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leadership Archives - Syneka Marketing

Marketing Governance: Mitigating reputational and financial risks

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

Good governance needs to underpin all aspects of a business or organisation and this holds true for marketing. Unfortunately, marketing governance tends to be substantially underdeveloped, with blurred responsibilities and a lack of sufficient oversight.

The most evident examples are seen in social media, where a lack of oversight and a failure to link execution with strategic direction, has resulted in significant public mistakes by businesses (including large businesses like Woolworths and McDonalds), as well as not-for-profit organisations (as evidenced through the failed YourTaxis campaign).

Marketing Governance defines the roles and responsibilities of the marketing function, by considering three core elements:

2016-02-29 Levels

  1. Level 1: Executive – Leadership and Direction – Marketing leadership and strategic direction needs to be established at an executive level. This is often the Chief Marketing Officer and the Executive Team, or a combination of the board and Executive Officer within not-for-profit organisations. The strategic marketing direction needs to be consistent with the organisation’s vision.  In particular, the entire marketing mix needs to be considered, to ensure that marketing has visibility and suitable influence across the organisation. Suitable structures should be developed to support the need for marketing to be integrated into other business areas.
  1. Level 2: Management – Accountability and Oversight – Management is accountable for delivering the strategies that will achieve the goals established through the marketing plan. Management should determine the appropriate activities and tactics (within budget and resource parameters) that will collectively achieve the identified direction. Management is responsible for oversight across these activities to ensure consistency and to evaluate results. Management should be empowered to not only measure marketing performance, but to adjust these activities if the expected outcomes are not being realised. As a result, management must be able to measure marketing performance and be fully aware of the customer journey and sequencing that is required to motivate action.
  1. Level 3: Implementation – Execution – Execution is where relevant marketing tactics are undertaken based on the decisions made by management. The execution layer can involve internal teams, external partners or a combined approach, but should always have a clear understanding of the outcomes required. It is imperative that execution activities are briefed correctly and that inputs and outputs are not mistaken for marketing outcomes. Management needs oversight over execution to ensure that outcomes are consistent and delivering anticipated results. Measuring marketing performance enables adjustments and to ensure that all execution elements are working as intended.

Marketing Governance is an area that is far too often overlooked, but is required to ensure the evaluation of marketing performance and to reduce reputational and financial risk.

Marketing, as a function, and organisations overall, need to develop capabilities in marketing governance so we can finally see an end to mistakes that never should have occurred in the first place, had oversight and direction been suitably established.

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.

Golden Key RMIT Future of Leadership Youth Forum

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

Over the course of 2015 I have been undertaking a Masters in Marketing and have continued my involvement with Golden Key, a not-for-profit organisation that supports students who have achieved high academic merit in their studies. My involvement with Golden Key began during my undergraduate studies, with their skills assisting me in transitioning from a Financial career into professional Marketing Services.

Golden Key, through RMIT, is holding a forum on youth based leadership. This forum provides the opportunity for young people to build up their leadership skills with several industry experts, including Harold Mitchell (AC) and RMIT Vice Chancellor Martin Bean.

Please circulate this event to people that may be interested for this free event. Register through EventBrite. (link EventBrite to http://www.eventbrite.com.au/e/future-of-leadership-youth-forum-tickets-18275064209

Significant Women’s Network – Evening with Kelly O’Dwyer

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

The National Foundation for Australian Women and the Significant Women’s Network share a similar ethos in strengthening leadership development for women. This evening the organisations held a dinner and discussion evening with Kelly O’Dywer, the Member for Higgins and Parliamentary Secretary to the Treasurer.

Kelly discussed the need to promote gender equity through addressing inequities in taxation and the Government’s role in tackling the ongoing issue of domestic violence.  The discussion provided an opportunity to explore how gender inequity can be addressed through the Commonwealth Government and society.

The Significant Women’s Network hosts a series of professional development and networking events throughout the year, for further details visit www.significantwomensnetwork.com

20th Man fund logo

Twentieth Man Fund Fundraising Breakfast with Russel Howcroft

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

The 20th Man Fund exists to alleviate poverty and to provide positive opportunities for disconnected youth. Since its beginnings in Melbourne’s Western suburbs, the Fund has grown to provide services across Melbourne and Victoria.

The 20th Man Fund was created by youth worker Les Twentyman, who through his career, saw firsthand the effects of disconnection and isolation within young people.  Over twenty years later the 20th Man Fund has grown to provide a range of services, including crisis accommodation, support services and leadership development.

20th Man Foundation Breakfast

20th Man Foundation Breakfast

This morning we attended a fundraising breakfast, which featured former advertising executive Russel Howcroft. While Russel is known for his appearance as a panelist on the Gruen Transfer, the breakfast provided an opportunity to learn more about his life prior to his career in advertising. Russel discussed his childhood and work history, which then developed into a passion for advertising and his subsequent involvement at Channel 10.

The 20th Man Fund is an example of a not-for-profit organisation that is dedicated to its mission in creating opportunities for young people. For further information please visit www.20thman.com.au

A Marketing Plan identifies how you can achieve your goals

Re-imaging Marketing: Make Marketing Work for You Workshop – 14th May 2015

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Following the success of our last workshop, Re-imagining Marketing: Make Marketing Work For You returns on Thursday the 14th of May.

Re-imaging Marketing: Make Marketing Work for You is a free 1.5 hour workshop that is designed to facilitate a strategic marketing approach. You will learn how to create an impact through connecting your business goals with marketing that delivers measurable results.

Presented by our leadership team, Alex Makin and Natalia Perera, you will gain the following insights:

  • What marketing is and how to utilise it
  • Why marketing matters for your business
  • How to identify marketing outcomes
  • The key to successfully implementing your marketing strategies, including making the most out of creative and digital marketing

Re-imaging Marketing: Make Marketing Work for You will be held from 11.00am to 12.30 pm at Room 8 NABVillage (700 Bourke Street, Docklands) on Thursday the 14th of May.

Register now for this free event