Effective marketing organisations must be driven through sound business strategy. Fit 4 Market produce marketing strategy that is always well embodied by your business strategy.
The best marketing strategy does not start with creative, it starts with a marketing process.
The F4M Marketing Strategy Development Process is a thorough problem solving and marketing strategy development program that focusses on solving your growth challenges and maximising the return from your company's marketing operations. It is particularly useful for innovating within a market or creating a position of market leadership.
Indentifying key sources of growth, challenging the current business operations and identifying key growth creating activities are crucial for businesses which want to grow.
The process looks at your whole business with the aim to maximise the potential by focussing on:
- reviewing your market conditions
- reviewing your current market challenges and capabilities
- identifying and maximising competitive advantage
- creating and amplifying market positioning
- developing new revenue sources
- maximising market communication techniques
F4M works alongside senior management to develop achievable and actionable strategies and build the company plans around them. Real results are achieved when your management team have consistent and ongoing interaction with the F4M team. At the end of the process, you must own the strategy and be able work the plan yourself. You are left with a growth system which is repeatable over time to achieve consistent growth. Companies effectively implementing this program often achieve more than 25% ongoing growth per annum.
Business owners, senior executives and managers are frequently facing growth related issues such as: - Turning around a declining sales trend - Identifying and entering new markets - Launching new business and product lines - Identifying emerging growth opportunities - Managing the risks of growth If you have any of the above issues, then the F4M Marketing Strategy Development Process is for you.
The process considers what could be rather than only what is. Whereas, a regular marketing strategy process might simply consider what a customer tells you and respond, F4M considers how a customer might react when given a slightly or radically different proposition to the one currently in the market.
Each strategy generates actionable tasks to achieve medium and long-term revenue and growth targets. Brief but highly strategic plans are created that drill down into action items. You are then lead through specific actions to implement, or the F4M team implement them for you.
Experience the F4M Marketing Strategy Development Process. It is a tailored program designed to provide companies with the highly-focussed strategy development and implementation resources necessary to address specific growth challenges and opportunities.
1. Seek and learn.
Information Gathering - The first step is to gain an understanding of the market in which you are participating; target audiences, competitor offerings, current pricing and more. Review the business realities - Gain an understanding and commitment to potential resources available to make it all happen. Review the market realities - What limitations might we be dealing with and how far can we push the market potential?
2. Set the hypothesis.
Hypothesis development - Develop the potential strategic alternatives and understand what would need to happen for them to become reality. Reality test - Review the strategies for practical application, decide which are practical now and which could be left for a future date and understand what resources are necessary to make these alternatives. Solidify strategy - Make some strategic decisions to understand which alternatives provide the growth desired, build an understanding of the risks involved, ensure all strategies can work together and consider the reality of them working within the business.
3. Set the course.
Key strategies - Articulate the strategies and provide means for measurement and communication. Plan action - Develop broad and specific actions stemming from the strategies.
4. Build a foundation.
This stage involves developing a compelling ‘marketing tool box’ that clearly defines your value to the target audience and creates appropriate messages and triggers to sale.
5. Implement and educate.
The stage after the plan development involves completing agreed actions and driving deep engagement and understanding throughout the company, whilst developing the ongoing implementation activities, including allocation of resources.
Business-to-Business Marketing Strategies
What do business professionals think about marketing in the business-to-business (B2B) environment? We examined survey results and reports* that compiled data on the topic, and created a list of eight B2B marketing strategies commonly recognised as successful regardless of industry.
- Referral Programs
- Word of Mouth Plus
- Trade Shows
- Online Advertising
- Search Engine Optimisation (SEO)
- Content Marketing
- Inbound Marketing
Choosing the Right Marketing Agency: Marketing Execution Vs Marketing Strategy
If you pretty much know what marketing you need to do and how it is going to be accomplished then most likely you need some type of marketing agencyto do it for you. Depending on what the activities are, you will choose a different type of agency. For example, if you are more likely to be doing TV, radio or magazine advertising you will likely need a traditional advertising agency. If it sits more in the digital realm, with a lot of Google AdWords or YouTube commercials, then a digital advertising agency is probably for you. Alternatively, you may simply need a graphic designer to bring your ideas to life.
Making Marketing Plans Happen
A marketing plan is paramount for achieving business growth. The purpose of a marketing plan is to assess the current market position of your business and develop marketing strategies and actions to undertake to meet your business objectives. Putting together a strategic plan that develops your business around your competitive advantage, and ensures that you are in a position to take advantage of your strengths, is a key to continued business prosperity. Of course, once you have the plan, making it work is the next step.
This is a three-fold process:
1. Understand your marketing strategy
2. Aim for 80%
3. Practice makes perfect