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Metrics

Connecting Marketing Metrics to Business Performance


The C-suite has set its sight on the black box of Marketing making it imperative that Marketing professionals and executives shed their “intuition-driven” decision approach and demonstrate accountability through appropriate Metrics. A recent CMO Council survey revealed few firms collect the Metrics required to justify substantial Marketing investments, and nearly 40% of respondents were dissatisfied with their ability to measure. The CMO Council reports ìcompanies with a formal comprehensive marketing performance management system significantly outperformed companies that had not even entered the consideration phase with mean performance ratings 29%, 32% and 37% better in relation to sales growth, market share and profitability respectively. VEM’s Connecting Marketing Metrics to Business Performance provides a framework that enables Marketers to move beyond merely tracking activities. The program based on a mapping process provides skills for developing and deploying key Metrics that demonstrate the impact of Marketing at your firm. Participants will grasp the Marketing Metrics framework, suggested Metrics and key performance indicators through discussion and group work.


Foundations

Introduction to Integrated Marketing


The American Marketing Association defines marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. Introduction to Integrated Marketing presents and defines core marketing concepts and terminology. Participants learn the foundational concepts for creating an integrated marketing presence within their company. The four functions of marketingóStrategic, Product, Communications, and Tactical Marketing–are reviewed within a real world, applicable context, as well as the roles and responsibilities of Marketing within an organization. Participants will be able to differentiate between a product, sales and market-centric approach.


Customer Retention: Satisfaction, Loyalty and Advocacy


Customer retention makes good business sense because it is one of the best defenses against a sour economy. Research suggests a two percent increase in customer loyalty has the same bottom-line effect as reducing operating costs by 10 percent and loyal customers are seven percent to 10 percent more profitable. But which customers should you focus on retaining? The cornerstone to customer retention is customer segmentation. This program introduces participants to customer retention: loyalty, satisfaction and advocacy. Participants will learn methods for developing effective loyalty strategies. Concepts will be incorporated into exercises designed to encourage participants to include customer-centered components in their marketing efforts. Methods for retaining and growing profitable customers will be covered, with a focus on teaching marketers to discern their most profitable customer segments. Participants will learn metrics for measuring customer loyalty and will understand the elements of customer retention: satisfaction, loyalty, and advocacy.

Business Intelligence: Research as a Requirement


Accurate and timely information is the lifeblood for making business decisions. Good information provided through marketing research helps companies improve the quality of their decision making, trace problems, provide focus and insights into an ever-changing marketplace. Business Intelligence: Research as a Requirement presents the importance of gathering Business Intelligence, the role of market research, market research steps and gathering competitive intelligence. The program presents the difference between primary and secondary research and addresses research design.



Product Marketing

Product Marketing


Some researchers assert that new product failure rates are as high as 80-90% in mass consumer packaged goods and as high as 20-30% in business-business goods. So many things can go wrong in launching a new product. Successfully launched products share a number of common factors: they are developed and marketed with profitability in mind, they are right to market, and they are adequately marketed.


The program provides an introduction to the Product Marketing process. Participants will gain the knowledge, understanding and skills necessary to perform key product marketing tasks. An understanding of the P’s of Marketing, the role and responsibilities of the product marketer, product lifecycle, adoption rates, and the key marketing roles at each stage of the process is provided.


The program also provides the knowledge, understanding and skills necessary to perform product launch tasks. In an interactive environment, participants will explore launch elements for a successful product rollout, strategies, and tactics for generating demand for the new product. The session will also provide methodologies for linking marketing efforts with sales goals.


Analyzing and Selecting Market Opportunities


Determining the right target market is a key starting point for marketers. This program examines market segment characteristics, segmentation criteria, business market segmentation approaches, and target market strategies. Participants will have the opportunity to define segmentation criteria and evaluate segments based on the criteria.


Strategic Pricing Principles

This program is an introduction to pricing strategies. Participants will explore the various strategies for new products and services, changing the price of existing products, and discussion of traditional and modern pricing strategies, tactics and research methods. Pricing alternatives, their benefits and ramifications will be explored. The steps to determining the appropriate pricing strategy for your organizations through analysis, positioning, channel marketing and segmentation intelligence.


Strategic Alliances and Channel Marketing


A marketing channel is a business structure of inter-dependent organizations for the purpose of moving products from their point of origin to their final consumption destination. This is different from a strategic alliance, which is when businesses create a cooperative agreement to leverage what they do well by partnering with others who have complementary expertise. This program explores the various common marketing channels and approaches to strategic alliances.


Participants will also learn about the Corporate Life Cycle, and how to determine their companyís place within that life cycle. Strategic Alliances will be covered by type, with an emphasis on qualifying criteria, benefits of different alliances, and how to design an alliance strategy that fits into an overall business strategy. Finally, the course looks at considerations for channel marketing strategies and how to determine your companyís channels.



Strategy

Marketing Strategy


This program is organized to provide participants with an introduction to strategy, marketing strategy alternatives, and a differential competitive advantage. Participants will assess their differential advantage index, begin developing a SWOT and explore selecting a marketing strategy that will produce mutually satisfying exchanges with target markets.


Brand Strategy and Positioning


The success of any business depends on its ability to distinguish itself and its products/services from each other and those of competitors. Branding is the main tool marketerís use to distinguish products/services and companies from the competition. Companies create a brand strategy for three main purposes: identification, repeat sales, and new product sales. A well-executed brand strategy enables a company to build brand equity, an important asset for any company. This program explores brand strategy, brand loyalty, and various branding strategies. Participants will develop their promise and positioning statement using a value pyramid.



Services Marketing

Services Marketing


The U.S., as well as much of the world economy, is dominated by services. In the U.S., approximately 75% of the labor force, 70% of the GNP, 45% of an average familyís budget, and 32% of exports are accounted for by services. This program addresses the distinct needs and problems of service organizations in the area of marketing. This program will also suggest ways that firms in the manufactured goods sector might use ìserviceî as a primary source of competitive advantage and will help participants gain an understanding of services marketing issues.



Revenue Creation

Aligning Sales and Marketing


This course provides concepts and best practices for successfully aligning Sales and Marketing to ìwork the pipelineî to maximize profitability. By identifying incremental behavior commitments of the buying process, different stages of the buying cycle are identified and then mapped to revenue generation stages. Participants learn the components of a buying pipeline as well as techniques for managing the pipeline developing marketing and sales strategies and tactics to move prospects through the pipeline.


Promotion Decisions


This program takes a look at the role, goals and tasks of promotion and the factors that affect the promotional mix. Participants explore the effect of advertising (media, collateral, events, etc) on the market share, the role of public relations, and the objectives of sales promotion and personal selling as part of the demand generation process.
Marketing and Sales Alignment — A Critical Success Factor


For companies that operate in dynamic business environments where costs are often growing faster than revenues, there is more competition and customers are more demanding. As a result, many CMOs and CSOs are now facing some hard realities. Sales people are missing their quota and as much as 90 percent of sales opportunities do not close as forecasted. Too many new product launches and marketing programs fail to meet expectation. The tough business climate requires improved effectiveness from the two primary revenue generating arms of the business — sales and marketing — making alignment between Marketing and Sales more important than ever.



Planning

Creating a Successful Customer-Focused Strategic Marketing Plan


Planning is the process of anticipating future events and determining strategies to achieve organizational objectives in the future. Marketing planning is about designing activities related to marketing objectives. Planning serves as the basis for all marketing strategies and decisions. A strategic marketing plan addresses product, distribution, promotion, pricing, positioning and promise and serves and the organizationsí blue print for action. The program reviews the components for creating a successful marketing plan and provides a template for creating an effective strategic marketing plan.


Strategic Planning for Profitability


This two-day work session is designed to help organizations produce a strategic plan. The components of a strategic plan are presented and participants develop a set of measurable, quantifiable objectives for the next 12 months that will allow the organization to achieve its mission.



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