was successfully added to your cart.
Tag

budget Archives - Syneka Marketing

Setting the standard: Why accreditation matters for marketing

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

Imagine, one morning someone enters your office and tells you that they want 20% of your annual turnover because they have a ‘great idea’ to grow your business. They are unable to provide any evidence to support their claims, other than saying they have a ‘great idea’.

It goes without saying, but not many business owners or managers would contemplate making such a transaction.

Unfortunately, this is what marketing often looks like, with far too many decisions made on hunches or guesses, rather than a factual understanding of market needs, positioning and opportunities. As a consequence, marketing consulting and marketing services have a surprisingly low barrier of entry, with anyone able to claim they are a marketing consultant, expert, specialist or even ‘guru’.

Research into business exits often cites the lack of marketing insights as being one of the top ten causes of business failure. This is despite marketing spend often being between 10% and 20% of an annual budget.

The current approach provided by many who claim to provide ‘marketing’ is failing businesses and the wider community.

This is why accreditation matters for marketing, and is why we are so heavily involved with the Australian Marketing Institute (AMI). Accreditation has the potential to uplift the marketing profession and provide a benchmark for the delivery of marketing services.

No business would seek financial advice from someone that lacks appropriate accreditation, given the potential ramifications of bad advice. Yet we as professional marketers, have lost track of the amount of times we have been brought in to fix the mistakes made by pseudo-marketers. It is time to put an end to pseudo-marketers by recognising the definition of marketing (as defined by the Australian Marketing Institute):

Marketing creates value – for customers, shareholders and society as a whole. It does this by creating an alignment between what consumers value and what organisations offer. It offers techniques that help firms better understand the needs, preferences and perceptions of their customers (a prerequisite to adding value to them), and ways of using that understanding to focus the value-creating and communicating activities of the firm into areas where they will be most effective.

Marketing exists to build the capacity of your business so you can achieve your business goals. This is why one of the core marketing concepts is the marketing mix (commonly known as the customer experience):

A strategic marketing approach would have asked the right questions: focusing on all elements rather than just promotions

The marketing mix highlights the areas that marketing needs to consider to enable business growth

The marketing mix shows the impact of marketing across a business, yet pseudo-marketers, the self-proclaimed ‘experts’, ‘specialists’ or ‘gurus’ will often only focus on one or two elements. This leads to disparate tactics that will create inconsistent outcomes, ultimately resulting in reputation and operational risks.

The Certified Practising Marketer - as accredited by the Australian Marketing Institute

The Certified Practising Marketer – as accredited by the Australian Marketing Institute

The Certified Practising Marketer (CPM) designation is accredited by the Australian Marketing Institute and sets the standard for the marketing profession.

Certified Practising Marketer (CPM) accreditation assesses academic and professional experience to ensure that there is an understanding, as well as ability to apply marketing. Accreditation means a commitment to the Australian Marketing Institute’s Code of Conduct and the requirement of continuing professional development to ensure ongoing learning.

A Certified Practising Marketer (CPM) understands that marketing is more than disparate tactics. A Certified Practising Marketer (CPM) realises that marketing is the strategic alignment between business goals and marketing outcomes, resulting in a measurable and positive impact on business growth and innovation.

At Syneka Marketing we are proud of our ongoing involvement with the Australian Marketing Institute. Our founder, Alex Makin is the State Chair of the Australian Marketing Institute’s Victorian Advisory Committee and our leadership team maintains Certified Practising Marketer (CPM) accreditation.

Do not risk your business with pretenders that lack accreditation and industry recognition. Accreditation matters for marketing, just as it does for Accountants, Lawyers and Engineers.

Welcome to 2016 – The year we want to stop saying ‘we told you so’

By | Advice for Businesses | No Comments

Welcome to 2016! February is almost here and we have said hello to one of our busiest and most productive starts to the year.

Each year we set a narrative that guides the ongoing direction of Syneka Marketing. Our narrative is designed to be ambitious as we strive to re-define marketing into a measurable and accountable profession.

It is unfortunate that far too many businesses and not-for-profit organisations are fixated on tactics, rather than undertaking a strategic approach to marketing. In these situations, people become so fixated on a shiny bauble (the tactic that makes someone look busy but fails to have any depth) that they invariably run off, commit their budgets, only to run back to us when outcomes were not achieved.

A tactics led approach benefits no one. The client fails to gain traction and while execution based agencies may secure a sale, they often struggle to retain clients because the marketing mix was inconsistent and metrics were poorly defined.

This is why we want 2016 to be the year that we stop saying ‘we told you so’.

A strategic led approach leads to measurable marketing outcomes that deliver value to clients and the agencies that work with them. Our Syneka Marketing Performance Methodology , through the process of Audits, Forecasts and Strategic Marketing Plans, ensures a systematic, consistent, measurable and independent approach that delivers value and builds business capacity.

We continue to maintain our professional accreditation, with our leadership team being Certified Practising Marketers (CPMs) and being recognised through the Australian Marketing Institute’s Awards for Marketing Excellence.

We are working with execution based agencies to embed our strategic approach, ensuring that their tactics can be measured across marketing channels and throughout the decision making process. We are continuing our focus on education, with workshops and conference presentations to discuss the role of marketing, based on its core definition of delivering value and building business capacity.

We look forward to continuing this journey with you throughout the months ahead. Welcome to 2016 and may you achieve your business goals throughout this year.

Identify the resources required to deliver your marketing plan

By | Advice for Businesses, Advice for Not-for-profit Organisations and Charities, News | One Comment

Developing a marketing plan lets you articulate your strategic direction to ensure that marketing builds your capacity to achieve this vision. A marketing plan also enables you to identify the resources you need to deliver the outcomes you have identified.

Your marketing plan will only be implemented effectively if you identify the resources that are required. Consider not just budgetary considerations, but also the personnel and skills that are needed. Ensure that the required personnel are aware of their responsibilities and identify key metrics that will be used to measure the effective of marketing outcomes.

A holistic approach to marketing will often involve personnel across the entire business and you need to ensure that everyone realises how they can support the direction of the marketing plan. There is a need for marketing to function across a business, rather than being siloed as one standalone department. While the marketing department may have ultimate accountability over the delivery of the marketing plan, its successful execution will depend on the entire business.

Similarly, there is a need to identify timeframes that support the implementation schedule. Ensure that these timeframes are accurate with evaluation being undertaken to ensure that requirements are being met. Defining these timeframes enables you to monitor the progress of activities and to be aware of any variations.

Budgets also need to be accurate, with an understanding of the various tasks required to undertake the activities identified in the plan. Consider how each activity should be prioritised and the process needed for budget approvals. Marketing activities should exist to reinforce your strategic direction. As a result these tasks should be complement each other so you can build on the overall approach established through your plan.

Implementing your marketing plan is how you will see results from the direction you have identified. Ensure that you follow through by allocating the resources that are needed to achieve this vision.

How to create a plan that works

By | Advice for Businesses | No Comments

In business, as in life, sometimes things do not go according to plan.

If you are finding that things are not going to plan, the first thing to do is not to panic. Marketing Plans are designed to deliver ongoing results and you should have metrics that enable you to evaluate results.

Creating a plan that works can be challenging, and this is why as marketers we have the established credentials and expertise to create informed plans that deliver results.

The following five factors are important in ensuring that a marketing plan is effective.

Take into account your changing environment – when constructing a plan, take into account factors that may be subject to change. If there are emerging trends, or changing competitive pressures, consider how to turn these into opportunities.

Do your research – a plan is based on the information that is researched and analysed. Almost half of the content in our plans includes research into the current and future context to create a responsive and proactive marketing approach. Without the right research, you can reach the wrong conclusions. Make sure you take an objective and analytical approach when conducting research.

Be realistic – develop a plan that works with you rather than against you. There is no point developing a series of actions if you do not have the time or budget to implement them. Work to your strengths and ensure you create a plan that fits your business, in terms of skills, time and budgetary requirements.

Plans are only effective if you implement them – once you have a plan, start implementing it. Our comprehensive marketing plans are broken down on a week by week basis. By breaking down your plan, it becomes less daunting and easier for you to implement.

Measure your results – a marketing plan should have metrics built into it, so that you can track your progress. Set performance indicators and evaluate these results. Be proactive and respond to changes before they become problematic and impact you over the long term.

By developing and implementing a plan you will achieve ongoing success. A plan is developed to enable you to achieve your goals, so make sure it is built on solid foundations.

5000 Poppies to 100,000 – Crowdfunding Australia’s largest community arts tribute

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

In 2013 a grassroots campaign was started to hand make 5000 poppies. By 2015 over 100,000 poppies have been created across Australia.

We’re supporting 5000 poppies, and asking the community to help crowdfund Australia’s largest community based tribute of respect and remembrance.

5000 poppies was created by local artists Lynn Berry and Margaret Knight, whose fathers had fought in WWII. Community interest, from individuals and groups such as the Country Women’s Association, RSLs, schools and libraries, has seen thousands of contributors donate their time.

The intent is to unveil the poppies at Federation Square this ANZAC Day to ensure that the tributes can be properly acknowledged. Funding is required for event management and regulatory compliance and a budget of $50,000 is required to meet these needs.

5000 Poppies is Australia’s largest community arts project and we are pleased to be able to support this tribute. To assist in the fundraising campaign we produced a video outlining the aims of the project and how people can get involved.

2014 in Review – Thank you for being part of the Journey

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

We are almost at the end of 2014 with the new year fast approaching. This year has been a transformational time for us at Syneka Marketing, including the move to our new location in South Melbourne. We would like to thank you for being part of this journey with us.

Our regular Syneka Snippets and Blog will return in 2015, along with some exciting new initiatives that we’ll be launching shortly after the new year. To end 2014 we thought we would share our top 10 most visited posts from this year:

  1. Unveiling our new office at 204 Bank Street, South Melbourne
  2. Webinar and Presentation: Best Practices For Developing Effective Marketing Strategies and Plans
  3. Good Marketing Requires a Sound Methodology
  4. Setting Effective Marketing Budgets
  5. Don’t undertake hit or miss marketing
  6. Branding is more than just a logo
  7. Do you make New Year’s resolutions for your business?
  8. White Night 2014 – Whose night is it anyway?
  9. Networking@6 – A business event with a point of difference
  10. Let’s give marketing a definition

We wish you all the very best for the remainder of 2014, and look forward to reconnecting in the new year!