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Exponential Marketing Results: 5 Tips for High Impact 2017 Brand Planning

I know it’s hard to believe, but it’s already that time of year! Regardless of where you are with the 2017 brand planning process, now is the time to begin laying the foundation for your 2017 exponential marketing results.

The key for delivering exponential marketing results is to laser-focus on the strategies and tactics that will bring oversized 80/20 results. By focusing on the vital 20% of marketing that will drive 80% of your business, you can reduce (or even eliminate) the unproductive 80% of marketing activities that bring little or no results. It’s quite remarkable, but based on the 80/20 paradigm, the top 20% of marketing activities can be upwards of 16x more productive than your mediocre and unproductive marketing activities.

For example, as CEO of Disney, Michael Eisner drove tremendous growth in profits. Upon analysis, it turns out that his results stemmed from just three key decisions; he increased prices in the theme parks, increased the number of Disney hotels, and put the animated classics on DVD. Together, these three decisions accounted for an estimated 90% of the increase in profits during his tenure.

disney-dvd

So when you boil it down, what are the marketing areas that offer the best potential for unlocking these types of 80/20 high-impact marketing results? Here are five places to explore for driving highly leveraged exponential marketing results in 2017 and beyond:

1). Know Your Baseline
Before developing your 2017 success plans, it’s imperative to know where things stand in 2016. What is working? What’s not working? What specific activities are driving the majority of your results? Are you on track for success this year, and by how much? Before you look forward to 2017, invest time taking an unflinching look in the rear view mirror to gain a true and clear picture of the sources of your current marketing results. To gain exceptional clarity, many teams consolidate their results in a unified metrics dashboard such as REVEAL, which helps with attribution modeling and the marketing mix optimization.

2). Prioritize Your Channels
In today’s marketing environment, efficient marketers focus on their key channels, targeting the specific customer groups they’re trying to reach. Like Eisner focusing on just three key strategies, media mix selection and optimization can be the single most important and valuable decision you make for your 2017 marketing plan. Take the time to really think through your customers’ journey, and dive into their media preferences and decision touchpoints. Winning at just a few key points in the 2017 patient journey can have a tremendous impact on overall brand success.

3). Identify and Learn from the Absolute Best
It’s always easy to fall into a “me too” mindset, especially in pharma marketing. However, in order to gain 80/20 leverage and uncover high-value marketing options, it’s critical to not only look at your competitors – but also expand your comparators and benchmark against marketing practices outside of pharma. For example, the Oscar insurance website completely simplifies the process of buying health insurance – and offers inspiration for simplifying many other aspects of the patient journey. Challenge yourself and your team to find the best marketing funnels, creative executions, and channel innovations from outside your typical reference set.

4). Set Your Idea People Loose
Ironically, many brand teams go into 2017 brand planning without tapping the insights and energy of their agency partners. To unlock the power of your various partners, consider hosting a one or two day agency summit, and ask your agencies to share their latest and greatest ideas. Even bring outside business experts or people from entirely different brands to participate. The resulting brainstorming and idea exchange will result in a turbo-charged use of planning time and help to identify and unlock many of those most valuable 20% initiatives.

5). Leave Your Plan Unfinished
While there is tremendous pressure to define every detail of your plan for the entire year, the reality of today’ s markets is that change happens faster than we can imagine. In order to really stay agile, set aside 15% of your budget to redeploy later in the year – either to use on new initiatives and/or to “feed your winners” by putting additional resources behind those activities that are doing particularly well. By building this type of flexibility into your plan from the beginning, you can catalyze even more exponential results as the year progresses, providing a valuable kick at just the right time!


Conclusion

Brand planning requires hard work, and also a certain sense of laser-focused prioritization. You don’t have to fund every last program, or be present in every single channel. Don’t try to boil the ocean when all your customers want is a nice dip in the jacuzzi! By carefully identifying the 20% of activities that yield oversized results, and overfunding those areas, you can realize exponential marketing results in 2017. These are the 5 key areas to focus on in order to uncover areas of exceptional leverage:

1). Know Your Baseline
2). Prioritize Your Channels
3). Identify and Learn from the Absolute Best
4). Set Your Idea People Loose
5). Leave Your Plan Unfinished

 

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Chris Mycek

Chris Mycek

Having worked on both the client and agency sides, Chris is recognized as an expert in his field. His experience in developing category-leading brands within the pharmaceutical, biotech, and consumer healthcare categories has paralleled his ability to integrate new channels and technologies into the marketing mix. When added to the depth of commercial innovation expertise that Cadient has formed across its teams, Chris’ experience and team represent an important bridge to help both existing and future clients achieve unprecedented success.
 
 Chris, along with his team, partner with Cadient’s Commercial Innovation and customer engagement divisions to help life science companies optimize the marketing performance of their brands and marketing initiatives.


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