By Leigh Cowan, CEO of Leadership Empowerment
I was recently asked, “What are corporate marketing strategies?” so thought I’d share a summarial answer my own blog.
A properly led company starts and grows because it has a defined focused and clear PURPOSE. It embraces a VISION and undertakes a MISSION to strive for the achievement of that VISION. As it grows, it ensures it stays true to core VALUES by maintaining clarity regarding its IDENTITY and sets OBJECTIVES that satisfy these guidelines.
Marketing is the management of exchange and marketing strategies are the overriding approaches that the organisation will adopt as the means by which the OBJECTIVES will be achieved.
These strategies set the parameters for TACTICS that are employed to get the job done.
These TACTICS can be broken down into indivisible tasks that need to be completed to satisfy the above.
When strategic corporate guidelines are in place, diligently (if not fanatically) endorsed by the Board and all c-level executives, the following outcomes occur:
- Higher levels of employee engagement
- High levels of employee productivity
- Less internal politics, silos, hidden agenda, and disengaged employees leading to lower staff turnover, less sick leave, lower stock shrinkage, higher customer satisfaction and better user experience from customer to trade partner.
- Less “friction” exists between supervisors and their subordinates because everyone has a clever understanding of what is expected of them, what they should be doing, what decisions are the most appropriate… this means people can take control of themselves, self-manage, use their intuitive abilities and work more constructively and collaboratively.
Corporate Marketing strategies deal with Product, Price, Channels of distribution (Logistics and Communications), Promotion (advertising, sales promotion, PR and Personal Selling), Pricing Processes (including manufacturing, procurement), People (staff and service providers), Positioning (branding, image, corporate social responsibility, organisational reputation management) and Politics (external lobbying, industry, and internal politics).
If your corporate objectives are comprehensive, and your corporate marketing strategies are implementable, then you have a successful, sturdy and secure corporation.