was successfully added to your cart.
Tag

review Archives - Syneka Marketing

A Strategic Approach to Measuring Marketing Performance

By | Advice for Businesses, Resources | No Comments

What value does marketing deliver? This is the number one question any Chief Executive or Chief Financial Officer asks of marketing. Unfortunately, more often than not, the answer is not forthcoming.

This is why marketing is often the first department to be downsized during economic uncertainty, despite logic stating it should be one the of the last. Why is this? Ultimately, it is because marketing has failed to justify its own value.

This situation will not change while marketing follows an execution based approach, lurching between tactics; whether they be social media, content, events; or concepts, like the customer journey or customer experience, which have become so over utilised, they have been severed from any basis in marketing.

This situation is rife across all sizes of organisation; whether for-profit, not-for-profit or government, and yet the traditional approach is rinse and repeat, further eroding the credibility of marketing and its capacity to deliver value.

Since our formation in 2009 we have demonstrated the value that is created through a strategic approach, leading to recognition in the Australian Marketing Institute’s Awards for Marketing Excellence and our designation as Certified Practising Marketers.

Unfortunately, the word strategy has been hijacked by execution led agencies, who have tarnished the term for their own needs. This is despite the fact that the only strategy you will receive for example from a social media agency is social media. This does not provide a marketing strategy that integrates each element of marketing communications and the remaining marketing mix.

In 2016 we want to be able to stop saying we told you so, by preventing the litany of costly marketing mistakes that never should have occurred in the first place.

This is why we developed the Syneka Marketing Performance Methodology , which delivers an accountable and measurable marketing approach that is aligned with business goals. The Syneka Marketing Performance Methodology delivers continuous improvement within the marketing function and brings it back to its core definition of delivering value; the same way other business areas have been expected to strengthen outcomes and returns.

The Syneka Marketing Performance Methodology

The Syneka Marketing Performance Methodology commences with a Marketing Audit, which reviews existing activities through stakeholder consultation and internal analysis. The Marketing Audit defines the metrics required to measure marketing outcomes and establishes the foundations to deliver marketing performance.

The Marketing Forecast considers the external environment, identifying competitive pressures, customer demographics and market potential to achieve campaign or marketing goals. The result are outcomes that are optimised to deliver returns, supported through implementation schedules that identify metrics, outcomes and areas of responsibility.

The Marketing Audit and Marketing Forecast are designed to deliver results within the existing resource requirements. The Marketing Plan, the third component of the Syneka Marketing Performance Methodology , is designed to align business goals with marketing outcomes. The Marketing Plan considers both the short-term opportunities and the positioning that is required to achieve results into the future. The Marketing Plan defines the metrics that are required to measure marketing outcomes over the life of a business plan.

Marketing Execution is the last element of the Syneka Marketing Performance Methodology . This is because tactics and execution need to be guided through a strategic approach and not the other way around.

In the financial world the auditor never undertakes the day-to-day bookkeeping function due to the obvious conflict of interest. Marketing needs a separation between strategy and execution to ensure the delivery of accurate and measurable outcomes.

Our delivery of the Syneka Marketing Performance Methodology is undertaken through consulting services and training to build the capacity of marketing teams. Download our free guide of Syneka Marketing Performance Methodology to discover how we are re-defining marketing.

Asking the wrong question: The Taxi Industry receives feedback via Twitter

Ask the wrong questions, get the wrong answers – Exploring the YourTaxis Campaign

By | Advice, Advice for Businesses, News | 2 Comments

It is unfortunately for too common for businesses to ask the wrong questions when seeking marketing support. This perpetuates the ineffective tactics led approach to marketing, which ultimately diminishes returns due to a lack of consistency with the desired strategic direction.

We often see this when a business is seeking website modifications, social media content or a branding refresh. There is the assumption that these isolated tactics will result in business growth, rather than the question being ‘how do we ensure consistency across the marketing experience and throughout each stage of the customer journey’.

Social media in itself will not foster customer loyalty or engagement if the customer base is not receptive to this medium. Similarly, a website will not result in new business if the processes behind the site are cumbersome or unwieldy.

Often there is need to dig beyond tactics to discover the broader marketing questions that need to be answered. Specifically, there the need to consider how each tactic should reinforce the customer journey to culminate in an experience that fosters outcomes.

We saw this earlier this year with Woolworths failing to consider the ramifications of its Fresh in Our Memories Campaign, and more recently with @YourTaxis, a social media campaign that failed in its attempt to shift public perceptions of the taxi industry.

Woolworths asking the wrong questions: The Fresh in Our Memories Campaign

Woolworths asking the wrong questions: The Fresh in Our Memories Campaign

While Woolworths should have had the resources, foresight and capability to think through the ramifications. The client of the YourTaxis campaign was a not-for-profit membership organisation that would have limited resources and failed to ask the right questions.

The Taxi industry, which has traditionally had few direct competitors, is now under significant pressure from Uber, despite the ride sharing service being somewhat legally ambiguous under current Victorian legislation. The Taxi Industry has responded by been undertaking advocacy efforts to review Uber given current legislation.

Uber has significant strengths in social media and strong online loyalty, aspects that are not shared by the taxi industry. A tactics based approach resulted in the YourTaxis campaign simply replicating what had worked for Uber, despite the high element of risk. The campaign failed on any discernible metric, with Twitter users complaining about Taxis and many complementing Uber within the same Tweet.

Asking the wrong question: The Taxi Industry receives feedback via Twitter

Asking the wrong question: The Taxi Industry receives feedback via Twitter

The question that should have been asked was ‘how do we improve the perception of taxis to assist in influencing the political debate?’ Had this question been asked, a social media campaign focused on soliciting public views would have never been considered.

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

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

Answering the right question would resulted in a substantially different campaign:

  • There would be a focus on service delivery, highlighting improvements, such as driver training and standards, as well as streamlining the complaints process.
  • Promotional campaigns would have focused on the role of taxis as a form of transport to an audience of State MPs and other decision makers, rather than end users.
  • A public component could have been explored through the hopes and aspirations of taxi drivers, with the aim of building personal rapport with the sector.

Answering the right question would have resulted in a campaign focused on the entire marketing mix, with stakeholders including passengers and policy makers. Alignment between each element in the marketing mix, particularly the service, processes and people elements would have enhanced the industry’s standing.

A strategic approach to marketing ensures the right questions are being asked, so you can reach the right answers. Unfortunately in this case, the wrong question was asked twice, with a second campaign on Remembrance Day resulting in further criticism through social media.

Asking the wrong question twice: The YourTaxis Tweet on remembrance Day

Asking the wrong question twice: The YourTaxis Tweet on Remembrance (not Rememberance) Day

The end result is an industry that now has a harder time influencing debate and decision makers, as well as a not-for-profit membership based association that most likely has diminished standing with its members. It is a shame when time, money and reputation is thrown away simply because the wrong questions were asked.

PS We attempted to reach out to the Agency that initiated the YourTaxis campaign to explore their perspective. We received no response.

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.

Setting the Business Agenda through Marketing

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

Many areas of business incorporate continuous improvement, ensuring that processes are streamlined to maximise efficiencies and to reduce costs.

Unfortunately, marketing is an area that is often overlooked, resulting in either aggressive cost cutting during economic downturns, or a rush to the latest buzzwords, with little strategic thought and consideration and returns.
Marketing like all other aspects of a business should be held into account, and needs to adopt a framework that fosters continuous improvement.

Our Syneka Marketing Framework, with our cycle of Audit, Plan and Execution, is designed to incorporate the feedback mechanisms required to improve business decisions, while identifying performance indicators and measuring outcomes.

Strategic Planning Framework

The Framework commences with an Audit as this enables you to assess current marketing activities and to incorporate metrics that evaluate outcomes. The Audit phases answers the question of how to maximise the return from marketing investment. This phase strengthens the measurability of marketing and provides input into the broader business direction.

The Plan aligns business goals with marketing outcomes, positioning marketing as the centre for innovation that drives business capacity. Importantly, this phase helps avoid a silo mentality, by embedding a whole of marketing approach and strengthening internal communications. As a result, marketing is able to guide business growth, through the identification of new market opportunities and aligning the customer experience across a business. The Marketing Plan guides not only short-term actions, but also longer term initiatives that will be achieved that strengthen business capacity.

The Execution component represents the implementation of actions identified in the Audit and Plan phases and is guided by the metrics that have been identified in the earlier phases. The embedding of metrics ensures that there is an ongoing review of marketing outcomes and that value is being achieved. The aim is to move beyond marketing for the sake of marketing and into an approach that provides a measurable return on investment.

The Framework reinforces the fact that marketing can and should be measured, moving beyond basic measurements and into metrics that actually matter for business growth. The approach enables marketing to step up and drive business outcomes, rather than being reactive and missing the ability to influence strategic decisions.

Further details are available in our eBook A Marketing Framework for Ongoing Performance.

A Marketing Plan identifies how you can achieve your goals

Marketing Rises – Harvard Business Review removes ‘Marketing Is Dead and Loyalty Killed It’

By | Advice for Businesses, News | No Comments

In February, the Harvard Business Review online published a syndicated article ‘Marketing Is Dead, and Loyalty Killed It’. The article cited erroneous examples of where loyalty was a supposed replacement to marketing. Yet it failed to understand that marketing is in fact the strategic direction that decides how important loyalty is for a business and how to foster ongoing engagement.

After several rounds of correspondence with HBR online, the article has subsequently vanished.

Publications that aim to adhere to professional standards should ensure that their contributors have the expertise to comment on a profession. Any author that claims marketing is tactics, rather than strategy, does not meet these standards.

While they claim this is due to technical issues, the ongoing correspondence has resulted in the consideration of a published response to demonstrate the breadth of the marketing profession.

Marketing Execution

How to create an effective implementation plan

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

An effective marketing plan provides clarity and direction on how to execute your strategic direction. When approaching the execution phase always consider the following:

Let your strategic direction guide your plan – your marketing plan should assist you when determining the specifics of your implementation action plan. It should inform you of what resources you need, who needs to work on the plan and if external assistance is required. An implementation plan should be set out in an order that maximizes the content contained in your marketing plan.

Work to strengths – when allocating responsibilities, remember to work to the strengths of your personnel, partners and suppliers. If there are tasks that you are unable to do as well as others, then consider who is best able to deliver these results.

Work to your timeframes – an implementation plan can be constructed to highlight activities that are required on a yearly, monthly, weekly or even daily basis. Ideally, your implementation plan should be created to match the level of detail and visibility that you need.

An implementation plan is a living document – it is important to remember that an implementation schedule and a marketing plan are living documents that should be utilised on a regular basis. Should your scope or direction change, you may need to undertake an audit of your marketing activities and refine your approach. If an event is delayed, go back to your marketing plan and adjust your implementation approach so you can ensure a timely approach.

The Syneka Marketing Methodology

Creating an effective marketing plan supported by an implementation schedule, ensures that you will have the steps you need to maximize your marketing plan.