People Innovation Excellence
 

THE STRATEGIC MANAGEMENT PROCESS (STEP 2 – TOOLS – PART 2)

This is the part 2 of Tools that contain 6th aspects from 11th aspects already mentioned in part 1. Here is the explanation:

  1. Copy Writing & Graphic Design
    These aspects are essential tools for supporting positioning and shaping a brand experience. There are some elements of brand that are defined by copywriting and graphic design; Logos and corporate identity, Product packaging, Websites, Interior and exterior signs, Campaign message and creative (from websites, television, email, social media, and others). The following is the steps:
  • Identify the strengths of the resources
  • Create a project timeline for each marketing piece
  • Determine what content in the piece
  • Use a creative brief
  • Establish criteria for the designs
  • Pay attention to proofs and the press check
  1. Vendor Selection
    This aspect focuses on some marketing leaders when designing strategies and carefully managing outsourced vendors that handle execution. Some vendors can be very helpful creating strategies in their areas of expertise, so it’s important to have a strong understanding of your goals before engaging a vendor on a big project. This following is the steps:
  • Define the needs and timeline
  • Identify and analyze vendors
  • Create your Request for Proposal (RFP)
  1. Recruiting
    The simplest way to build team, department or company with good people who will represent your brand is to have well-defined recruiting program. Getting the right people aboard directly affects the execution of brand strategy. Talented people help company to shape strategies and managing execution. This following is the steps:
  • Share brand guidelines with entire leadership team
  • Define the position
  • Write a compelling ad
  • Cast a wide net
  • Follow the process
  1. Customer Relationship Management (CRM)
    CRM is important tool to managing customer relationship and information data. That can use to produce some important report as revenue projection, tie revenue, activities of sales, marketing campaign, etc. This following is the steps:
  • Analyze the needs
  • Evaluate and compare CRM software
  • Implement and monitor system
  1. Customer Lifetime Value (CLV)
    CLV is the amount of profit that a customer delivers to the company for as long as the customer buying from the company. It’s typically calculated as the net present value of the profit that you’ll earn from all of a customer’s purchases over time. This information is helpful when evaluating your market segments to determine which are the most profitable. This following is the steps:
  • Confirm the CLV formula
  • Determine customer segments
  • For each segment, determine how long an average customer stays with you
  • Calculate the CLV for each segment
  • Use CLV to improve acquisition and retention marketing
  1. Return of Investment
    ROI is a measure of the profit earned from each investment. There are some basic formulas that can be use:

Understanding ROI help to improve ongoing companies. You can compare ROI and focus on the version with the best performance. ROI can be heavily influenced by the strength of brand and pricing. This following is the steps:]

  • Confirm the ROI formula
  • Establish an ROI threshold
  • Set marketing budget
  • Calculate ROI on campaigns; track and improve the results

SOURCE:
Moderandi Inc., 2013. The Strategic Marketing Process. 2nd ed. s.l.:Marketing MO.


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