Local markets are defined by the customers within them.
Each market is different and subject to regional attitudes and cultures. In
order to be effective, local marketing strategy needs to employ highly targeted
marketing messages created by field sales agents and distributors who know the
market best. If organizations want to succeed at the local level, they must be
“local-ready”, a standard that requires focus on four key competency areas: 1. Marketing
Asset Management: The ability to provide distributed channels with ready
access to up-to-date materials and to enable them to customize messaging for
their local market. 2. Campaign
Management: The ability to provide distributed channels with multi-channel
turnkey campaigns as well as manage lists. 3. Workflow:
The ability to leverage automation to streamline collaboration and approvals
and balance time spent on execution versus strategic initiatives. 4. Budgeting:
The ability to effectively manage the cost of marketing assets. Automate the
allocation of marketing funds across sales/distribution channels. The challenge of local marketing is that it requires a
certain understanding of approval workflow between corporate and field sales
channels. Additionally, budgets, brand control and compliance must all be
aligned between sales agents and corporate. Naturally, some organizations are
better equipped than others to handle this balancing act. Many tend to fall in
the following categories as they relate to the competency areas above: Novice Organizations Organizations at
this level simply do not have the foundational processes or technology in place to be effective in the given
local-ready competency area. If your organization is in this situation, the good news is that
there are likely many productivity
and compliance improvements on the table waiting to be grabbed. Intermediate Organizations These
organizations are employing some proven practices, but they are not integrated or
are limited in scope. With
respect to marketing assets, it is likely difficult for local sales channels to
access compliant, up-to-date marketing materials. Campaigns may not be executed
in a consistent fashion engaging local sales channels. From a workflow
standpoint, developing approved, localized marketing materials may be resource
intensive and time consuming. Limited controls may be in place for managing
marketing costs either centrally and/or across local sales channels. Advanced Organizations A Prepared
organization is on its way to driving future returns on their localized
marketing investments but has room for improvement. If technology is being used
for marketing asset management, it may not be fully utilized or its
functionality might be limited. With respect to campaigns, they may be limited
in frequency, do not integrate multiple channels or do not fully engage local
sales channels. Some workflow automation may be in place for localized
marketing initiatives, but resources are likely still strained. From a
budgeting standpoint, cost tracking may be focused on central marketing
functions with limited tracking of marketing expenditures across local sales
channels. Local-Ready Organizations Organizations at
this level are getting the most out of their field sales force, agents and
distributors. With respect to marketing assets, they are localized, brand and
regulatory compliant and easy-to-access by distributed sales channels.
Campaigns which resonate with local targets likely occur on a regular basis
with little effort on the part of local sales channels. Processes are likely
automated without heavy reliance on technical resources and freeing up
marketing to focus on strategic initiatives. From a budgeting standpoint, the
cost of marketing materials and campaigns is likely well managed both centrally
and across local sales channels. Building a local-ready
organization is an on-going journey. And that journey, as well as your
organization’s position on the local marketing continuum, is determined by
several factors – overall marketing strategy, desired customer experience,
business model and the competitive environment. Localized marketing isn’t going
away so you need to set a course that aligns with your corporate goals and
objectives. If you’d like to measure your local-ready marketing maturity
level, set aside a few minutes to take the DocuStar
Local-Ready Marketing
Assessment.  |
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