“Can the Motorcycle Safety Foundation (MSF) help you become a better Sales person and a better Marketer? How can you use the Motorcycle Safety Foundation’s SEE principal in a Market-Driven Organization? – Spinach Helpful tip of the Week
The leadership of a Market-Driven Organization who are focusing on market expansion, ongoing digital projects like SEO optimization, new and existing Brand development will follow the steps of the Market-Driven Process incorporating all phases into their strategic planning and market planning.
In today’s competitive environment and crowded market it’s critical for you to SEE and to adopt and live the Market-Driven Process within and across your organization – from the Information gathering (Visual ~ Search) and data scrubbing where you convert information and data into insights (Cognitive ~ Evaluate) through the execution phase (Motor Skill ~ Execute).
Search – search aggressively ahead, to the sides and behind to avoid potential hazards (and opportunities) even before they arise. You will engage your marketing technology stack and begin to review your analytics and dashboards to monitor and enhance the outcomes of your sales and marketing teams who are implementing and living the Market-Driven Process. Search during your initial steps where you are gathering information and data – looking at market intelligence, sales cycles, conversion rates, cost of conversion, inputting information and filtering it from your companies CRM system, eCommerce site, Google & Bing adwords dashboard and utilizing the market intelligence that is available from other sources converting information and data into insights and actionable strategies.
- Oncoming traffic ~ hazards, opportunities – competitive products, new entrants into the market, alternate offerings, etc.
- Traffic coming from the left and right and approaching from behind – social media, competitive sales people, competitive marketing programs (rebates, incentives, coupons, contests, etc.), advertisement, associations, etc.
- Hazardous road conditions – suppliers, manufacturers, regulatory agencies, environmental factors, etc.
The sales and marketing teams living the Market-Driven Process and a Market-Driven Organizations needs to leverage market intelligence including their own existing in-house and external data the traffic and hazardous of the road to better understand customer and product lifecycles and purchasing habits.
Evaluate – think about how hazards can interact to create risk for you. Anticipate potential problems to reduce risk. – pre-call planning and training for the sales team, focus groups, research and surveys for the marketing team
- Road and surface characteristics – potholes, guardrails, bridges, telephone poles and trees – competitive environment, seasonal effect, transportation, logistics, etc.
- Traffic control devices – look for traffic signals, including regulatory signs, warning signs, and pavement markings, to help you evaluate circumstances ahead – contracts, formulary, exclusivity agreements, State and Federal regulations, legal, financial, etc.
- Vehicles and other traffic – may move into your path and increase the likelihood of a crash – new technology, competition, etc.
Now it is time to evaluate, check your dashboards, conversion rates, number of overall transactions, Quality scores for your keyword searches and A/B ad test statistical results – what are we seeing – take that information and data just like the motorcycle driver scanning the traffic and hazardous road conditions evaluate how they will interact…anticipate potential problems these move customers through the customer lifecycle and adapt with them along the way, reducing attrition and driving long-term customer relationships.
Execute – carry out the decision, to create more space and minimize harm from any hazard
- Communicate – your presence with lights and/or horns – Marcom, promotional message, advertising, education
- Adjust your speed – by accelerating, stopping or slowing
- Adjust your position – and/or direction
Apply the old adage “one step at a time” to handle two or more hazards.Remember, to understand the culture of an organization so that it can be successful implementing a Market-Driven Process and become a Market-Driven Organizations they need to leverage market intelligence including existing in-house information and external information to better understand customer and product lifecycles and purchasing habits that will then trigger promotional/marketing programs and contract initiatives that move customers and adapt with them through the customer lifecycle, reducing attrition and driving long-term customer relationships. As we go through the process please provide your insights and thoughts so we have a more robust dialogue and don’t walk around with spinach in our teeth.
What is a ‘Spinach helpful tip’? Have you ever walked around with something in your teeth, and no one tells you. A real friend takes you to the side and tells you. It may be embarrassing at first but not as bad as finding out at the end of the day when it is too late to do anything about it. Especially if you are trying to create a positive brand image and lead your organization to success!
Chris A. Marshall
For more information please feel free to review these additional Spinach Helpful Tips regarding the Market-Driven Process: