Updated: Mar 27, 2019
HR professionals should be ready to participate in business discussions that involve other functions. In this article, we learn the 6 questions every marketer must ask. Knowing these questions will help HR leaders become strong contributors to strategic planning and demonstrate business acumen.
Question # 1: How do you discover new truths? How do you convert these truths into big ideas?
Every marketer must know what questions to ask to be able to gather data, and once data is available, a great marketer can dig through layers of data, connect the dots, and make sense of the clutter.
Question # 2: Do you know what NOT to do when challenging market leaders?
A small but strong-willed challenger usually competes with a surprise offense and offers something never done by the leader. As a challenger marketer, how do you gain some market shares for your unique offer, show some initial “winnability” to attract more supporters, create alliances to increase volume and accelerate your momentum, until ultimately becoming the new dominant leader with a big lead?
Question # 3: Do you have a READY tool kit when your competitor attacks you?
Every time a profitable growing business is made, you can be sure that competition will be attracted to join the industry sooner rather than later. Since corporate performance is usually relative and seldom absolute compared to competitive moves, success will be affected by what key competition will do or is unable to do. Therefore, businessmen and marketers must also learn to view marketing from a defensive lens. They must know if counterattacks are needed.
Question # 4: Do you know HOW to find new and sustainable sources of revenue and profit?
In growing your business, there are a few things to remember: the served market (your current customers) and the unserved or underserved markets. A marketing plan focusing solely on the served market is incomplete as it risks losing the underserved or unserved markets (sometimes even bigger than served markets) to other competitors.
Question # 5 : Is your product or service REALLY in the correct channel?
Understanding which channel/s to capitalize on to ensure maximum business results is critical. The entry of more and more online stores and services, brought about by increasing market penetration of smartphones and broadband, will continue to solve many pain points of the consumers.
Question # 6 : Do you know what’s happening in the marketing industry? How can you be AHEAD of the curve?
There so many advancements happening in the marketing industry both from the consumer-side and the company perspective. With so much technology available, many alternatives and the power of the consumer in decision-making, how can marketers keep up?
If an organization cannot answer any 1 of these six questions, it is at risk.
Josiah Go is the conference chair of the 10th Mansmith Market Masters Conference on April 3, 2019. The conference will feature 35 award-winning Marketing Rockstars in 1 Marketing Conference of the Year. For registration, visit www.marketmastersconference.com.