Here, we borrow from the legal process – attorneys generally hate it when marketers borrow from their profession (think “actionable”). The discovery process is a time for gathering information and documents to prepare for the next phase of the process. Discovery can be frustrating & time-consuming but, if done correctly, it is well worth the effort.
Think of the discovery process method much like a brainstorming session ~ the goal is to obtain a large amount of information & criticism is not allowed (there will be plenty of time for that in the next phases). For items that require self, and/or competitor assessment, honesty is the best policy.
So, let’s get started gathering…
Marketing
- Create a list of previous & current marketing tactics (online & offline)
- Gather previous market research obtained in the last 12 months
- Compile examples of marketing collateral, presentations, etc.
- Create a library of press releases, newsletters, etc
- Pull together website and/or blog information & statistics for the last 12 months
- List trade shows & industry events
- Do you participate in any co-op, partner or affiliate marketing programs?
- Assemble ROI information.
Products or Services
- Outline the products/services offered in 1 page or less
- Describe the key product benefits and competitive differentiators
- Accumulate relevant product documentation (descriptions, feature lists, etc)
- What are the top 5 most profitable products offered?
Sales
- Identify lead sources and, if possible, lead generation ROI
- Document the sales process on one page with approximate timeframes for each phase of the sale process
- Describe pricing rationale, previous use of incentives, discounts, etc.
- Assemble previous sales statistics for the last 2-3 years (separate new & existing customers)
Existing Customers
- Examine your customer database – what information is being collected & is it accurate? If available, analyze industry information by SIC or NAICs code, geography, etc.
- Brainstorm with the sales team (if applicable) to create a profile of your current customer – who is the hunter, the buyer, the influencer?
- What are their likes, dislikes, buyer motivations, etc.?
Competitors
- Identify your top 3-5 competitors
- Summarize each competitors’ strengths & weaknesses, customer base, marketing tactics, online presence, etc.
- Create a competitor comparison grid. Across the left, list your company & the competitors identified above. Across the top, list the key elements of why prospects purchase from you – product, price, availability, customer service, etc,)
- Assign a competency ranking of 1-10 (10 is best:think bowling, not golf) for each company & element.
And last….
What is a (reasonable) definition of marketing success?
