Every business wants to make a bigger impact. The question is, how does one do just that? And with the deluge of online “noise”, how does a business align his online media monitoring needs with the business’ goals without spending too much time and resources on worthless chatter?
It’s an old adage by Sir Winston Churchill, but it’s worth mentioning here nonetheless: “Failing to plan is planning to fail.” And for someone running a business, having clear business marketing goals is a must to establishing a marketing plan that’s aligned with the business’ objectives.
What is a marketing goal? Simply put, it’s the quantitative translations of the company’s financial objectives that support marketing in terms of sales dollars, awareness and others.
What are the elements of a good plan?
A good plan must have the following elements:
• Executive Summary – it’s a concise overview of your business plan.
• Company Analysis – this defines the true nature of your business.
• Industry Analysis – this evaluates the type of environment your business is competing with.
• Analysis of Customers – this details the different types of customers the company serves.
• Analysis of Competition – this defines the competitive nature of your business as we define a company’s direct and indirect competitors.
While we cannot discuss all of these in detail, we’ll be focusing more on “Industry Analysis” here.
Researching and understanding content opportunities.
Industry Analysis means “an analysis of conditions in an industry at a particular time, including the behaviour of and relations between competitors, suppliers, and customers.”
However, with all the “noise” surrounding your industry, particularly now in this day and age of online media, how do you sift through that and pick only those that are relevant to your business?
The good news is that you can actually spend lesser time now than before going thru tons of articles and news information to find the news that are aligned with your business’ goals.
You don’t even need to go to different websites just to see all the contents that are relevant to you. You can set your RSS feeds to deliver the news as they happen, and see only the best resources you can use. You can even segment them or group them into folders so that your research activities won’t get too cluttered.
By using a reliable RSS feed reader, you can also get content opportunities that you can share with your customers – thereby building your credibility in the niche that you serve.
For the next issues, we shall be talking about “Analysis of the Competition” and how valuable competitive insights are provided by media monitoring.