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Saturday, 11 June 2011
Master Marketer - PR Smith Interview (Part 1)
I am DELIGHTED to be able to post this interview with Marketing guru PR Smith.
I have known Paul for many years, as he was one of my tutors when I took my Post Grad. Diploma in Marketing.
This post contains the 1st section of a 2 part interview.
Here are a few details of his remarkable career...
PR Smith MBA, PG Dip (Fin), B.Sc. (mngt), Diploma in Marketing
Paul has helped hundreds of companies from innovative SMEs to IBM via his consultancy and seminars and thousands of companies via his books.
A Dubliner, based in London, Paul’s marketing consultancy integrates basic marketing with cutting edge social media, digital body language, virtual worlds and creative thinking. Paul’s works in both B2B and B2C markets in Europe, USA, China and Africa.
Paul’s SOSTAC ® Planning System is used around the world. PR Smith books are published in seven languages. Paul is author of Strategic Marketing Communications; Great Answers to Tough Marketing Questions, eMarketing eXcellence (recommended by the Inst. Direct Marketing) and Marketing Communications - a ‘marketing major’ (Chart. Inst. Marketing) and his own (self published) personal passion and social media campaign to get sportsmanship back on the agenda, www.GreatMomentsOfSportsmanship.com.
Question 1: You are perhaps best known for the excellent SOSTAC ® marketing planning methodology and model that you developed. Please can you say how it came to be developed? Why do you think it has such a broad following and such wide usage?
Although SOSTAC® is so simple it actually took me almost 10 years to develop. When I took my MBA back in the 80s I was so frustrated reading books with long meandering marketing plans that were over complicated and impossible to remember. So I kept in touch with my classmates and asked them to send me just the contents page (list of contents) from their marketing plans.
I analysed all of them and developed my own new structure – which went through several iterations until I came up with SOSTAC®. I knew it was a winner and registered it as a trademark.
Everyone is welcome to use it – all I ask is that they acknowledge me as the inventor, use the registered trade mark symbol and put a link to my web site www.PRSmith.org (ideally using the anchor text SOSTAC ® as the anchor text (or the blue hyperlink text).
(Ed. for those not familiar it cover the following areas - from which it derives its name)
- Situation Analysis (where are we now?)
- Objectives (where do we want to go?)
- Strategy (how do we get there)
- Tactics (the details of Strategy – marketing mix etc.)
- Action (the details of tactics- who does what)
- Control (measurement)
That is why it is so simple – it’s easy to use, has a strong logical structure and can be adapted to any plan – whether a business plan, marketing plan, social media marketing plan, personal plan etc.
Add the 3M resources and you’ve got an outline plan. I’m developing some SOSTAC® eWorkBooks & Planning templates to be released this September.
Question 2: How well do you think marketers perform Marketing Planning, especially in the emergent area of Digital Marketing? How can they improve their performance here?
Strategy is a common weakness in many plans. In fact, a few years ago I co-authored a book about Marketing Communications Strategy and discovered that a lot of companies do not have any crystal clear, razor sharp strategies.
To get a good strategy several options should be considered before selecting the final strategy. If the strategy is wrong everything else is wrong. As Kenichi Ohmae once said to me ’There’s no point rowing harder, if you are rowing in the wrong direction.’
Key components for strategy include: STOP & SIT - Segmentation, Targeting and Positioning linked to Objectives and Sequence, Integration and Tools.
With digital marketing strategy, deciding which tools to use and how much resource to allocate is particularly challenging. I suggest you allocate budgets according to where your audience is (online or offline). And also consider constant testing i.e. testing and measuring reactions to different tools and offers.
This is why digital marketing actually gets easier as everything is easily memorable and easily changeable. However, social media is not a short term campaign, it takes time to build a following and then even more time to maintain it with great, relevant, content and, most importantly – engagement.
Highly engaged small number of followers is better than a disengaged massive following. Ask your followers what they want. The will tell you. Then deliver it. Digital marketing naturally creates customer driven businesses. Marketing utopia – which is fully explained in the the FREE Download Chapter 1 of my 5th ed. Marketing Communications – integrating offline and online with social media today from my PRSmith Marketing facebook page PR Smith web site.
Question 3: I believe that you have the new 5th edition of your book ‘Marketing Communication’ available soon. What has changed since previous versions? How have your ideas developed?
Four new chapters: New marketing (integrating social media into processes); Brands; CRM and the final chapter is about Web Sites and Social Media. As in previous editions, the first half is about the back ground to comms i.e customer psychology, communications models, comms agencies, planning etc., while the second half addresses each of the 10 comms tools online and offline.
I also introduce the Ladder Of Engagement which, I hope, helps people to put a simple structure on an often chaotic social media world. It also helps marketers to choose different strategic levels of engagement with their customers according to their resources available. All of this is downloadable as a free chapter from my facebook page PR Smith Marketing facebook page or my PRSmith.org web site for a few months.
Useful Resources and Links
Twitter: PR_Smith
Web site: www.PRSmith.org my web site
Facebook: PRSmithMarketing my facebook page
Blog: Great Moments of Sportsmanship.com my sportsmanship social media campaign – please join in.
Smith, PR & Zook, Z. (2011) Marketing Communications 5th ed., Kogan Page
Smith, PR & Chaffey, D. (2008) eMarketing eXcellence 3rd ed., Butterworth Heinemann
Smith, PR (2003) Great Answers to Tough Marketing Questions, 2nd ed. , Kogan Page
Smith, PR, Berry C. & Pulford, A. (1999) Strategic Marketing Communications, Revised ed.
Smith, PR (2009) Great Moments of Sportsmanship, PR Smith self published.
Smith, PR (2002) Marketing Essentials series of 10 CDs, PR Smith
Smith, PR (2004) eMarketing eXcellence 10 courses on one CD, PR Smith
Coming Soon SOSTAC ® Workbooks
Check back for part 2 of this interview - COMING SOON!
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Master Marketer Interview - Digital Media Expert Imran Farooq
In the rapidly changing world of digital media and digital marketing, I am pleased to post this interview with someone who is working in this area as a Master Practitioner, Academic and successful Businessman.
Thank you Imran!
Imran is MD of MMC Learning, a digitally driven joint venture company with MMU Business School and a Senior Examiner for the Diploma in Digital Marketing awarded by the Chartered Institute of Marketing.
He is experienced in the rapid development of rich e-learning content which is being used to educate business professionals in over 50 countries as well as working with senior management teams to develop staff training programs for Digital Marketing skills with various companies including Hewlett Packard, Bell Pottinger and 3M.
Question 1: We hear a great deal about Social Media Marketing today. Should this be the main focus for a company’s Digital Marketing activities?
It definitely should be one of the main tools or channels in the mix as that is where the gravity of the internet is. There are lots of networks and if you Google “Social Media Map” you will see some interesting visuals showing all the social media networks on the internet!
The main ones include Linkedin, Facebook, Twitter, YouTube and some of the upcoming local networks.
Before jumping into any of these tools it is worth researching or monitoring the buzz on these networks which will give you customer insight into what is relevant to your products, market and business activity.
For example, Linkedin has a Q&A and groups section where you can see what people are talking about, Facebook has an advertising area where you can view detailed audience profiles and Twitter search & trends can show you what people are tweeting about.
He is an expert commenter on SmartInsights.com and also sits on the advisory board for the CAM Foundation helping shape the pioneering and leading Digital Marketing Qualifications in the UK.
Question 2: What advice would you give companies to ensure that they achieve the best results and returns from Digital Marketing?
Key advice is to segment as much as you can!
Target your audience using customer insight tools – always follow through with relevant messaging specific to your audience at each point of the campaign.
If you are targeting specific keywords/audiences, the ads have to be relevant, the landing pages have to relevant, the sign-up/register has to be relevant, the email follow-up has to be relevant and then close the deal!
Question 3: Should Digital Marketing be treated as a separate and specialist area within the marketing function (like SEO) or is it better treated as something with which all marketers should be involved?
Everything is Marketing and the word Digital is latest word being used to describe the explosion of new ways and tools to reach customers. There is a big issue at the moment as there is a divide between Marketers and Digital/Technical people.
Digital is being treated as a bolt-on and may have worked in the early days but right now it is not working as everything needs to be joined up. So the digital activity has to be at the core of marketing and other functions in a business.
Question 4: As a Senior Examiner for the CIM and someone who is heavily involved in Marketing Education, how strong are Marketers skills in the area of Digital Marketing today? What can they do to further improve them?
There are some Marketers already out there who launching amazing online campaigns and generating brilliant results on the money they are spending. Marketers are all at different levels in terms of general digital marketing skills and also at different levels in terms using different digital and social media tools.
The main reasons why some Marketers are struggling is an information overload and not having the right mind set. I think it is important to have a clear understanding of what you are trying to do within the business and then utilise the appropriate digital tools.
For example, you may be trying to generate leads, convert leads into sales or build relationships – depending what your aim is, there are different digital tools you could use at each stage.
Useful websites to increase your knowledge in Digital and stay up to date;
Useful Customer Insight tools;
It is really important to get a foundation of digital marketing knowledge which allows individuals to quickly grasp and leverage the opportunities in Digital.
The CIM digital marketing qualifications are the best in the market place right now to gain this foundation.
For more information visit www.cim.co.uk or sign-up to a free trial at www.diplomaindigitalmarketing.com.
Question 5: Finally, how do you think Marketing Education and Training will evolve with the continued growth in Cloud Computing and Mobile Technology?
I am looking forward to seeing the growth in both these areas as I think they will play a key role in joining up a number of business and marketing functions. Mobile is big and will be big every year for the next few years.
We are living in a world where content is being produced at rapid speed, we are consuming a lot of information and to stay on top we must be able to learn and respond on the go – advances in both software and hardware technology is really changing both production and consumption of information so it is important that everyone has an effective, on-going content strategy in place.
Other links and contact information:
Visit Blog - www.ImranFarooq.com
Visit Company – www.mmclearning.com
Follow on Twitter - @imranfarooq
Connect as a Friend on Linkedin - www.linkedin.com/in/imranfarooq
Saturday, 28 May 2011
What is Strategy? Professor Michael Porter Explains - We Comment
The fundamental truth behind Marketing.
This is so good!
I often ask organisations:
What is it that makes you different and better from your competitors, in ways that add value to and are valued by your customers, that can't be easily copied?
99% of the time they can't answer! - or say something like 'We are the market leader'...'We have been in business for 50 years'...'We have a great brand.'
None of these responses answer the question. Remember past success is no guarantee of future performance...ask any banker!
Strategy is all about answering this question - Creating your unique position in the market - that anticipates, identifies and satisfies customers wants and needs better than anyone else?
That is a Strategy!
7 Top Tips for Passing CIM Assessments and Exams
Here are SEVEN TOP TIPS for students studying for CIM Marketing Course. These are mainly based on my teaching experience with the Professional Postgraduate Diploma in Marketing – but the concepts are equally relevant for their other courses.
These are my practical tips, based on some years of teaching experience – they are not (necessarily) endorsed by the CIM. But, I have found that they work.
Tip One – Read the CIM Course Syllabus
This document exists for all the CIM qualifications/courses and can be downloaded from the CIM website. In it you will find a description of how marks are awarded, section by section, and the criteria for achieving a given grade.
It tells you what to do to get an ‘A’ – how fab is that?!
For assessments it details exactly what is required to be covered within each section and the number of marks you can gain.
Therefore make sure that the word count and marks are matched – a section worth 20% of the marks should (roughly) contain 20% of the word count. You may be surprised how many students overlook this fact. Don’t be one of them.
Tip Two – Look out for the Action Verbs and Required Content
The CIM syllabuses (syllabii?) gives you detailed and helpful advice on how to answer each question, clearly and succinctly.
Follow the advice!
Look out (and even highlight) the ‘action verbs’. If the syllabus says; ‘critically assess’, ‘list’, ‘explain’, ‘compare and contrast’ etc. then do just that.
If the question says ‘List THREE factors affecting the industry', or ‘recommend ONE strategy’ etc. then do just that.
Otherwise you will end up answering questions that have not been asked. This is a bad thing.
Tip Three – PLAN!
Whether you are submitting an assessment, or sitting and exam, a major success factor is to PLAN, PLAN and PLAN some more.
This may sound obvious but I am constantly surprised at students who do not. Whether you use a ‘Mind Map’, Bullets, or Tree approach, you should take the time to plan your answer section by section, or question by question.
In assessments this helps you to get-it-right, first time. Your arguments will be clearer. You will really answer the question that have been asked - section by section. - (See Tips One and Two above.)
In an exam, spending time at the start to plan out your answer means that you will find it far easier if you use this plan as a template, to expand into a full answer.
Students who turn over an exam paper and immediately start writing out an answer are likely to waste time, miscalculate the length of the answer needed and may be forced to rush or rewrite at the end of the exam period.
Better to spend 10 minutes at the start, read the questions, plan the answers make a list of the arguments, the models and the answer content – then go on and write it up from these notes.
Tip Four – Make it Easy for the Examiner
The person marking your script will have a limited time available to review your work. Therefore make it easy to read.
Use white space.
Use concise sentences. The longest I have found so far in an assessment was 57 words! It nearly made my eyes bleed and by the time I reached the end I had forgotten how it started.
So use….
- · Tables,
- · Bullet points,
- · Indents,
- · Diagrammes
…. and make it interesting, easy and appealing for the hard working examiner.
Tip Five – Don’t Just Repeat the Text Book (aka 'Theory Dumping')
CIM qualifications are about practical skills and not just academic theory, By all means use ‘Porter’s 5 Forces’, ‘Ansoff Matrix’, ‘PLC ‘or whatever…. But use them intelligently in the context of the case study, exam question or assessment.
This is especially important at Post Graduate Diploma level.
Simply describing what a model does, as if you were copying out the text book description is not what they’re after.
Use the theories in context!
Tip Six – Don’t be Bland or Clichéd
The examiner wants to see you add value and make cogent arguments that actually say something. The Post Graduate Diploma, for example is just that – at a level between a Bachelors and Masters Degree.
Therefore it needs answers that reflect this.
I have seen submissions like:
‘The Internet has caused a seismic shift in the world. This presents many opportunities and challenges to marketers. Companies need to react quickly to seize these new possibilities and use them to grow and develop their businesses and decide which markets they should be in.’
Bland! Boring! Content Free! …. (as well as ending a sentence with a preposition.)
No marks (from me anyway) and a waste of time and word count.
It is so boring my blood has ceased to circulate and I may soon enter a coma!
It is so boring my blood has ceased to circulate and I may soon enter a coma!
Tip Seven – Don’t Waste Marks
Up to10% of marks are awarded for good presentation and 'admin'. Therefore bag them and you are 1/5 of the way to a pass.
Make sure that you follow all the guidance on ‘admin’ points such as ‘Harvard Referencing’ (where required), font size, spacing, plagiarism statement, student number etc.
Make sure that your submissions are with your study centre on time, in the correct number of paper and soft copies and in the correct formats.
If it's an assessment spoll check and grammarate it. (Irony intended)
Finally, don’t panic!
You have studied hard and revised well.
The final submission of your assessment or sitting the exam is just the last hurdle - building on all of your previous hard work.
The final submission of your assessment or sitting the exam is just the last hurdle - building on all of your previous hard work.
Go for it and Good Luck!
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