Archive for the ‘Strategic Planning’ Category

Our Top 3 Marketing Communications Resolutions for 2019

Monday, December 31st, 2018
The word New Year's resolution written on the blackboard with blank notesAs the New Year approaches it’s time to begin thinking about New Year’s resolutions. I’m pretty goal oriented and actually love this time of year–it’s always fun to look forward to new possibilities and make new plans for growth and achievement. I also believe that thinking about and committing our goals to some formal form (whether hard copy or online) serves to formally mark them in our minds and increases the odds that we will actually move forward to achieve them. Following are our top three marketing communications resolutions for 2019.
 
Develop a plan for 2019 and commit it to writing.
It doesn’t have to be a “fancy” or elaborate plan, but it’s important for businesses of any size to take the time to clarify their mission, vision and values, identify goals and measurable objectives, evaluate the internal/external environment, development strategies and tactics designed to leverage strengths and opportunities and overcome threats and weaknesses, and establish metrics to monitor success. I’m a strong proponent of strategy (hence the name of my company!) and the author of The Complete Idiot’s Guide to Strategic Planning.

(more…)

Please follow and like us:

Leveraging Big Benefits From Loss Leader Pricing

Thursday, September 27th, 2018

content marketing, content management, content strategy, strategic marketing, marketing strategically, strategic communicationsby Justin Grensing, Esq., MBA

At first glance, it might seem like a ridiculous strategy to price a product below its cost. Wouldn’t you just be losing money? While this is true, many companies do just that, and they do lose money. On that specific offering. This is part of a strategy known as loss leader pricing. As defined by Inc., “loss leader pricing is an aggressive pricing strategy in which a store sells selected goods below cost in order to attract customers who will, according to the loss leader philosophy, make up for the losses on highlighted products with additional purchases of profitable goods.”

A great example of a loss leader is razors. (more…)

Please follow and like us:

The Benefits of Being a “Fast Follower”

Thursday, May 31st, 2018

by Justin Grensing, Esq., MBA

The business world has a strong mythology around, and reverence for, the innovator – brilliant geniuses who upend the status quo and usher in a wave of change, making fortunes along the way. We often think that the first company to go down an innovative path is in an enviable position. But, in many cases, it is not the first mover who prospers, but the fast follower. (more…)

Please follow and like us:

Do You Have an Exit Strategy? Why You Should.

Tuesday, May 29th, 2018

by Justin Grensing, Esq., MBA

For many entrepreneurs, starting and running their own business is the culmination of their life’s ambition; the chance to be their own boss while doing what they love. But as an entrepreneur, is your goal really to continue your business for the rest of your life? Or to pass your business on to the next generation of your family? Or to simply let it fade into oblivion? The point is, unless you’ve taken the time to specifically think about the future of your organization beyond you, you really don’t have an exit strategy. (more…)

Please follow and like us:

Just Because You Can, Doesn’t Mean You Should!

Tuesday, May 8th, 2018

There’s an old saying that has been used to describe exceptional salespeople: “They’re so good that they could sell ice cubes to Eskimos.” The point being that Eskimos, living in a cold climate, really don’t need ice cubes, and are likely an audience that is going to be tough to crack. But, great salespeople could crack them.

Our perspective: Why? (more…)

Please follow and like us:

Value Trumps Price in Effective Marketing

Sunday, April 15th, 2018

In the world of sales and marketing, we often hear the terms “value” and “price” used interchangeably. Specifically, many people think that the lowest price option is the best “value” because it’s the cheapest. That may be true in the narrow context of commodities – $100 for X amount of ABC grain is a better value than $150 for X amount of XYZ grain, because for true commodities, there is no difference between ABC and XYZ brands. But for non-commodity products and services, value and price mean very different things, and marketers need to be aware of the difference. (more…)

Please follow and like us:

Should You Be Adding Messaging Apps to Your Marketing Mix?

Tuesday, November 21st, 2017

For the last several years, companies have become increasingly aware of the importance of social media in their marketing efforts. For many business owners and marketers, social media marketing largely supplanted directed marketing using traditional mail or email. Interestingly, the trend may be coming full circle as many marketers are now looking at using direct messaging apps in conjunction with their other social media marketing.

In an article for Entrepreneur, Alfred Lua discusses the growing popularity of messaging apps, advocates for incorporating these apps into online marketing mixes and looks at strategies to maximize their effectiveness. We’ve picked out a couple of his tips that might be most useful for small businesses. (more…)

Please follow and like us:

Best Practices for Correcting Potentially Costly PR Missteps

Thursday, November 16th, 2017

Public relations can be a tricky business. Issues can emerge very quickly and unexpectedly, and just as quickly become very public. Both experienced PR professionals, as well as non-professionals forced into a PR role from time to time, have to think on their feet, acting on both instinct and experience. Particularly in a lightening-fast communication environment, it’s not surprising that there are often mistakes made by PR professionals and others in the public eye.  (more…)

Please follow and like us:

Hiring Marketing Talent? Why Strategy Matters.

Tuesday, October 3rd, 2017

Hiring marketing or content marketing talent?So, you’re in the market for a strategic marketing professional. You’ve screened hundreds of applicants, and it’s down to the handful you’ve picked to invite in for interviews. But this is an inherently creative position, and cookie-cutter interview questions about an applicant’s past experience or about their evaluation of their own qualifications might not give you enough insight to pick the right man or woman for the job. (more…)

Please follow and like us:

Is Your Business at Risk From the Threat of New Entrants?

Thursday, April 20th, 2017

Any business school graduate has probably had a healthy dose of Michael Porter’s Five Forces, and for good reason. The framework is a great way to look at the competitive landscape. Porter’s framework is designed to look at the competitiveness of a particular industry, as opposed to companies within that industry. For example, you might use the framework to determine the attractiveness of starting a soft drink company, as opposed to investing in PepsiCo versus The Coca-Cola Company. We’ve provided a broad overview of the tool in the past, but we’ve recently been taking time to look at each individual force in greater detail. Today, we’re diving deeper in the threat of new entrants. (more…)

Please follow and like us: