Is Marketing Execution More Important than Strategy?

by | May 24, 2018 | Marketing

Many marketing guides start with developing strategy – understanding your focus and defining your brand.  I argue that execution and excellence are more important than developing vague brand and marketing strategies.  As Walt Disney said:

“Do what you do so well that they will want to see it again and bring their friends.”

While this quote may seem obvious, it has a number of implications that are frequently ignored.  For example, when I talk to marketers, they frequently discuss the latest hot trend – targeting, SEO, social media, videos, paid search, etc.  However, how we execute these strategies for our situation may be more important than the specific program.  In addition, many marketers downplay measuring the results of marketing efforts.  Now, digital marketing allows you to develop, test, measure and adapt.  You can now test various programs and strategies before making expensive commitments.  Paid search is an example where key words, offers, and links, are frequently the keys to success.  Thus, testing various alternatives can dramatically help focus a program.  However, many advocates will recommend spending thousands of dollars a month with little clue of what will work.  Similarly, many marketing programs get enamored with technology while ignoring basic execution concepts.  For example, I recently read some exciting marketing plans from a client that included videos, links, and many other details.  However, they were so focused on technology that they forgot simple things like phone numbers, e-mail addresses, and how they would help their customers.

Here are some tips related to execution in your marketing programs:

  1. Goals – What are your long-term volume and image expectations?  Are you building sales just for today, or are you seeking long term customers?  What are your organizational and financial resources?  Who is your target market?  What is your competitive positioning?  The answers to these questions can change during the marketing strategy process, and they will affect your program as you begin to execute in the real world.
  2. The Internet – It’s fast, centralized, and cost-effective. Traditional print media and many retailers are dying compared to Internet retailers like Amazon (who represent between 35-45% of internet consumer sales, and are growing at about 20% per year.)
  3. Pricing, Stock, Forecasting, and Value – Now with the ability to reach customers in remarkable ways, you must consider all of these as part of your plan.
  4. Product Expectations and Customer Service – You’re a brand.  People expect a certain kind of quality based on your target demographic, so keep that aligned with your goals.
  5. Develop, Test, Measure, Adapt – This is the scientific method for a Lean Startup Strategy, and thanks to the Internet you can do all of this really quickly.  One of the key recommendations of Eric Ries in The Lean Startup is to “test, measure, and pivot until you get it right.”
  6. Customer Retention – Satisfied customers are the best, most cost-effective way to grow a business.
  7. Traditional Advertising – While firms generally are spending less money on traditional media, it can still be an important component of good marketing (especially if your products and services lend themselves to such media).
  8. Distribution – How are you selling your products or services?  Trends in distribution are changing rapidly, and your process needs to be in sync with the times.  For example, automation and customer service are replacing the direct salesperson.  Money can be saved by eliminating traditional channels and substituting direct shipping and the Internet
  9. Integration – The key to an excellent marketing plan is to employ all of the tools you consider relevant and affordable, and to develop a targeted plan with clear action steps and benchmarks.  First and foremost, the plan must fit your goals and your budget.  It is then critical to measure the results and adjust to maximize your goals and profit.
  10. Risk and Openness – I encourage you to consider more risk in our changing environment, and I also suggest changing the business culture to encourage more risk-taking.  I often say, “If you aren’t making mistakes, you aren’t trying hard enough.”  Mistakes mean you and your business are growing.  Consistently exploring alternatives and evaluating your decisions will help you figure out what’s working.
  11. Measurement – A number of general guidelines should be followed when making goals and measuring them.  First, make goal-setting a process and communicate these goals to those involved.  Second, be certain to understand the different needs in different situations.  Third, be sure to use clear and simple measurement tools.  Fourth, be sure to use the process for improvement (rather than simply as a tool for criticism).  Focus on the mediums that work the most; not based on trends, but on what has the best outcomes.

Dr. Bert Shlensky has an MBA and PhD from the Sloan School of Management at MIT.   He is the President of the New York-based consulting firm The Startup Connection, where he uses his 30 years of high-level business experience to guide his clients towards maximum sales and profit. For a free consultation, please visit www.startupconnection.net.

Why Packaging and Distribution Seals the Deal in Doing Business

by | Aug 2, 2017 | Operations

We think there are a lot of stigmas out there when doing business. Better yet: stereotypes. And some are more prevalent than others. That, however, doesn’t mean you should neglect those ‘others’ for the ones that seem to make more sense: like the business logo, or product development, or how you market and brand your business. Believe it or not, but if you want that business of yours to be successful, make sure you’ve checked this off your list — packaging and distribution!

You Won’t Believe How Important It Is to Ensure You’ve Got That Process in Place When Doing Business

How are you ‘packaging’ your product and service? Are you? If not, you’re missing out on a very valuable piece of the marketing pie. After all, where the heck is the logo going to go? On the package.

doing business-1

Delivery is even more important as you study and research your industry. Logistics is a no-brainer. You have a physical product, you have to get that product in their hands, or else it really doesn’t matter how cool your product is. If the customer can’t get to it, you don’t make money.

But delivery isn’t necessarily about physical transportation. You could have a product or service that’s 24/7, on-call service, or an online product of some kind. Think of the newer-age business brands out there like Uber, Amazon, Airbnb, and Zappos — distribution has become something way more complex and effective than just simple packaging and trucking.

Perhaps you sell digital marketing services, and your work is done via account management. Lay out your delivery processes and make sure your prospective customers know what to expect — and when you’ve got that out of the way, make sure it gets done every time.

 

After All, Your Customers Can’t Buy and Keep Buying If They Don’t Get Your Stuff Somehow

Be it brick-and-mortar, online e-commerce, or just a delivery service — whatever it may be, get it situated. Make sure the operations are in order. Because you don’t want to launch without having all of those details etched in stone, ensuring customers know what’s coming. In many ways, this is the final gift to great service — they finally get it, use it, love it, and then, of course — they come back for more of it.

That’s business success.

Dr. Bert Shlensky, President of The Startup Connection, directs all small business clients toward maximum sales and profit thanks to his 40 years of high-quality experience. He does this through technological, social, and online integration, supercharging your business success into the next level, so don’t hesitate to sign up for a free consultation RIGHT NOW.