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How effective is your business marketing?

WRITTEN BYJames Price | JPAbusiness

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The value of your business is heavily impacted by the strength and profile of your brand.

How you perform in servicing your customers is obviously a big determinant of brand value, but the way you market your offering and engage with clients, suppliers, staff and your community can also make the difference between moderate performance, and strong and sustained performance.

As a client of ours recently outlined in Episode 4 of our Let’s Talk Business podcast, social media marketing can be a powerful force for sharing a 'brand story' and building a profile.

“Social media gets our brand out there,” Reliable Food Distributors managing director Ben Gullo said. “[It] tells people what our company is all about.”

From experience we know that businesses with well-known brands, that are successful in marketing their offering, have established systems and processes for marketing activities that support their overall business model.

Further, these systems and processes help initiate and nurture customer relationships to maximise lifetime value and generate business.

Without effective business systems and processes it’s very hard to consistently meet – and, ideally, exceed – your customers’ expectations.

How effective are your marketing efforts in building sustainable brand and business value?

The following table is designed to help you conduct an initial self-assessment of the effectiveness of your current marketing systems and processes. (Click on the table for a pdf version.)

Mark the answer that best describes the current state of your business for each of the questions below: 1 = strongly disagree, 2 = disagree, 3 = neither agree nor disagree, 4 = agree, 5 = strongly agree.

Table001-1

The questions above are a starting point to help you identify gaps and issues impacting business performance, so you can narrow down the priority areas to address.

In this blog post we’ve focused on marketing systems and processes, however there are several foundational systems required by most businesses to operate effectively. See our Business Systems and Processes Checklist for more information on each of these.

JPAbusiness offers a range of business valuation and advisory services. If you would like to discuss strategies to help improve your business’s systems and processes, contact the team on 02 6360 0360 or 02 9893 1803 for a confidential, obligation-free discussion.

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About James Price | JPAbusiness James Price has over 30 years’ experience in providing strategic, commercial and financial advice to Australian and international business clients. James’ blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.