Why you need to Align your Marketing with your Business Goals
Marketing aligned with Business Goals? Duh! I hear you say. Isn't this chapter one in the Basics Books of Marketing? You would be surprised how many companies are pulling their hair out wondering why they have these low Return of Investments (ROI) and disappointing stats (read: eDMs stay unopened, posts are getting little to no likes, traffic is dropping and ultimately sales are down) ... Why are things not working the way they used to? You are spending so much energy and money on different resources, but there appear to be little results... So what is the solution? This is the time where you need to go back to basic and ask yourself two fundamental questions. This might seem a little obvious to start with, but this is often why and where marketing fails and marketing (and business) results are disappointing. 1. What do your customers need? 2. What are you offering? If these two factors are aligned, strategic communication and implementation will have a viable foundation. In Marketing terminology this is called 'alignment' - the process of creating marketing that is properly aligned or in sync with the target audience and the overall company gaols and strategic objectives. In short; your marketing strategy is based on your business goals and build around your customer.
Investing in Marketing Alignments means you avoid wasting time and money on inefficient practices and instead invest in effective marketing practices that lead to increased ROI (Return of Investment) and YoY (Year over Year) revenue growth.
The benefits of Marketing Alignment are plenty: reduced costs, less inefficiencies, improved outcomes (up to 32% increase in YoY revenue growth) and up to 91% less waste of potential ROI on marketing investment.
Marketing Management is a cross-functional discipline that should always works together with all departments to understand and serve your customers better. It is a journey and it requires ongoing maintenance to stay current, especially in today's rapidly changing digital landscape. What works now might need to be revised in 6 months or even 6 weeks due to economic, social, political or technical changes in the market. A current Marketing Plan is fundamental in recognising and uncovering the key elements that need to be addressed in the process of Marketing Alignment. Stay tuned for the following blog about "How to develop a Marketing Plan, the essential check list".
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