You’d be hard pressed to find a corporate exec or entrepreneur that doesn’t value marketing as a “mission critical” business function. I also suggest that marketing activities, especially strategic initiatives, often fall to the bottom of the to-do-list. This happens because urgent matters supersede important ones. Unfortunately, that course of action makes for short-term relief and a long-term headache!

You can either establish a strategic marketing program or buy more aspirin. If you opt for the marketing program, keep reading.
In today’s dynamic and volatile market environment, there is no such thing as a static solution or quick fix. Marketing is a continuous cycle of many integrated activities. These activities should be evolved and adjusted to changing market conditions.

Before developing a strategic marketing program, it will help to first take stock of your assets and liabilities. Start by accessing your present situation; be sure to consider both internal and external factors. Evaluate each of the eight checkpoints below and rate your performance on a scale of 1 to 10, 1 being non-existent and 10 being masterful. No fuzzy math allowed.

• Market Research: Do you have reliable data on your target market, customer satisfaction, competitors and industry trends? How often do you refresh the data?
• Strategic Planning: Do you have a current strategic marketing plan documented with measurable objectives and an action plan? Does it reside in a drawer or on your desk?
• Brand Development: Have you developed and positioned your brand to fill a niche and differentiated it from the competition — in terms of pricing, distribution or identity?
• Promotion: Does your communication strategy effectively promote your brand with well-targeted media and a memorable theme? Are you satisfied with your return on investment?
• Sales: Do you have a proactive sales plan in place that effectively identifies, qualifies, motivates and converts prospects into high-margin customers?
• Service: Do you have customer service procedures that secure the sale, acknowledge purchases, mine for referrals and retain each customer’s business for the long-term?
• Infrastructure: Have you judiciously developed and allocated your facility, financial, human resource and technology assets to wholly support your marketing program?
• Tracking: Have you established the necessary performance metrics to consistently evaluate your marketing activities and investments for efficiency?

How did you do? A perfect score would be 80; even marketing experts don’t achieve a perfect score because there’s always room for improvement. If you scored below 40, count yourself (or company) among the majority. The good news is that you have a tremendous opportunity to develop and leverage your competitive advantage.

Use these eight checkpoints as a guide to bolster your marketing program. Concentrate on your lower scores first; the goal is to obtain an even balance. Ideally, you would conduct this type of assessment annually. By developing and executing a strategic marketing program, you’ll leave the headaches to your competitors… then you can afford to buy stock in an aspirin company!

(Editor’s Note: Andrew Ballard is the President of Marketing Solutions, Inc., a Seattle area firm specializing in strategic branding and media services for small companies. Visit him at www.mktg-solutions.net.).