The 5 Key Success Factors Of Business – No. 4: Marketing

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.

marketing-15880482_sToday we want to give insights into what the world’s best companies do regarding marketing – also called customer relations, sales and responsiveness.

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.

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