Number One: Realize that the game of marketing has changed, and new rules apply. If you do not know what these rules are and how to play, it means your odds of winning in 2010 are slim.
So what has changed?
- Marketing is now about an influential approach. It is not about selling, rather passively influencing your customers as to why your product, solution or service is the one they should consider.
- Social Media Marketing is here to stay, embrace it and weave it into your overall marketing strategy. Creating a siloed social media marketing campaign is a waste of time and money. Be smart and efficient and create a social media marketing campaign with this process in mind: Research, Build, Maintain and Measure.
- ROI (return on investment) - be able to answer the questions: What is the profit or loss per dollar spent on XYZ marketing campaign? How many leads were generated as a result of ABC promotion? How did our event strategy differentiate XYZ company against the competition? Gone are the days of budgets being allocated to initiatives without accountability.
- Differentiation is no longer just a water cooler topic, rather it is a reality in order for companies to survive. Create a Blue Ocean Strategy...think about Southwest Airlines or Cirque de Soleil, and how they competited in a saturated market yet created differentiators to exceed expectations and revenue goals. For more details, check out the book recommendation on "The Read List".
Remember as you are considering marketing planning for 2010, "The definition of insanity is doing the same thing over and over again and expecting different results". (Albert Einstein) Embrace the new rules, make the change and race far and ahead of your competition.
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