When you’re launching a product or considering new markets, do you perform market research before moving ahead? If you do, then are you really listening to the results, or just looking for results that support what you’ve already decided to do?

Companies, that I have seen, that conduct their own research sometimes get caught looking for data points to support what they want to do rather than looking for data points to validate their ideas. Market leaders truly embrace market research, and when...

Implementing Your Channel Strategy

You have decided you want to sell via distributors, or you have revised and realigned your channel partners to better meet the needs of your business objectives and customers. Now, you need to implement the strategy so that your channel partners are successful.  You need to give them the marketing and sales tools that they need.  You need to continue to talk and support them.  Finally, you need to be open and honest about the relationship.  If you do this then...

Working with Channel Partners

How do you determine whether you should use channel partners, or how do you determine you have the right channel partners? 

To address the first question, you should evaluate your sales efforts and options.  Do you have enough direct sales people to adequately serve your customers or to grow the business to the level you want?  If you do not, then you then need to decide what type of channel partner will meet your objectives.  Do you just need sales people or...

Industrial companies use various means to sell and move product from their manufacturing facilities to the end customer. This connection from manufacturer to customer is known as the channel.  Historically this movement of product was through partners who would add value via their local relationships while also providing quick access to products via physical inventory.  As manufacturing systems have evolved, through Just-in-Time (JIT), Lean Manufacturing, Six Sigma, etc., the need for physical...

Click here if you missed part one of “Developing a Marketing Budget for 2012.”

How much should I budget for marketing?

This is the big question and one we get a lot. Typically marketing budgets are measured as a percentage of sales. The percentage will vary by industry. Both the Counselors to America's Small Business (SCORE) and the U.S. Small Business Administration (SBA) define the variable for a proper marketing budget to be between 2% and 10% of sales, noting that for B2C, retail and...

Have you put together your 2012 marketing plan? There is still time.

The Coming Year

Moody’s, Goldman Sachs, the Economist and other sources point to 2012 as another year of stagnate growth for the U.S. economy. Most of these sources point to less than 2% growth in GDP. As you know, anything can happen but it appears to be another tough year to grow your business. You need to plan for more of the same and hope for better. 

Part of this planning should include developing your marketing programs and...

In my 20+ years of assisting companies with marketing, I am continually surprised by the general misconception of what defines marketing.  I also don’t think managers truly see what marketing can do for their business. 

In the purest sense, marketing is the mix of activities required to get a product or service from conception to the end user.  These activities are typically described by marketers as the four P’s of marketing:  Product, Price, Physical distribution and Promotion.  Unfortunately...