exercise 5 header

The-Marketing-Accelerator-5-1200The Marketing 360 is The Marketing Centre’s comprehensive approach to help you evaluate every aspect of your marketing and identify areas that are in need of a rethink.

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The full Marketing 360 tool can be found here. For the purpose of this exercise we will limit our focus to the four core pillars of marketing

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Define:
Know what your potential customers look like, and what your product or service can do for them.


Find: Identify ways to target them,customers based on their behaviour and habits.


Win: Devise strategies to close sales and create customers.


Keep: Monitor customer churn (loss) loss and create retention activities to remedy it.

 

To complete this exercise, answer each of the questions in the following four sections. 

Keep your new strategic initiatives in mind as you answer them. This will help you understand whether your marketing is able to deliver your initiatives and what you may need to change.

Communication Tools-1If you identify aspects of your marketing that need to change but you’re unsure how to start, our part-time Marketing Directors can help. Get in touch now to book a free one-hour consultation over the phone.

 

1 - Define-New-500Define

As the saying goes: “no plan survives first contact with the enemy.”

It’s likely that your existing marketing plan will need to be reviewed to support your new initiatives.

Here are a few questions you can ask yourself to understand whether your brand, propositions, comms plan and partners are still fit for purpose. 

For each question, try to answer with a ‘yes’, ‘no’ or ‘maybe’:

  • Does our brand proposition need to be refined or updated?
  • Do we have the customer, competitor and market research to support our new initiatives?
  • Are there financial targets and forecasts for the new initiatives?
  • Do we need new marketing channels or routes to market?
  • How have our target markets or customers changed?
  • How does our messaging need to evolve?
  • How can we tailor our communications plans to the situation?
  • Do we have all of the skills we need within the team?
  • Do we need to review our agency partner relationships?
  • Is our website fit for purpose?

Find-New-10002 - Find

Once you’ve laid the groundwork, you need to start generating demand and creating opportunities for your sales team to convert.

Here’s a list of questions you can ask yourself to understand whether you need to update your lead generation processes or the technology you use:

  • Are we able to generate sufficient leads to meet our growth objective?
  • Do we need to make changes to our existing routes to market (eg Events)?
  • Do we have the team and resources that we need to support our proposed initiatives?
  • Does our CRM and contact data sufficiently support our prioritised initiatives?
  • Have we noticed a drop or an increase in engagement levels with our marketing activity? 
  • Does the way that we use our website or social media need to change?
  • Does our website and social media approach sufficiently support our prioritised initiatives?
  • Should the initiatives be piloted before full roll-out?

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3 - Win

Generating leads is one thing, converting them is another.

Here are a few questions you can ask to understand whether you need to update your sales processes, how you measure success and the steps you take to remain compliant:
  • Do our sales materials need to be updated?
  • Are our sales and marketing teams in alignment and working well together?
  • Do we have a pricing strategy for our new initiatives?
  • Have we got marketing KPIs to support our new initiatives?
  • Do we need to revise our marketing budget?
  • Do the objectives we set our agency and support partners need to change?
  • Is there any new legislation that we need to respond to or be aware of?

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4 - Keep

Finally, let’s look at how well you retain customers and whether you make the most of opportunities to cross-sell or upsell.

Here are a few questions that will help you understand whether your customer retention processes need to change:

  • Are we identifying at-risk customers and taking steps to retain them?
  • Have we identified our most profitable customers and made a plan for them specifically?
  • Do we need to review our pricing to optimise profitability?
  • Do we have a mechanism to measure customer satisfaction for our new initiatives?
  • Can our customers communicate with us in a way that is best for them?

Having explored your potential new initiatives in a little more depth, do you still think they are the right choices?

Time spent considering this thoroughly now will increase your chances of successfully launching your new initiatives and achieving your goals.

 

 

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The exercises in this guide will have helped you understand your wider context, where the opportunities are and whether your marketing is set up to support you. 

You now have the beginnings of an action plan - but remember, a plan is only useful if it's effectively implemented. 

To make it actionable, you need to decide who is going to do what and when, then have regular reviews to hold people accountable for their progress. Plans are important, but only if they are executed.

Return to overview

 

SupportAt The Marketing Centre we believe that marketing is a strategic activity that helps your business grow and respond to change. If you feel like you’d benefit from some experienced marketing support, book a free one-hour consultation with one of our part-time Marketing Directors

 

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