Marketing plays a crucial role in a company’s development. It’s an art that requires skill and experience. To make it even more effective, a manager shouldn’t just stick to the initial marketing plan. They should redefine their marketing strategy based on evolving consumer needs, market trends, and unforeseen circumstances. But how can you make your marketing strategy more effective?
Customer/Business Analysis
KPMG presents, in collaboration with AFRC, an analysis of the strategic role of Customer Experience today, with the release of an unprecedented and multi-sector ranking of brand Customer Experience performance. “All customer experience leaders have one thing in common: they are obsessed with the customer.”
Deloitte, on the other hand, unveils the 2nd edition of the Customer Experience Drivers study. This customer satisfaction study, conducted with an international panel of 7000 clients, identified the main drivers of customer satisfaction in various sectors such as retail (non-food), banking, insurance, entertainment, consumer goods, transportation, telecommunications, and healthcare. Customer expectations are increasingly high in terms of responsiveness and personalized problem-solving. 69% of consumers believe that a personalized experience would positively influence their loyalty. Indeed, a customer who feels listened to and taken care of, regardless of the difficulty, is likely to find satisfaction in a moment of dissatisfaction and strengthen their bond with the brand. While digitization is an asset, it also presents barriers, such as delays in response times or follow-up on requests.
Customer/Business analysis is essential during the project conception phase. This step involves redefining the stakes, opportunities, and priorities to successfully carry out the project. It determines the company’s strengths to complement its weaknesses and determine the best possible marketing strategies. To ensure the reliability of the analysis result, it’s essential to recall the company’s marketing positioning as well as that of the client.
Determine Marketing Objectives and Redefine the Strategy
During the implementation of the marketing plan, the entrepreneur must determine objectives linked to the company’s strategic and financial goals. But more importantly, they must anticipate any potential obstacles the company may face during project realization, despite having already studied the marketing plan beforehand. To ensure the plan’s success, the manager must constantly redefine their marketing strategy to confront the competition.
Strategic Considerations
The redefinition of the company’s strategy must take into account priority actions and the most imminent risks. Remodeling the strategy doesn’t imply modifying the entire marketing plan. The entrepreneur should only modify elements that don’t align with the strategic and financial objectives of their project. According to the study conducted by Deloitte, converting prospects into customers is a decisive step. While elements like price or quality are crucial at the time of purchase, emotional elements such as trust, reliability, and security are also essential.
Enhance Marketing Activity Control
Control doesn’t only involve verifying the regularity of operations; it also aims to evaluate actions based on their characteristics. To ensure project success, the entrepreneur must optimize the most effective actions and eliminate those that don’t benefit the company. Thus, they must provide alternative solutions to address unproductive actions.
Innovate Your Strategy
Innovation becomes imperative for more effective marketing, allowing the company to properly address its customers’ needs. It involves integrating new marketing approaches (social networks, online community engagement, etc.) into the company’s marketing action plans. The entrepreneur can reconcile traditional marketing with innovations stemming from technological development to generate more results.
Innovation in Products and Services
The entrepreneur must have a certain level of creativity to meet consumer needs. Given the significant role competition plays in the market, offering customized, high-quality products to customers is essential to provide a better value proposition. The service provided must meet the expectations of even the most demanding consumers.
