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relevancy Archives - Syneka Marketing

Measuring Marketing Performance – Don’t confuse inputs for outputs

By | Advice for Businesses | No Comments

Last time we explored the customer journey, returning to the decision making process, as a potential customer begins at a pre-purchase phase prior to a purchase and then post-purchase considerations. We also explored the customer experience, to ensure that the term returns to its core definition within the marketing mix.

Both of these concepts demonstrate the need for consistency, as well as multiple contact points to reach customers and influence decisions. As a result, there is a need for a holistic view of marketing, since running disparate tactics will result in diminished outcomes. Furthermore, undertaking a holistic approach enables a greater degree of confidence in decisions and the ability to measure overall impact.

Unfortunately there is a lot of misinformation in regard to the measurement of marketing performance. Firstly, offline content, such as product factsheets, print media, radio and TV can be measured and should be evaluated to understand overall performance. Secondly, many digital metrics, such as website visitations, social media interaction are in fact inputs rather than outputs.

Far too often, we see marketing managers that report on website visitations, Facebook likes or Twitter followers, without providing metrics that consider the end outcomes, namely conversions into customers or repeat purchases. The key is to use these inputs and map the contact points that are required across the customer journey to achieve the end result, such as a purchase or repeat purchase. Similarly, the customer will have differing forms of interaction with a business, beyond promotions, such as a direct interaction with staff, or a visitation into a store. Each of these aspects form part of the journey and need to be measured, as an adverse experience across any of these areas can deter purchase intent.

Begin by assessing the channels that you use to raise overall awareness and then consider the next steps that a customer takes once there is general awareness. Is your prospective customer visiting a website and then following up through email or phone, or do they undertake further research, prior to returning? Is the first point of contact a broadcast medium or referral, rather than a website?

Pre purchase purchase post purchase

Each of these components form an input into the end goal, so consider overall reach, followed by identifying customers that have taken a subsequent step along the next contact point. Benchmark and evaluate these results so you can make informed decisions on the rate of marketing return and the effects of any modifications. As a result you can identify the relevancy of website visitors, whether event participation is reaching the target audiences and overall number of contact points and timing required to achieve purchase intent.

Australian Computer Society

Australian Computer Society’s Entrepreneurship and Innovation SIG: The Entrepreneurial Journey – Challenges and Rewards

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

The Australian Computer Society is the professional body representing the IT profession. This evening I was invited to the Entrepreneurship and Innovation Special Interest Group, to discuss the role of marketing in enabling an entrepreneurial journey.

Marketing and IT are more closely related than they first appear. Both perform a support function for many organisations, enabling them in turn to deliver their core products or services. In addition, marketing insights are enhanced through IT’s role in data collection and analysis.

With a growing emphasis on tech startups there is a tendency to romanticise the industry, with people forgetting that companies such as Microsoft, Apple, Google or Facebook were not overnight sensations. While their products were part of their success, it was the execution of their marketing plans and direction that made these products relevant.

Developing a new App or IT based innovation is the first stage of the entrepreneurial journey, getting it to market and maintaining relevancy is what leads to ongoing success.  During my presentation, I outlined the role of marketing and highlighted a number of areas that are often overlooked by entrepreneurs.

In particular, there is a need to understand market segments and the potential userbase.  No product is relevant to everyone and it is important that you take the time to understand your key target markets.  In addition, you should consider your supply chain, investors and business partners, so you have a strategy that considers the value they receive from your innovation.

Furthermore, competitors are another area that is often overlooked.  It is factually incorrect to assume that a new product has no competitors. While there may not be other direct competitors (those offering the same product or service), there will be indirect competitors (who offer similar products) and other forms of competition that will compete for your target market’s time and money. Understanding the competitive landscape is essential to developing a successful innovation.

One of my aims is to educate communities on the importance of undertaking a strategic approach to marketing. The presentation at the Australian Computer Society’s Entrepreneurship and Innovation Special Interest Group works towards this vision.

Alex Makin appointed Chair of the Australian Marketing Institute’s Victorian State Advisory Committee

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

The Australian Marketing Institute is the peak association for the marketing profession within Australia. Both myself and Syneka Marketing are members of the Australian Marketing Institute to support the aims of the association.

I recently joined the State Advisory Committee to help shape the future direction of the Australian Marketing Institute and our inaugural meeting was held this evening. At this meeting I was confirmed as Chair for the Victorian State Advisory Committee for a two year term.

The Australian Marketing Institute has undertaken a substantial review phase, including new governance structures and the recent appointment of Lee Tonitto as CEO. As a result, there is an emphasis on strengthening the marketing profession, and growing the relevancy of the Australian Marketing Institute.

The State Advisory Committee is responsible for event planning, as well as member recruitment and retention within Victoria. We have a great team of marketing professionals who have offered their time to the State Advisory Committee and I look forward to working with each member in 2015 and beyond.

I would also like to thank Christine Walker, the outgoing Chair of the Victorian Council. Christine was one of the first people I met through the Australian Marketing Institute and we share a similar passion in developing the marketing profession.

I have often commented that there is a need to define marketing and articulate the value that marketing offers. I look forward to growing the Australian Marketing Institute and highlighting the importance of marketing as a critical function in any business or organisation.

Deliver Results through Marketing Implementation

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

Marketing implementation is the ongoing execution of your marketing activities. This phase should only be undertaken once you have completed your marketing plan, as this will identify what types of marketing will be most effective for your business.

The first stage when executing any marketing activities, is the development of an implementation schedule.

Develop a schedule of when tasks need to be completed and work backwards to identify when they should commence. Identify which activities are dependent on others, so that tasks are able to be completed as required. For example, a brand and visual identity will be required before developing brochures or a website. Developing a brochure without a brand will result in diminished outcomes.

Marketing implementation can take many forms and ultimately depends on your products or services, your target markets and your available resources. Branding, logos, media engagement, websites, business development and the sales process are all aspects that should be considered as part of marketing implementation. Each of these marketing tools will influence purchase decisions and your target markets, so your marketing plan should be used as a guide to ensure consistency and relevancy.

The marketing methodology includes the key phases of your marketing activities. The marketing methodology includes the key phases of your marketing activities.

Marketing implementation will often require the ability to work on multiple tasks simultaneously. Some tasks, such as attending networking events or workshop sessions, may be ongoing and you will need to manage these activities while working on other items.

Most of the identified marketing activities should be interconnected, so you can develop a consistent approach and leverage each outcome. Interconnectedness will strengthen your overall marketing messages, since each activity should reinforce the value proposition you identified in your marketing plan. Ensuring a consistent approach you enable you to develop a narrative that clearly articulates your value proposition and the outcomes you provide.

Your marketing plan will also assist in being able to measure results. Consider the purpose of each marketing activity, who it is that you want to reach, how you will reach them and what outcomes you are anticipating. All forms of marketing can be measured, including offline methods. Consider the use of tracking codes, or specific telephone numbers to measure the effectiveness of brochures and leaflets.  Also remember that often a customer will require a number of contact points before responding, gain an understanding of which tools and messages resonated with them.

A strategic approach to marketing implementation, through the marketing planning process, prevents a hit or miss approach to marketing. Ultimately this saves you money and time because you have a clear understanding of what is required to achieve your business goals.