Where Do You Need To Spend Your Time?
MARKETING
IS MORE THEN A LIST OF THINGS TO DO. It’s a very carefully strategized group of
messages, activities, programs and events that articulate a company’s position
in terms of differentiation.
BASICALLY, YOU HAVE TO ASK THIS QUESTION? Why should
a prospect want to do business with your company as opposed to the competition?
McKenzie’s Secrets of
Construction Marketing #2
The marketing message is a
very carefully strategized tactic. Strategy sets the direction, but it is the
marketing message that communicates it in a variety of ways – both direct and
indirect, because, marketing creates the environment for the sale to occur.
Marketing should be prioritized on an annual basis.
One way to accomplish this is to use a system based approach. The purpose is to
evaluate your current marketing program(what needs work now) relative to
your companies corporate strategy, and also compared to what the competition
emphasize in their marketing. This does not mean that you are going to copy
your competition, but it does mean that you want to be aware of what they are
doing so you can out flank them – to put it in military terms.
The systems approach uses a weighted decision
matrix, meaning that some decision is more important than other decisions.
There are three components:
- Strategy
- Needs Work
- Competition
Strategy is weighted more heavily
then Needs Work, and Needs Work is weighed more than Competition. Strategy. If
the activity is important relative to accomplishing your corporate strategy,
then is receives a score of a 10. If it is not important then it receives a low
score of a 1. Or it is related somewhere in-between.
Needs
Work: If
the activity needs a lot of work regardless of how important it is in the
overall strategy, rate it a 10, and a 1 if it doesn’t need work.
Competition:
Does the
competition use this activity in their marketing; if so and if you think it’s
important value it high, if not give it a low 1 score. The consideration here
is that you may find areas that you consider crucial to your strategic plan,
that the competition doesn’t feel crucial, and hence this might be an area to
exploit.
Below is a sample chart showed with the actual ranking
and then sorted showing what needs work based upon the highest score. You can
add and subtract from the list as your companies marketing matrix may be
different.
Future 2015 Amazon Title
