Marketing requires plan, measures
Published 10:39 am Tuesday, May 19, 2009
Does marketing seem like a broad and elusive concept to you? If so, you’re not alone.
Marketing can become frustrating without a clearly-defined plan or appropriate return measurements.
However, marketing is neither difficult nor wasteful when conducted with proper analysis, focused intent and a clear definition of the intended results.
First, consider some general determinants such as exposure, perception and accessibility. Exposure involves clearly defining who the marketing message is for, the most efficient delivery method and message frequency.
Perception is driven by product or service differentiation, an inference of unmatched value and an escalation of positive returns.
Accessibility includes the investment amount you seek from consumers, physical and/or virtual location, ease of acquisition process, availability of substitutes and the total cost of switching products/services.
In summary, marketing is about reaching the greatest number of targeted recipients through the most efficient method.
The objective is to realize the greatest level of return with a precise call to action that evokes response yet ensures availability through price points and delivery systems that preserve margin and increase market share.
Developing and launching a well-defined and focused marketing campaign must also include appropriate results measurement.
Without measurement, nothing is learned, nothing is improved, and everything becomes speculative.
I suggest starting with one resource that I found helpful. The book is titled Marketing Metrics published by Wharton School Publishing, April 2006. There is a full range of metrics available for measuring marketing strategies and campaign results and this book over delivers.
Scott Gassner is executive director of Design Group LLC. He can be reached at email@example.com.