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perseverance Archives - Syneka Marketing

Marketing – Your short-term action need to strengthen your long-term position

By | News | No Comments

As a strategic marketing agency we work with our clients to align their business goals with marketing outcomes. The end result is a combination of short-term actions that can be implemented immediately and activities that build the capacity of a business over the longer-term. Like personal goals, business goals can take time, perseverance, strategy and dedication to accomplish.

Unfortunately in today’s fast paced environment it can be far too easy to rush into ill-considered short-term actions, which can have a detrimental impact on growth over the longer term. Aggressive pricing discounts are one of the most evident examples of this approach, whereby a short-term spike in sales, will often jeopardise the value proposition over the longer term.  Pricing is one element of the marketing mix and needs to be considered in tandem with all aspects of your business.

A tactics led approach can perpetuate business uncertainty, given that there is little consideration on the overall impact of a business. As a consequence, the wrong metrics are often collated, providing numbers that appear positive, but have little value. Classic examples include website visitations, when the more important metric is conversion and measuring the desire to purchase.

Furthermore, marketing activities do not work in isolation, and there is a need to measure the effectiveness of several activities across the entire decision making process. The evaluation of your marketing activities need to not only look at the performance of each tactic, but also their collective impact.

Unfortunately, it can often be difficult for business owners to view their business objectively, leading to poor judgement around strategic marketing decisions. Marketers need to demonstrate strategic expertise to ensure that all activities are assessed objectively and in the context of business goals.

The lack of objectivity is often evidenced in the rush for the latest trend, where the buzz blurs the metrics that actually matter. Content is the current example, whereby content for contents sake achieves little, but a targeted approach aimed at connecting and engaging target audiences, can have merit.  Social media was previously caught in a similar buzz, with metrics highlighting Facebook likes, but with little consideration on the need to convert these likes into advocates and customers.

A strategic approach looks beyond the buzz and begins by viewing a business holistically. There is a focus on relevant metrics, so that a business is able to measure outcomes and adjust to changing needs as required. As result, marketing activities focus on overall impact, ensuring a consistent experience that motivates purchase decisions.

Importantly there are often compounding benefits to a strategic approach, with short-term initiatives strengthening over time and reinforcing the value proposition of a business.

Business success is never going to be achieved by looking at discrete short-term actions, or rushing to the latest buzzwords.  Focus on your longer-term aspirations and begin by exploring initiatives that can be achieved in short-term while being consistent with your business goals.

Hearing Nene King Speak at the VECCI Women in Business Lunch

VECCI Women in Business Lunch

By | Advice for Businesses, Advice for Not-for-profit Organisations and Charities | 2 Comments

As a business owner, I enjoy hearing about the successes of other women in business.

Today I attended the Women in Business Lunch organised by VECCI at Crown Palladium. The keynote speaker was Nene King, the former Editor of Women’s Day, who revolutionised the direction of the magazine during the mid 1980-1990s.

Prior to this event, I knew very little about the personal drive of Nene King.

With the recent release of the mini-series Paper Giants: Magazine Wars, Nene has yet again found herself in the spotlight.

I was surprised by her honesty, wit and ability to talk openly about her accomplishments and failures.

During the mid 1980-1990s Nene was one of the most powerful women in Australian media. Nene discussed how she attributed much of her success to her instinct in knowing what the Australian public, and women in particular, wanted.

Mandy McElhinney who portrayed Nene in Paper Giants was also a speaker. Mandy achieved much of her success after appearing as ‘Rhonda’ in advertisements for AAMI. She is an example of a woman, who, with perseverance and resilience, has managed to achieve her goals after turning forty.

It was interesting to hear Mandy speak about portraying Nene, who was someone that she had little contact with in the past.

One of the main things I learned, is that Nene did not regard gender as an issue whist she built up her career. She focused more on achieving outcomes and working towards her vision, of becoming a leading force in media and communications.

The event was well organised and attracted a large audience, including quite a few men! I had the opportunity to network with many people at this event and to discuss their business experiences.