The Three Fundamentals of Marketing Success

Marketing any brand can involve many platforms, technologies, team members, and strategies. But for all of these elements and resources to work effectively and in harmony, there are three fundamentals that must be present for that success to occur.

All three of these fundamentals are critical for marketing success. It has been my observation where a brand is struggling, I find one or more of these elements missing or obscured.

The Three Fundamentals of Marketing Success

One: CEO Buy-In

The first fundamental that must be present is CEO buy-in. If the CEO is not on board with any marketing initiative, it will not move forward. And if your marketing is experiencing any progress without full CEO buy-in, it will be slow and will even stall at times.

Your CEO needs to understand that consumers are no longer sitting back as his or her company is attempting to sell to them. They are actively searching for information (Zero Moment of Truth) about the products and services they want to buy, making informed purchase decisions based on what they find. 

Two: A Marketing Strategy

The second fundamental that must be present is a marketing strategy. It must be in writing, have CEO buy in, as well as assign duties and responsibilities. Moreover, this marketing strategy must establish milestones and exact production expectations. 

Strategy sets direction and the objectives to be achieved. Strategy also sets the tone, culture, ethos, and expectations of a group. All great military generals and business leaders possess a clear-cut, written strategy in hand before committing resources, finance, or personnel to any important endeavor.

Three: A Marketing Budget

While strategy sets the direction for a brand, it is finance that gives the brand's strategy the energy to move forward. Without an established budget to fuel one's marketing, confusion, arguments, and endless board meetings will ensue.

I always consult that a brand needs to commit 10-15% of their earnings to marketing efforts and initiatives. Brands do not grow by themselves in a vacuum. Brands that are successful have become so through innovation, great service, and effective marketing.

What Are You Missing?

An honest and thorough analysis of these fundamentals will reveal much for any management and marketing team. When these fundamentals are strong, so are a brand's sales and growth.