Finally got around completing this case study. Too long to publish as a post, so I have to refer you to my article library, Web redesign case study but in a nutshell the big findings are:
Marketing plans sometimes mix up the differences between mission, vision, goal, objective, strategy, strategic intent and tactics. Strategy in particular seems to be problematic.
In its simplest form, a strategy articulates how you’ll achieve your objectives and how your distinct tactics are connected. So for example if your objectives (SMART) are to lose your weight by 10 pounds and run a marathon by September 1st, your core strategies might be exercise and diet. Simple enough, but it doesn’t really give you enough details to understand if the chosen strategies are even realistic (suitable, acceptable, feasible) to begin with, and exactly how you’ll go about implementing these. Therefore, instead of thinking of strategy as a “fixed thing”, it should be thought as more like a process. If we accept that strategy is a process then we can identify the following phases of a good strategy. Research, segmentation, targeting, competitive analysis, positioning, goal setting, strategy selection, communication of goals, agreement on implementation, performance monitoring, gap analysis, alternative strategies selection, actions and strategy revision. Tightly connected to strategies are core competencies and critical success factors (CSF). Core competencies can be understood as the competencies available in support of a chosen strategy and the CSF’s are the critical few competencies that must be in place to even have a chance for success. There are many types of strategies but in current literature sources it’s often quoted that the key to a successful marketing strategy is focusing, positioning and differentiation, with the objective of focusing organization resources on the opportunities providing the greatest return. The key to a great marketing strategy is often innovation. The more innovative your strategy is, the better the chances are that it will provide you with a short or longer term competitive advantage.
Why doesn’t marketing work? Why is marketing in such a mess in many companies? Why does companies that claim they’re marketing and customer centric, end up in trouble? Have you ever wondered why? Here’re a few.
In many companies marketing doesn’t have a place at the C table, and therefore, doesn’t get heard. You would think that the other people could represent marketing, and they might be able to on some level, but when it comes to deep understanding of marketing and customers, being a generalist often isn’t enough.
Everyone is a marketer. Sometimes people that do marketing, or are appointed to marketing positions have little or no formal marketing training. Being streetwise and learning on the job is good, but nothing can compensate for a marketing mind. You wouldn’t have a surgeon without formal qualifications operate on you, would you? You wouldn’t appoint a marketer to key position in human resources or financing would you? (there are exceptions).
Lack of an outcome based marketing. Some marketers only provide fluff, with no metrics and very little accountability. Activity based marketing does more harm than good to the marketing profession.
Marketing doesn’t control the message anymore, the customer does? Social media have put the customer in control and everything upside down compared what it used to be. In addition with all the choice, no one can manage it all. Companies are struggling to make sense of it all, and deploy the right resources in the right places. Marketing is truly becoming everyone’s job, and that calls for guidelines and governance, but at the same time letting go of some of the control and moving towards transparency, risk taking and empowerment. Not having enough marketing minds around, doesn’t help either.
Companies don’t walk the talk. Customer intimacy, customer loyalty and customer retention are all familiar concepts, and many companies practice these disciplines, but how many companies truly understand the customer LTV, and how many really put the customer first, even before profit, short term, if there’s a long term gain? I believe that most of these types of marketing programs have never really worked. They might have appeared to work, but only because there were enough customers and business for everyone. Not anymore. The biggest scarcity in business today is availability of customers.