Why Most Marketing Plans Fail & 9 Ways to Succeed with Yours

This Monday is Memorial Day in the US, when Americans everywhere think back to those in the US Armed Forces who gave their lives in the line of duty. I too am thinking back, but to all the marketing plans and ideas that have been sacrificed!

The reasons why some plans are accepted and others aren’t are many. Non-alignment with corporate plans is one of the most usual, but lack of clarity, consistency, preparation or budget are also common. And even when accepted, they aren’t always executed as planned. So I thought that it would be useful to take a look back at our own marketing plans that we set earlier this year and review what is and isn’t working. We still have time to make changes and meet our 2014 targets, so which of the following is your current issue?

Declining market share

Firstly, you should be ashamed that you’ve let your br and slide so much that you are actually losing share! Br and equity measures would have given you a clear warning that something was going wrong, months if not years ago! Did you ignore the numbers or were your efforts too small to have the necessary impact? Either way, it’s time to start working out what’s going wrong. Review the 5P’s of marketing for starters and prioritise actions based on what you find.

Stable market share

So your br and’s growth is slowing? This happens in the normal life-cycle of a br and, so no panic, but you do need to take action to renew growth. But don’t think that small tweaks will be enough. Competition is ruthless these days and you will need to create some buzz around your br and. Surprise and delight is the name of the game to win (back) consumers. Start from your strengths and then ramp one or two of them up a couple of levels.

Declining image

As mentioned above, your br and image will start to weaken before market share is affected (>>and%20image%20will%20start%20to%20weaken%20before%20market%20share%20is%20affected%20%20[tweetlink]” target=”_blank” rel=”nofollow”>Tweet this<<), so in theory you still have time to prevent significant share loss. But you must act now! It is more effective to review your image ratings by experience group, to see what you need to do to recover lapsed users or convert more trialists. In my experience the answers should be clear from a regularly run and thoughtfully analysed br and image study using a well-developed attribute list.

Losing consumer trust

This is a serious issue. (as if the others aren’t!) Trust in companies and br ands is what enables consumers to forgive mistakes or accept higher prices. (>>and%20br ands%20is%20what%20enables%20consumers%20to%20forgive%20mistakes%20or%20accept%20higher%20prices%20%20[tweetlink]” target=”_blank” rel=”nofollow”>Tweet this<<) And it tips the balance in your favour in product comparability when performances are similar. Trust is a complex principle built out of a number of influencing factors, such as integrity, reliance, confidence, quality and worthiness. Which of these has resulted in your consumers’ loss of trust? Once identified, you will need to review how you can influence it. Continue Reading

8 Things CEOs might question about your Marketing Plan: And how to Answer them

All marketers create a marketing plan and work to achieve the growth mentioned in it. It takes a lot of time and effort to develop the plan, and even more to get it approved by management.

The annual parade of brand-plan presentations is a reality in most companies. Marketers all breathe a sigh of relief when it is over and they can get back to their beloved day jobs, that of supporting their brands.

Worried marketer answering a marketing question

However, management doesn’t always allow a marketer to get off that easily. They can just as easily spring an “innocent” question when passing them in the corridor or socialising at a company event. If you can answer the CEOs question to their satisfaction, you will shine in their eyes. Provide an incomplete or worse still no answer, and they might wonder if it isn’t time to restructure the marketing group.


So, here are eight of the most likely questions a CEO may ask and how you should answer. NEVER say you don’t know, but also never drown them in a long-winded answer. Neither response will win you brownie points. Make sure you have an answer like those proposed below and your name might just be on the next list of promotions.

1. Who are our brand customers?

There is far more information needed than just age and gender, to answer this question. Prepare a short description (often called a persona) of a typical user, in the same way as you would describe a friend. See “13 Things your Boss Expects you to Know about your Customers” for further details on what you should already know about your customer.

ANSWER: Our customers are middle-aged women, whose children are in their late teens or early twenties. She shops in local supermarkets and gets advice from  friends on Facebook, about the best br ands to buy and what’s on offer. She’s been buying our br and for over two years because it satisfies her children’s hunger when they get in from playing sports. That makes them happy and she then feels proud of being a good Mum.

2. How much are our customers worth to us?

Marketing plan question about valueBesides having an average lifetime value in your head, you should also be able to provide information about your customers’ perceived value of your br and.

ANSWER: On average each customer spends about XXX (Dollars, Euros, Renminbi, Rupee, Real) each year on our br and, which is about YYY over ten years (lifetime value is rarely calculated further out than this). Our current average price in-store is ZZZ, but 70% of our customers thinks we’re actually worth more.

3. What return on our marketing budget are we getting?

Whilst ROI is not the best measure of marketing’s impact (see this Forbes article for more on that), you still need to answer the question. The answer to this could get very complex if you go into too much detail, so keep it simple. Say what your total budget is, how much you spend on advertising and promotions and what impact that has had on sales, in total. Continue Reading

Why Implementing Global Creative is Risky

We are pleased to share with you another guest post from C3Centricity partner PhaseOne, our communication experts. This week Terry Villines, their SVP speaks about the challenges of taking campaigns global.

Why implementing global creative is risky:  5 market factors must align. If just one of them is off, the entire initiative will likely fail!

Most major, global organizations have tried it – attempted to use the same creative around the world, across markets.   Coca-Cola has tried it, so has Procter & Gamble, Unilever and even luxury brands like Rolex and Patek Phillipe.

The argument for implementing a creative campaign on a global scale is strong.  When it works, it saves money (a lot of money); it provides br and stewards with a high level of control; it also ensures consistent implementation of a brand strategy with no wavering.  And, when it works, it can work BIG – take for instance Unilever’s Dove brand and their Real Beauty campaign from a few years ago.  This global work beat the odds and changed the way people think of beauty and changed the way we as advertisers communicate about beauty.

But what about all those cases where it doesn’t work?  Why does a campaign with a strong launch in Italy not work in the UK?  What about those powerful US ads that when taken to Europe, Asia or South America fall flat?  In examining case after case it becomes clear that there has to be almost precise alignment across 5 different market factors for a campaign to be successful across markets – if even one of them is off, the campaign and its investment are lost.

#1. Your Brand’s Equity

Does your target audience think about your brand the same way across all markets — do they have the same associations?  Do the br and’s values and its personality resonate at the same levels across all markets?  If so, then you are one step closer to having confidence global creative will work.  But, if awareness is high and attitudes are strong in one market and they suffer in another, then there is a high level of certainty that the same advertising will not work in both markets.

 

 #2. Your Brand Market Share / Market Position

Do you have consistent market share in each and every market in which you compete?  If you do, you are one of a very rare breed; however, it is much more likely that your market position varies.  Whether you’re a strong leader with few challengers working to grow the category and hold market share, or a challenger against stronger brands trying to steal market share, it is almost impossible for the same kind of creative and messaging to work across all of these situations.

 

 #3. Competitive Actions

In examining the competitive environment, a number of variables must be considered.  How many competitors are there? – very crowded categories require different actions than less crowded categories.  What is the level of spend by competitors? Continue Reading

I hope you enjoy reading this blog post.

If you want me to catalyse your growth and profitability, just book a call.

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