The elements of marketing success

By January 27, 2012 July 16th, 2012 All members

“What are the elements of marketing success?” or “How successful will this be?” I am often asked these questions by business owners, managing directors and nervous investors. They may be about to launch. Or they may be about to kick their product or service hard enough so that it is, hopefully, propelled into orbit.

The product or service itself is only one part of the jigsaw puzzle of success. Here are some of the other jigsaw pieces:

VISION
Successful people know where they are heading. They know their compass bearing. No matter what happens during their journey, they keep on course. Do you have a clear vision of your future business? If I spoke to you right now – could you describe this picture to me in detail?

BUSINESS MODEL
The internet, rising competition and economic turmoil have disrupted entire industries. The ubiquitous use of technology has slashed costs, made old skills irrelevant and created new opportunities for fast learners. Does your business model reflect these changes?

MARKETING PLAN
Do you have an up-to-date written marketing plan?

CUSTOMER FOCUS
Are you operating a product focused or customer centric business? The second approach is a game changer. If your mind is wrapped around technical issues and features, you are wandering in the dark. There is a cliff edge close by. Quite soon you will be united with it.

COMPELLING COPY
The written word is central to marketing communications. Arguably, it is even more important in a digital age. Can you write flowing text as fast as you can type? Is your copy grammatically correct and easy to read? Does it hold the reader’s attention? How often do you write? Do you love to write?

PROMOTIONAL MIX
You should be using at least ten promotional techniques. How many are you using?

DIGITAL MARKETING
To what extent are you embracing the world of digital marketing? Do you, your enterprise and your products / services appear in Google if I search for them? Are you engaging with the social web? Are you continually learning?

CLOSING THE SALE
Investing your time (and money) in marketing is all very well – but you have got to close that sale. Have you had professional sales training? What was the last book you read on this subject? Do you consider yourself to be a salesperson?

So when I am asked “How successful will this be?” …my mind wanders around these issues. How about you? Are you happy that you are addressing all of these areas?

This blog is the first in a series – based on The Marketing Compass Manual which is part of Navigator membership of The Marketing Compass. The Manual contains over 50,000 words of structured marketing thought. It took me a year to write and it contains the key elements of small business marketing success.

If you have any more questions about the elements of marketing success, just ask!


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