Viability Analysis In Your Marketing Plan
October 17, 2008 by 
cindy
Marketing accountability is an integral part of any marketing strategy today. Marketing managers also need to include viability analysis into their marketing strategy.
And, when it comes to an international marketing plan, this is even more important. The success of your international business can depend on the viability analysis carried out as part of your international marketing plan.
The Process
This means that you need to create an international marketing process that you can measure.
But you need to pay attention to what you measure and how you will use this information. You need a marketing process that gives you the information you need to determine viability.
In the 3 Differences In Your International Marketing Plan I gave you a simple action plan:
- Review your international marketing plan
- Create a process
- Include steps that can be measured
- Review these steps for relevancy
- Use this process to create accountability
- Review results for viability
The Reason For Your Process
But this is a simplistic view. You need to spend time reviewing:
- The information your business needs to determine viability.
- The value of what you need to track and measure.
- The relevance between what you are measuring and the information you need for viability analysis.
Make It Work
And once you get this right, you need to review your process to make sure your sales and marketing teams can contribute to this process.
Implementation is key. The process you create for your viability analysis must fit in with how you do business.
Key To Your International Success
Viability analysis is vital for international business development. Your business needs the right tools to make the right decisions to grow in foreign markets.
You can create this process right from the start, when you first start selling to international clients.
In the beginning your process may only include a few extra steps. But these few extra steps will give your business the information you need to continue to develop abroad.
You can find the other two differences in your international marketing plan here:
Read The Whole Story
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This is part of the Core Business Guide 6 Analyze Your International Viability Be sure to check out the other useful tips to analyze your international viability |
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And it is also part of the Core Business Guide 4 Build Your International Marketing Strategy Be sure to check out the other useful tips to build your international marketing strategy |
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Need instructions?
Need to see where this fits in?
Still confused? Review your answers in the first Core Business Guide
Simply click on one of the 8 different color coded boxes immediately below to access other core business guides.
| 2.9 |
3 Reasons To Start With Integrated Marketing
October 8, 2008 by cindy
Integrated marketing is on most marketing managers’ agendas today. The reason why it is on most agendas is because it strengthens all of your marketing actions. It has become an essential part of business.
What is integrated marketing communications?
It is the process of ensuring relevancy and consistency for each prospect and client in all your brand communications.
When It Is Challenging
Integrated marketing can be a challenge. It is not always easy to implement the processes needed for effective integrated marketing into existing marketing plans.
What makes this challenging?
- The number of communication channels.
- The apparent variety in prospect profiles today.
Easy For Communication In New Markets
Imagine starting a completely new communication strategy. A communication strategy with a clean slate. And in a new market. One you are just beginning to develop.
It would be easy to include integrated marketing processes right from the start. And here is what makes it easy:
- Your focused efforts on your new markets
- Your need for feedback from your new markets
- The limited number of communication channels you will have in the beginning
There is a distinct advantage in establishing an effective integrated marketing strategy when you begin to develop a new foreign market. It is easier to establish when starting a new communication strategy, compared to an established communication strategy.
One Message For One Foreign Market
When you create your first communication plan for a new foreign market you usually find it easy to concentrate on creating an integrated marketing message. This usually happens naturally as part of the process.
Integrated marketing creates effective communication across different media platforms.
Your market research is fresh and you naturally want to stimulate more international business intelligence through your communication.
Even if your communications with your foreign market are limited in the number of channels you use, you will probably use good integrated marketing practices.
Integrated marketing comes in to play with creating good website templates for multiple localized websites.
Stimulate Feedback To Create Action
When you first communicate with a new foreign market you want feedback.
In fact, if you are smart, you will also create your first communication to actually stimulate feedback from your new foreign market.
- You try to get your readers to take action: give you feedback.
Again, this is also very similar to your goals in integrated marketing:
- Moving prospects from a state of awareness to taking action.
With feedback it is easy to move into the next step…
Tracking and testing become a part of optimizing results for both the international marketer and the integrated marketer.
Step Into Integrated Marketing
Implementing an integrated marketing plan right from the start of your international business development makes good sense. Here are the reasons why:
- You get all of the value of an integrated marketing plan.
- You develop your international markets faster.
- You create a structure you can measure.
- You track and test results for marketing accountability.
- You create a base to measure international viability.
An Added Bonus
Integrated marketing for new foreign markets can also favorably influence your integrated marketing for your domestic markets:
- The extra strategy and focused targeting required.
- The simple integrated marketing model you create for your foreign markets.
Good international business development usually elevates the level of company-wide business practices. This is probably the “expense” of international business today:
- Investing the time and effort in establishing great business practices.
Many would agree this is a good option.
Read The Whole Story
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This is part of the Get International Clients Business Guide 4 Build Your International Marketing Strategy Be sure to check out the other useful tips to build your international marketing strategy |
Need Help?
Need instructions?
Need to see where this fits in?
Still confused? Review your answers in the first Core Business Guide
Simply click on one of the 8 different color coded boxes immediately below to access other core business guides.
| 2.9 |
