Marketing objectives need to be SMART (Specific, Measurable, Achievable, Realistic, Time specific) and in line with the overall corporate objectives. They need to be developed to support the ‘big picture’ and ensure the corporate objectives are achieved.
Marketing is the core of an operating business. Marketing is the engine room that drives sales, and customers are the fuel that makes the marketing machine run.
No customers => No sales => No business
Marketing objectives in a changing landscape
We have a lot of big challenges ahead of us and we need to ensure our marketing strategies are customer-centric. How can you keep up with these changes?
Let’s listen to the following short video (only 2 minutes long) with Shelley Zalis, Founder & CEO OTX.
How can marketers keep up with changing consumer behavior?
Welcome to the ‘Age of the Customer’!
Customers are evolving and their behavior is changing at a fast pace. Having broad and fast access to resources, customers are more empowered than they have ever been.
Due to some of these dramatic changes in customer behavior, marketing and communications are facing an unprecedented series of challenges. The scale, speed and complexity of today’s landscape forces the marketing community to find new trends and more importantly new solutions to customer problems.
The company Incite Marketing and Communications (InciteMC) has released an excellent whitepaper to help businesses negotiate a turbulent period. The study is guided exclusively by feedback from the corporate community and as such is an independent, robust, original and business-critical collection of charts, analysis and forecasts.
Incite’s whitepaper includes:
- Feedback from over 1,000 senior marketing and communication executives.
- Detailed submissions from CMOs, CCOs and SVPs from brands like L’Oreal, Wells Fargo, Lenovo and MetLife.
- Trends identified for how to improve marketing objectives, and how to keep pace with changes in 2014 and beyond.
- A sceptical look at customer-centricity, and how large brands can realistically implement customer-centric theory without crippling complexity.
- Detail on budgets and how resource allocation will change as marketing and communications departments evolve and reprioritise.
You can download an advance copy of Incite’s extensive, 40+ page research-led briefing by clicking on the link below…
Interview with Marc Speichert, Chief Marketing Officer, L’Oréal USA [Excerpt from Incite’s whitepaper]
“I think it’s an exciting time for marketing, things are being transformed quite significantly. But it means that people need to think differently about what the future looks like, and equip themselves with the right skills.
It’s exciting, because the rise of digital has changed the relationship between the consumer and the marketing person. Those marketing executives need to understand how they can best impact that. And yes, it does mean that there are some things that need to be done differently.
If there’s not that realisation that things are changing, then maybe in a couple of years you will become obsolete. Because the marketing of tomorrow will not be the marketing of yesterday – things are changing and accelerating fast.”
6 Key Insights from Incite’s Whitepaper [facts ready to tweet]
I have pulled six key findings from Incite’s report that are particularly interesting. Stats below refer to answers from senior marketing and communication executives.
- 88% say they’re facing significant pressure to evolve.
- 88% say consumers have more power to affect brand than 5 years ago.
- 53% agree they need to be more closely aligned to customer, 39% strongly agree, and only 8% disagree.
- By a similar token, 76% say their multi-channel strategy (right place, right time messaging being a key component to aligning with customer) isn’t as developed as it should be.
- 71% say that customer interactions are the responsibility of many different teams (again, for a unified voice to deliver strong customer experience, this isn’t ideal)
- 95% say that multiple departments need to work better together to deliver this enhanced, unified customer experience.
What’s your biggest marketing challenge?
How does your marketing team deal with changing customer behavior? What are your top marketing objectives for 2014? Looking forward to your feedback in the comments below.