When designing a marketing strategy should you start where you want to be, or where you are?
If you’re a motivational speaker, you’re probably saying, “Start where you want to be.” If you’re a process engineer, you’re likely to say, “Start where you are.” If you’re a marketing strategist, you’re probably saying, “Yes.”
“But it’s an ‘either/or’ question!” they might remind you.
“True, but the answer is still ‘Yes,’” you would answer.
In sales and marketing, there must be a strong focus on goals and objectives, the “where you want to be”bit. “The Corporate Marketing Strategy is defined at a corporate level. It defines the overall marketing goals for the company. These general marketing goals drive more specific marketing strategies for each of the company’s business units or geographies,” says Marketing Strategy, book one of the SMstudy™ Guide.
Can the company meet these goals? The answer to this lies in the “where you are.” “The strengths and weaknesses of a company determine its internal capabilities to compete in a market and to fulfill customer expectations,” says the SMstudy™ Guide. “Strengths provide the company with a competitive advantage and weaknesses place the company at a disadvantage.”
“Start where you are” is one of the “Practitioner 9 Guiding Principles” identified by Axelos, the people responsible for publications coming from the Information Technology and Infrastructure Library (ITIL) of the British Home Office. These principles are designed to help IT practitioners succeed in an increasingly customer- and market-oriented service environment.
One of the key “Practitioner Guiding Principles” is “focus on value.” This is something marketing professionals know very well: their product’s or service’s value proposition. “All successful products or brands need well-planned marketing strategies in place to ensure that they satisfy the goals set by the corresponding Business Unit or Geographic level, and in turn the overall Corporate Marketing Strategy. Marketing Strategy is therefore one of the most crucial Aspects of Sales and Marketing. It defines a product or brand’s unique value proposition, target markets, and the specific strategies to be used to connect with defined audiences,” according to the SMstudy™ Guide.
Arriving at a value proposition involves identifying the target market segment: what are the people that make up this group like? What do they do for a living? For recreation? How do they spend their money? These are very similar to questions that IT developers ask and answer when creating personas for their end users and customers. How will they use this service? When will they most likely access it? What will it do for them? How much is this worth to them? The confluence of service development and marketing is becoming greater and greater.
With the decreasing time between product development and its “hitting the shelves,” it seems inevitable that marketing interests and elements would enter product lifecycles earlier. Which ties in well with “Practitioner Guiding Principle” number 8: collaborate. The real value that developers put into a product after conferring with marketing and management becomes the real value that the sales and marketing people communicate to the customers, who buy that value, take it home and cherish it. Everyone is working together and the world’s a happier place.
For more informative articles on Sales and Marketing, visit SMstudy.com.