Our approach to marketing isn't about extending budgets, but squeezing profits out of every corner possible. Results are achieved through strategic thinking and an understanding of the consumer and what makes them tick.
We view marketing as the core of the business development process and believe new initiatives should only take place if it makes sense and a result is realized. Marketing just for the sake of marketing is ineffective and expensive.
Viewing your marketing activities as individual silos create a vacuum with lost opportunities. You must find creative ways to tie them together in order to maximize the return on investment. 1+1 isn't 2, but 11 if the relationships between your various initiatives are in sync.
Marketing strategy doesn't come from a manual. It comes from analyzing the obvious and exploring the not so obvious. Are you trying new ideas? Are you stuck in the same path year after year? Even a successful company may be leaving substantial revenue on the table without exploring ideas that seem uncomfortable and downright wild. We focus on pushing the edges of ideas then reel in those that appear to have the greatest opportunity for growth potential.
There are countless ways to market any product or service. The list goes on and on. However, that doesn't mean all of them should be attacked. Being mindful about where to allocate resources, budgets and effort is the surest way to manage marketing budgets and hit critical mass with your marketing activities. This ensures that your marketing budget becomes an investment versus an expense.
If you aren't tracking your marketing initiatives, you need to. It's not always cut and dry, especially when considering the brand building aspect of the luxury market. However, there are a variety of ways you can analyze the data to extract the results and make informed decisions on what's working and what's not.