We are in the middle of conduction a study in relation to technical setup, usage, and utilization of marketing, sales and communication technology for commercialization purposes for midcap service providers. So far our most interesting find is the discrepancy between possibilities and reality in utilizing the technology available to the fullest. As companies have access to an are paying license fees for systems capable to handle almost any processes related to commercialization. Without being even close to touching upon the power and subsequently possibilities that lie within their systems.
- The model illustrates different areas were deviation is profound and fuels a massive competitive disadvantage.
Assessing refers to analyzing what constitutes traits and attributes associated with your brand, organization, services or history. These traits and attributes are what any potential prospect has to be presented with, to be able to choose any one company based upon preferred needs/wants and not only ad- hoc needs or special offers.
Segmentation refers to dividing consumers into smaller and more marketable entities, based upon which traits and attributes each individual client or customer need or wants. Hence if a company has not assessed itself, it can hardly segment a marked based upon any client’s individual preference. Not knowing traits and attributes means not knowing which needs or wants to serve and target.
Mirroring refers to doubling, tripling or quadrupling a segment within a market using the AI and machine learning algorithms within Google, Facebook among others. Criteria for which traits, attributes, needs and wants to target, are found within the company’s existing clientele. Thus any guesswork or fake data used here, compromise any investment done in adherent campaigns and subsequently makes expected return on invest guesswork.
Plugging refers to choosing marketing and communication channels, what message to use towards different buyers and what design they find most appealing. And in the process defining different calls to action, alternative associated conversion sites, platforms or media and programmatic activities and such. However, plugging is always based on available data. Fake or bad data will only produce “snake oil.” It can look good, professional promise the world and be presented with reports, diagrams, bells, and whistles, but it will not yield results.
Adjusting refers to optimizing messages, design to optimize RoI or other goals while campaigning. This is the easy part of marketing, but its overall effect is 100% dependent on those previous processes.
Although this is just a preliminary finding we feel confident in concluding that for midcap service companies in general. Technological development and thus technological possibilities within sales and marketing are now being developed at a speed where it is hard to keep up and even harder to stay on top. Leading to markets more fragmented and open for growth than what has been possible for quite some time. If you would like a presentation of the complete study when it’s done, feel free to get in touch.