This is the fourth in a series of posts on the 5 Key Success Factors of Business which can ensure your success and stand the test of time.
As a reminder, the 5 Key Success Factors are:
- Strategic Focus (Leadership, Management, Planning)
- People (Personnel, Staff, Learning, Development)
- Operations (Processes, Work)
- Marketing (Customer Relations, Sales, Responsiveness)
- Finances (Assets, Facilities, Equipment)
Here’s what the world’s best companies do for Success Factor No. 4, Marketing:
- We have defined target markets in which we can sustain our advantage.
- We continuously monitor customer needs, values and satisfaction.
- Our unique brand positioning is built on a sustainable advantage.
- We attract new customers with targeted communications in multiple media.
- We gain new customers with strategic selling and database tracking systems.
- We manage customer expectations and perceptions to ensure satisfaction.
- We keep customers informed in language they understand.
- We encourage customer feedback and communicate it internally to everyone.
- We ensure customer enthusiasm with a proprietary interaction process.
- We monitor competitor moves and market trends to be proactively prepared.
How does your company stack up with these marketing-management criteria? Think about it. In our next post, we’ll take a quick but penetrating look at the Finances success factor. Meanwhile your questions or comments are welcome.