This article also has another 'step by step' outline for making the most of the marketing budget a business has. However I found that a couple of the steps could have been more indepth with the descriptions of what could help with successful use of a marketing budget, but overall gave a great outline on how to make the most of it.
However, this is not only important when communicating your brand messages to your consumers, but also when it comes to dealing with other businesses too. Another of my involvements, with a client looking to raise money, ...
Elly Nooyen's insight:
I loved this article as the author put his own experiences with communicating with the conumers in, which made it easier to relate to and understand the point he was trying to make. I definitely agree with how important it is to communicate your brand to your consumers. If the brand isn't memorable or producing what the consumers desire then it most likely won't get a second chance from them. 'Identity is something a brand has to be consistent with', I agree with this statement fully as the communication with consumers through branding is significant when it comes to the experience offered to them, as a company is often seen and judged through its brand and the success of it.
Five Steps to Avoid a Marketing Strategy and Planning Disaster:
1. Identify your business goals and evaluate them in context with the latest marketplace realities and customer research. Start with the customer problems you can solve and take their perspective. 2. Ruthlessly evaluate what worked and what didn’t in the past. Pick winners and prune the losing tactics, techniques and processes. Shift people to where they are needed most. 3. Model the appropriate marketing mix in order to achieve a higher return on marketing spend. 4. Define a Content Strategy based on the needs of todays’ buyers. Create an audience-first marketing mentality. 5. Define an always-on, inbound marketing approach that produces more efficient and effective marketing outcomes.
This article gives great advice on how to avoid marketing budget disasters, it covers the basics such as idenitifying the business goals, but it also gives advice on how to cover previous things that went wrong in the business and ways to ensure that it won't happen again. This article shows a simple but helpful step by step stragegy on how to avoid budget disasters, which could be effective to not only small businesses just starting but also larger businesses that have had issues within marketing budgets.
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