Marketing 101: How to Get Started

by James Schoenike, Quasar Distributors, LLC

The definition of marketing is quite simple: the means to develop communication that encourages recipients to change or modify their behavior. So simple, yet so hard to accomplish.

The key to success for any marketing campaign is to develop measurable objectives. Developing well-crafted, quantifiable objectives that complement the company’s overall business plan is the first step to a great marketing program. If you don’t already have an ongoing marketing program in place, getting one started will be an excellent catalyst to bolster sales programs. Make sure you know your target audience and the mediums to which they pay the closest attention (brochures, whitepapers, media articles, etc.).

When you begin brainstorming and planning for a marketing campaign, review your company's business goals, objectives and key messages to ensure your efforts will align with these ambitions. Consistent messaging is important to the success of any communications effort. Knowing your desired outcomes will help you prioritize tasks. If it’s not clearly documented, the company’s positioning in the marketplace, and core-selling proposition should appear throughout the marketing campaign. Every objective, strategy and tactic will revolve around this thought, idea or concept.

A good objective has two major components: a measurable goal within a specific timeframe. The objective should support or enhance the company’s position in the marketplace. Following is an example: Increase enrollment by 15 percent in the XYZ Value-add Program by December 31, 2007. Another example: Develop new sales messages for the Schwab Conference to market/communicate the growth of the XYZ Fund family.

Develop short-term and long-term objectives to appropriately manage immediate needs and future goals. Marketing should be viewed as an investment, not an expense. Many case studies exist that prove marketing’s link to top and bottom line profits, but the payoff may take some time and effort.

When you develop objectives with clear, concise components, it’s easy to see the Return on Investment.

Keep in mind that a well-developed marketing campaign expands across many disciplines, including advertising, Customer Relationship Management, public relations, sales and so on. Objectives should span across all these disciplines, and your budget and strategy will determine the appropriate marketing mix.

James Schoenike is the president of Quasar Distributors, LLC, a wholly owned subsidiary of U.S. Bancorp that underwrites and distributes mutual funds. Quasar is member of the NASD and one of the largest 3rd party mutual fund underwriters in the country.