The world is changing now perhaps faster than ever. Marketers need to be able to move quickly and be able to innovate and build best marketing practice. Here are my top 5 tips for 2010
- Create networks, work with customers, suppliers, employees and yes competitors. Companies such as Procter and Gamble have used this approach successfully to develop new products.
- Innovate. Don’t just think product and look at how you communicate and develop the range of marketing tools. See the earlier post about the new Fiesta
- Be clear about your position in the market. That means you need to chose who your customer is and who you are competing with. Are you offering total, expensive solutions or streamlined and stripped down. You can make a business from either but be clear if you are the luxury chocolate maker or a volume business like Primark
- Brand is key and think that everything your business does, builds that brand. Brands are not just the communications, logo etc it is the quality of the experience, the staff are a key part of building that brand. Make really good use of the best assets of the business. John Lewis is a good example of the partners delivering the service
- Co-creation, where consumers build the product is a key trend. U Tube is a good example but means that the business has to let the control move to the consumer and that can be risky.
Hope these insights into marketing practice offer a few ideas for your business. Let me know if you can add any more.