It is impossible to successfully market and sell even the best product or service in the world if the organization makes a mistake in the choice of channels. Especially as these decisions are not for the short term. Increasingly they involve strategic alliances and partnerships which are founded on trust and mutual benefits.
Over a period of time, in many markets, companies opportunistically build up channel assets and partnerships. However, as the business grows it becomes increasingly important to understand what the optimum coverage for the market is. Over representation (coverage) in a market can lead to fierce channel competition which can lead to margin erosion and price wars. Under representation (coverage) can lead to lost opportunities
Therefore, Channel Depth and Coverage are vital aspects that need to be measured to ensure that an organization is able to successfully implement its marketing strategy. First, because channels directly affect sales – are we reaching the intended customer through the selected channel?
Second, the channel serves as an important aspect of the product in influencing customer satisfaction. The standard of service that a client is exposed to plays a big part in relationship marketing. Choice of channel also affects profits and competitiveness. This can have an impact on cost competitiveness as well as profits since margins are squeezed by distribution costs.
Enfactum can help companies reach the optimum coverage levels to maximize returns in a market place, while ensuring channels find it profitable to work with the company.
Another variable which is becoming increasingly more critical in marketing are the implications of a changing media landscape. In most markets continuing influx of new and effective platforms means that a more complex array of media plans are available to the marketer.
Essentially now the marketer’s decisions revolve around choosing platforms that are more successful at engaging with consumers and delivering marketing profitability. Organizations want to know how to increase the odds of finding the optimal media mix to achieve marketing success.
This becomes even more difficult to achieve if the organization is entering a new market. Different countries have different marketing environments. One marketing tactic may work well in one country and may not work in other cultures. It is dangerous for marketers to import their assumptions from a market where they have been successful to a new one. At Enfactum, we utilize our extensive experience and understanding of the way media work together and the respective roles and effectiveness of each medium in motivating people to purchase products and services. We do this by using various analytical tools and integrating technology so that you get a very real picture of the realities on the ground and are able to make strategic choices.
Optimizing Marketing Spend
Marketing as an activity requires considerable investment of resources and finances. However, most organizations are unable to ascertain how much of their spending is actually netting results. At Enfactum we can give you practical insights to streamline your decision making by the use of measures like ROMI or Return on Marketing Investment.
Defined as the optimization of marketing spend for the short and long term in support of the brand strategy by using objective marketing metrics, improving ROMI leads to improved marketing effectiveness, increased revenue, profit and market share for the same amount of marketing spend.
In measuring the effectiveness of marketing a one-size-fits-all approach isn’t likely to be very effective. This is where our experience of working with companies from various sectors helps. Measuring the returns on your marketing practices is likely to go a long way in not only ensuring that you invest money in the right place but also deliver better results. Some other advantages can be:
Closed Loop Marketing
Closed Loop Marketing is a revolutionary concept that helps you integrate your sales and marketing efforts. In most organizations, marketing and sales often have very different perspectives on what data is valuable when it comes to customers and sales leads.
Sales monitors information like ordering history and credit status. Marketing on the other hand keeps tabs on outreach and promotions, competitor activity, what is selling and in what quantities, pricing variations, and regional or market segment trends. However, all this information tends to be limited to one department which makes it harder to realize sales. A closed loop marketing system uses technology to ensure this data can easily be exchanged between sales and marketing, and customers can be tracked effectively. Buyers are now in control of how and when you can reach them. Enfactum designs and executes go-to-market approaches that maximize your opportunities, while being grounded in the fundamentals of pragmatic marketing. We have special expertise in the Asian Markets, which are full of opportunity to create innovative new media, channels and processes for reaching targeted buyers modelled to reflect their willingness to buy.
Effective Lead Management
Effective lead management or customer acquisition management is essential if a business is to generate the maximum benefit from its marketing programs and generate new potential business clientele. Lead management facilitates a business's connection between its outgoing consumer advertising and the responses to that advertising.
At Enfactum we can help you streamline your strategy through every aspect of Lead management. We provide crucial insights at every step. Right from determining which methodologies would be most effective for your organization in Lead Generation to ensuring that these Lead Generation initiatives culminate in acquiring the relevant information to tap into. Helping you decide what would be more effective distributing sales leads through the Pull or the Push method and finally providing analytics solutions to review and analyse lead actions, marketing channels, and sales performance.
This information can be vital in assisting management teams make decisions that improve production, return on investment, and the overall performance and cost benefits of their marketing and sales strategies. An effective and efficient lead management program can be the defining factor that helps you to succeed over the competition. At Enfactum we can help you achieve this with our experience of creating effective strategies for companies from across industries.
New Channels Development
One of the biggest challenges that marketers face today is the flux of new marketing channels. These new channels like social media offer unique opportunities. Innovative new channels like Blogs, Podcasts and Video Sharing have radically changed the way organizations used to approach marketing and that too in a very short time. They deliver remarkably consistent results at surprisingly lower costs. Studies have shown that companies that relied primarily on inbound marketing experienced a 61% lower cost per lead.
However, to effectively utilize them an organization needs to understand not only the media but also the customer. At Enfactum we can help you leverage these new channels effectively in the Asia Pacific market. Not only do we have an in depth understanding of these new media but also a unique insight into how businesses and customers operate in this region. We can help you to tailor your sales efforts in order to attain an optimum mix of both traditional and new channels. The end result – you reach out to more potential and existing customers and generate more sales.