TEN COMMANDMENTS OF SUCCESSFUL MARKETING

Marketing is very complex function unlike other Co's various departments as this interacts with unknown persons outside the Co to achieve the objective who may or may not agree to your S&P specially in non exclusive business/Trades like Auto-Component industry.Marketing professionals are always on their toes since various tasks/ business approaches keep on changing and now more faster in the uncertain and non predictive environments.  

40+years Experience of my successful assignments starting from being front line sales persons to now Growing to Mentor Position of helping to develop successful strategies have convinced me that Fundamentals knowledge of the customers elements like their experience of buying and expectations, understanding their behavior of personal likes/dislikes , ROI of Marketing Activities are must do for every successful marketing across any business environments and any industry segments. 

I am convinced that following "TEN COMMANDMENTS OF SUCCESSFUL MARKETING"must be considered by all professionals for successful marketing.

1. Identifying Ever Growing Customer's Expectations.

2. Understanding Customer Behavior.

3. Creating Standout Marketing Activities 

4. Creating the Differential - USP in Product/Service

5. Identifying the Actionable Data

6. Accepting Limitation of Time resource.

7. Ensuring Budget Optimization.

8. Maintaining the Speed of Actions.

9. Continuing to Identify New /Potential Customer.

10.Reporting ROI of Marketing Activities

1. Identifying Ever Growing Customer's Expectations-

   Due to free availability of Internet, Customers are gaining abundance of knowledge abo ut products, services, technologies etc This is leading to building of more and more expectations from existing and new brands /Companies. 

Steps suggested to meet such challenge can be personalized engagements and customized service.

2. Understanding Customer's Behavior-

   Customer's Trust is on decline and Brand Loyalty is coming down with generation next , it is therefore important to understand the basis of customers choice and the reasons of his decisions.

   Steps suggested are Engage with customer, Acquire the loyalty and regain the Trust. 

3. Creating Standout Marketing Activities-

   Due to very active social medium, sms, mails, blogs, pop, and print media and availability of multi-brand product/services activities are highly crowded to the extent that these go unnoticed.Challenge is to get brand noticed better than the competition. 

   Steps suggested to meet this challenge is to initiate Customized services, Innovative engagement also involving customers family 

4. Creating the Differential -USP in -Product/Service-

   Customers expectations can be met only if we know the customer and their needs, and what is their Decision making process.

   Steps suggested to create differentials are Highlight the Value addition , Be Close to Customers, Become Solution Provider

5. Identifying the Actionable data-

   In present world there is no dearth of data on any product or subject , however it is felt that too much data can be a dangerous trap and become unproductive to take correct decision or formulate the right strategy. We therefore need compact data about the customer or product or geographic location which can facilitate the decision making process.

   Step suggested are to always ask or seek customized data of your problem. eg for component potential we need the data on vehicle population, product life cycle, working conditions.

6. Accepting Limitation of Time Resource -

   Time is always limited and Companies plans are time bound specially when you are developing and launching any new products or new technology because of defined budgets.Challenges are to meet the objective with in time target defined there fore it is limited resource .

   Steps suggested are to prepare in depth plans with defined milestones and time targets with provision of plan B if the original plan fails to optimize the give time resource.  

7. Ensuring Budget Optimization-

   After the financial budgets are finalized then Co's Top lines and bottom lines are projected accordingly . Therefore Budget becomes important to optimize to conduct flawless operations

   Steps suggested are to create immaculate plans with micro parameters and review of each milestone wise budget utilization to correct subsequent spending if so required.

8. Maintaining the Speed of Actions-

   In the present fast changing world it is not only the correct or right strategy , but it is the speed of correct implementation required for successful marketing .Its like Justice delayed is Justice denied .

   Steps suggested are to make each marketing plan with time targets for each mile stone with in the overall plan of start to finish. Milestone wise review is must for the success..

9. Continuing to Identify New/Potential Customer -

   Generating the new customer or lead is the most important task for Marketing team to increase the market share and Co's top-lines.

   Steps suggested to to find new customers are Analyzing feed back from end users, Seeking referrals, updating on changing economic parameters and watching dissatisfied customersof Competitors, Identifying new investors ready to diversify the business.

10. Reporting ROI of marketing Activities-

   In present Competitive Environment, it is required that every penny spent in conducting marketing activity should lead to revenue generation, sales growth and improving business performance to build the trust of management and loyalty of customers .

   Steps suggested are that Actual Achievement /Performance vs Plan of each marketing activity, Strategy should be reported to Management to gain the confidence .

Hope all the above Commandments will become Must to Do for Successful Marketing .

UKJ.