So much data…so little information

An effective market intelligence system (MIS) will deliver useful information….that could be applied to leverage a stronger competitive advantage.

Having worked in many Australian sectors, generally there’s plenty of data…but little  published strategic information.

I suspect that’s partly because many Australian  industry sectors’  entity ownership is quite tightly concentrated.

In my opinion, it’s also because market intelligence systems (MIS) are informal, poorly structured or don’t exist in some organisations. Consequently, information that flows out of management  and market engagement is often patchy; possibly out of context or just plain unrepresentative.

MIS is a key support function that turns a regular collation of data into sensible information that adds explanatory value to market or competitive conditions.

What’s been your experience? Please comment and  share ( see below )

cheers

Pete Jeans. Director. SMO Sydney.

Social media…or anti-social media?

…a convenient term for the channels and process of initiating and maintaining interactive engagement with stakeholders, social media needs to be very well managed…or it will bite you badly!

In my opinion:

  • social media channel choice, mix and utilisation objectives need to be very clear.
  • Content and interactive engagement themes need to be ‘on-message’ around the brand value proposition.
  • The marketing leader signs off on the campaign and keeps the lead team fully in the loop
  • “likes” and comments and postings need to be checked out for potential antagonists or activist lobby groups
  • issue management  processes and responses need to be workshopped and agreed; including authorised spokespeople
  • put a social media accredited expert in charge of social media sites
  • emerging crises need to be responded to openly and honestly very very quickly…perhaps within 20 minutes…
  • when under attack, detailed chronological diaries  must be kept of issue management steps, stakeholders,  response messages, media attention and outcomes.
  • site diagnostics and metrics need expert advice on selection and  interpretation. Site promoters can help with this.
  • social media operates 24/7. Ensure you have monitoring coverage and response capability 24/7.
  • it’s worth going to a well-credentialed digital marketing and social media annual conference to keep up to speed with trends.

Hope you found this useful?

cheers

Pete Jeans. Director. SMO Sydney.

 

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Six emerging trends in media and communications…courtesy of the ACMA… a must read

This article is a must read….via Australian Policy Online and courtesy of  © Commonwealth of Australia (Australian Communications and Media Authority) 2014.

….remarkable changes in the way we use media and communicate….follow the link…and forward to your network contacts.

http://apo.org.au/files/Resource/acma_sixemergingtrendsinmediaandcommunications_nov_2014.pdf

cheers

Pete Jeans. Director. SMO Sydney

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NSW economic update…courtesy of APO.org.au

Here’s a useful update from the NSW Parliamentary Research Service on the status of the economy in New South Wales, Australia. Follow the link.

http://www.parliament.nsw.gov.au/prod/parlment/publications.nsf/key/NSWEconomicUpdate:October2014/$File/Economic%20Indicators%20NSW%20October%202014.pdf

cheers

Pete Jeans. Director. SMO Sydney.

SWOT analyses and value propositions…key strategic tools…but often not exploited appropriately

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Pete Jeans. Director. SMO Sydney.

SWOT analyses are often developed too quickly… by management second-guessing the issues without the benefits of customer research; and then generalising their views of their own organisations’ performance. BIG mistake! Why? Because management opinions of the drivers that influence customers are often degrees different to customers’ actual perceptions.

SWOT analyses need to be developed from the current and potential customers’ viewpoint.

That way, we get to understand:

  1. What are the key factors that drive perceptions of  organisations’ marketing performance on drivers that influence supplier choice? ( relative to competitors )
  2. How do we rate on these factors in customers’ minds?
  3. What are the critical components of the desired value proposition from the customer’s standpoint that need to be enhanced?

Then, there’s the value proposition. That is, the holistic statement of the benefits to key market segments that influence customers to prefer one supplier over another.

The process is straightforward and not expensive relative to getting the value proposition wrong.

But, there’s one more absolutely fundamental issue…and that’s assessing whether the desired value proposition is different and strong enough to stand out sustainably over time against competitors’ positions.

It’s the acid test. Is the promotional positioning and execution cutting through the competitive noise and engaging customers? That’s where a specialist advertising agency earns their stripes…creatively; through media channel choice, promotional spend weight recommendations and media buying expertise.

So, I hope these few words strike a chord with you. Perhaps I can help to develop the true position you hold in the market? Email me at petejeans1@telstra.com if you’d like to have a chat.

cheers

Pete Jeans

Director. SMO Sydney.

About Pete Jeans:

http://strategicmarketingoutsourcing.wordpress.com/

immediate solutions when you’re under-resourced

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Hello. I’m Pete Jeans. Director at SMO Sydney. I’m a contract GM with wider and deeper industry sector experience.

Middle management has just about disappeared in some sectors. And as order volume is starting to rebuild and everyone is busy,  the challenge is who’s available now to lead implementation programmes for growth or change?

Here’s some ideas:

  • form a team of future leaders. Give them the responsibility to build and execute a growth  implementation plan.
  • hire an interim leader to lead delivery
  • re-employ a retired former manager who understands the organisation and the issues
  • retain a sales representative agency to drive in-field  customer acquisition goals
  • send me an email at petejeans1@telstra.com         perhaps I can help?

cheers

Pete Jeans

Click here to learn more about Pete Jeans: http://goo.gl/M1ofgU

 

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