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syneka Archives - Syneka Marketing

We are redefining marketing – hear us speak at two upcoming events

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

Our vision is to redefine marketing and we do this by delivering measurable and accountable marketing outcomes through the Syneka Marketing Performance Methodology .
Throughout June we will be presenting at several key events to highlight the role of marketing and the need for marketing to step up and deliver outcomes that reinforce organisational goals.

Webinar: Redefining Your Marketing – how you can measure and improve your returns and performance

On Wednesday the 8th of June we will be hosting Redefining Your Marketing – how you can measure and improve your returns and performance, a feature webinar hosted by ProBono Australia.

Not-for-profit organisations are facing immense pressure to become market responsive and yet marketing remains widely misunderstood in the not-for-profit sector.
This one hour webinar will assist not-for-profit organisations in developing a strategic approach to marketing. We will explore the sequencing and touchpoints required to enhance the stakeholder experience and explore the framework required to instill effective marketing governance and accountabilities.

Attend this session to ensure an alignment between marketing outcomes and organisational goals and generate a positive return from marketing resources.

Register through EventBrite to attend this session for Wednesday the 8th of June at 2pm. Pricing is $55 for individuals and $300 for organisations (with unlimited staff access).

The Business Seesaw at the Melbourne Brekkie Club

On Thursday the 9th of June we will be presenting at the Very Melbourne Brekkie Club, through the Melbourne Business Network in a collaboration with Paul Ostaff, from our management consulting partner, Reignite Consulting.

Join us as we discuss the Business Seesaw, as we explore the infrastructure required for businesses to build their operational and marketing capacity. Many businesses struggle to balance the need for business growth through marketing and service. Reignite Consulting and Syneka Marketing will be outlining our framework for businesses to achieve operational and marketing excellence.

Details and registration is available via EventBrite and is open to members of the Melbourne Business Network.

Do not overlook your products and services

By | Advice for Businesses | No Comments

The marketing mix, or customer experience, forms the foundation of a strategic marketing approach. Each element within the mix needs to be considered from a strategic perspective to ensure alignment between business goals, market value and marketing outcomes.

While many businesses understand the core of what they offer, they often overlook the other attributes that consist of their product or service. A product or service will typically have three core components:

  1. The Core  – the fundamental need you provide. The core is the generic need that that is fulfilled by utilising your product or service. For example in hospitality you are satisfying hunger, or shelter for accommodation. This is often cited as one of the reasons for the failure of Kodak, since it failed to consider that its products provide story telling or memories, not photography.
  2. Actual product – the tangible components that customers interact with. This is the physical configuration of the product or service, including packaging, staff interaction and the product itself. Hospitality incorporates the setting of the restaurant, cuisine selection and attitudes of staff. In the case of Kodak, the product included the film quality, packaging and store interaction. Had Kodak considered its product as storytelling or memories, then the actual product would have encompassed digital storage, cameras and photography sharing.
  3. Augmented product – additional components you can offer to differentiate yourself from competitors, which reinforce your value proposition. A fine dining restaurant may incorporate an additional course in a degustation menu for regular customers, while a hotel may offer valet parking or extended check outs.
Product components

A product consists of many components – all of them need to be part of the marketing mix

Failing to incorporate a holistic view of your products or services will cause fragmentation within the marketing mix and diminish outcomes. Marketing needs visibility and influence into product development and service composition to ensure alignment across each element of the marketing mix.

Online retail – just another channel to market

By | Advice for Businesses, News | No Comments

With the growing popularity and proliferation of the internet, there is an increasing perception that online shopping is the key to success in retail. Retailers such as ASOS and The Iconic have achieved mainstream success, and have often been targeted by retailers as the reason why they are losing both sales and relevance.

An online store, from the surface can seem like a simpler, more cost effective way to run a retail operation. Visual merchandise, hiring competent customer service staff, securing the right location and gaining customers can often seem like an afterthought when running an online store but are often still necessities in the online space.

Running an online store does not guarantee success, particularly when there is a single channel and tactics based approach to marketing. It is worth noting that ASOS and The Iconic invest in offline communications, including PR and outdoor advertising.

Running an online store has its own challenges. While some operational costs can be minimised, running an online store attracts its own costs across the supply chain, including warehousing, distribution and freight charges. An online store also faces the issue of attracting the right target audiences to its store and enticing them to commit to a final purchase. This is critical given how easy it is for an online consumer to compare prices of the same product across a variety of channels, including bricks and mortar stores.2016-04-29 online or bricks and mortar

Furthermore, pricing is not always a key incentive, given that some bricks and mortar retailers, actually charge more for some of their products when purchased online.

The reality is an online store is one component of the marketing mix and should not be viewed in isolation. This is why retailers such as Coles and David Jones are encouraging their customers to return to their bricks and mortar stores to pick up their online orders through a “click and collect” system. A bricks and mortar store provides the ability to engage the five senses, and for the customer to develop brand loyalty that goes beyond price comparisons.

Engaging a customer across the marketing mix means that a business has the ability to establish its point of difference, and develop ongoing relationships with its customers. Digital should be viewed as a tool that assists in this success rather than the ultimate solution. Digital needs to reinforce the overall customer experience rather than be considered the only channel to market. Virtual shopping assistants, online communities and digital activations can help bridge the gap between the bricks and mortar presence and online store.

Successful retailers understand the role of place and distribution in the marketing mix, as well as the need to engage customers throughout the journey. A single channel approach, whether physical or online, is destined to fail.

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.

NGV Members Summer Party – Andy Warhol and Ai Weiwei

By | Advice for Businesses | No Comments

Syneka Marketing is a proud patron of the arts and we are a supporter of the National Gallery of Victoria, through membership and event participation.

Each year the National Gallery of Victoria hosts its Summer Party, highlighting its current exhibition and providing a lively atmosphere, through music and festivities. This year, the Summer Party coincided with the premier exhibition featuring Andy Warhol and Ai Weiwei.

Andy Warhol, as a leading figure in pop art, blurred the lines between celebrity and artist, using a combination of mediums to convey his artist intent. Andy Warhol had a background in commercial illustration and advertising, which carried through to his artistic work where he often explored the impact of icons.

Andy Warhol's Campbell's Soup Cans (1962)

Andy Warhol’s Campbell’s Soup Cans (1962)

Ai Weiwei extends many of Andy Warhol’s concepts, juxtaposing modern icons with a political overlay and historic context. In particular, Ai Weiwei has extended the interaction between artist and community, incorporating active social media engagement, while maintaining a focus on human rights.

The Andy Warhol and Ai Weiwei exhibition demonstrates the evolving nature of art. The National Gallery of Victoria’s Summer Party was the ideal occasion to see the unfolding narrative of these works.

The Andy Warhol and Ai Weiwei Exhibition concludes on the 24th of April.

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.