed a market facing culture within aged and healthcare organisations.

The workshop guided participants through the five stages of market capacity, beginning with compliance requirements, into the building of organisational capability and maintaining visibility across business operations.

Developing these core capabilities enhances profitability within an increasingly competitive market environment.

There is a need for aged care providers to embed marketing metrics to effectively measure brand equity, given the low levels of differentiation that exist within the sector. Embedding marketing metrics, with the ability to measure the chain of marketing activities enables organisations to have a greater degree of clarity and alignment with their vision and purpose.

Building capability and capacity in the aged care sector will help providers to embed a market facing culture that can measure the return from marketing investment.

 

Marketing as the catalyst for Business Transformation

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

Changes in market conditions, including new competitive pressures, declining market share or market obsolesce, is often the catalyst for business transformation, yet it is staggering that marketing is often absent during the transformative process.

Unfortunately, marketing is often relegated to the execution of tactics, diminishing the research and strategic insights required to optimise new market opportunities.

How can an organisation become market facing without marketing being at the forefront of these considerations?

Marketing Governance provides the framework to embed marketing within business transformation, delivering results that optimise and build marketing performance.

The Australian Transformation and Turnaround Association (AusTTA) is the professional association that represent business transformation specialists.

We are presenting at the next AusTTA event to discuss How to lead a total Business Transformation through an obsession with customer centricity – now and in the future

Our exploration of customer centricity will explore case studies within one of Melbourne’s leading art institutions, showcasing the role of business transformation across the arts, not-for-profit service delivery and business enterprises.

The session will be held on Wednesday the 4th of October from 6.30pm at Palya Art Gallery in South Melbourne. Register online at www.austta.org/event-2661163

Redefining Marketing through Business Victoria

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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.