Concentrate on a more holistic understanding of marketing performance
In the past, marketing effectiveness was primarily a function of effective brand building, but building strong brands is only one aspect of an effective marketing formula. Organizations must also find ways to use their marketing budget effectively, execute marketing processes efficiently, and increase customer empowerment in controlling when, where, and how they interact with brands. Marketing is effective when a sound strategy development process is applied to capture identified market opportunities, resource allocation follows strategy, and the organization is aligned and equipped with the right tools and processes. Every marketing investment needs to have a role and purpose within the marketing plan.
As competitors become more aggressive and nimble, the marketers’ performance will not only depend on the ability to preserve and maximize brand equity, revenue, and profit, but also on the ability to effectively manage costs. A structural approach to cost management, - compared to conventional, continuous, incrementalimprovements -, is a productive way to discover meaningful and sustainable efficiencies, without sacrificing effectiveness. In structural cost cutting and resource re-allocation, everything in the marketing function is fair game in an attempt to find efficiencies. Identifying improvements through a strategic review enables an organization to achieve more substantial savings, while redirecting resources from ineffective activities to (strategic) growth-generating actions, e.g. new product development.
NOOTABEENE works with clients to translate organizational goals into executable marketing strategies, plans and actions. We build the required operating models and develop the underling capabilities, ensuring shared understanding between marketing and the functions they collaborate with. In addition NOOTABEENE supports clients with a strategic review of the marketing effectiveness and efficiency. Because NOOTABEENE’s structural approach prioritizes improvement opportunities by size and immediacy, it exposes initiatives that are relatively easy to implement and quickly produce meaningful results. NOOTABEENE’s service offering covers all opportunity areas that drive the level of marketing effectiveness:
• Marketing strategy and marketing planning
• New product and services development
• Brand and product portfolio rationalization
• Marketing and media mix optimization
• Marketing spend sourcing
• Price setting and execution
• Trade Promotion Management
• Proposition development
• Trade spend management
• Marketing infrastructure
• Marketing organization review and alignment
• Marketing Resource Management
• Shopper marketing strategy and execution
Review your marketing strategy and management processes on common pitfalls to decide if NOOTABEENE’s support is required to optimize marketing effectiveness:
• Do all brands and products generate an acceptable return on investment?
• Is marketing spend aligned with the most attractive opportunities and effective media?
• Is known to what extent the marketing mix spend is productive?
• Is the media allocation aligned with the target customers?
• Are the critical customer touch points known?
• Is agency compensation aligned with performance?
• Are the marketing campaigns customer-centred rather than product-centred?
• Is entitlement to incentives and rebates build into contracts?
• Is the contribution of each program to account and business objectives quantified?
• Are the marketing programs synchronized with other commercial activities?
• Are propositions with little to no effect on customers eliminated?
• Is the marketing organization structure effective considering market realities?
• Is measured which activities impact customers and generate demand?