You're juggling competing product marketing initiatives. How do you decide what takes top priority?
In the throes of multiple marketing initiatives, identifying which to prioritize can make or break your strategy. Here's how to effectively allocate your focus:
- Assess the potential impact. Evaluate which projects could have the greatest effect on your bottom line.
- Consider deadlines and resources. Align your efforts with time-sensitive commitments and available manpower.
- Monitor market trends. Stay responsive to shifts that could necessitate pivoting priorities.
Which criteria do you find most crucial when prioritizing marketing efforts?
You're juggling competing product marketing initiatives. How do you decide what takes top priority?
In the throes of multiple marketing initiatives, identifying which to prioritize can make or break your strategy. Here's how to effectively allocate your focus:
- Assess the potential impact. Evaluate which projects could have the greatest effect on your bottom line.
- Consider deadlines and resources. Align your efforts with time-sensitive commitments and available manpower.
- Monitor market trends. Stay responsive to shifts that could necessitate pivoting priorities.
Which criteria do you find most crucial when prioritizing marketing efforts?
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The priority can depend on which initiative is ready faster and which team is more competent to deliver on time. Conflicting priorities are an every day situation and need to be dealt with in a somber manner
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The approach will be based on balancing of the following factors: (1) The objective of the organization - long term/short term; garnering numbers while strengthening the bottom line; garnering numbers, bottom line taking a back seat (e.g., entering a market already with established players); building a new category (low volume, high investment initially); build just brand awareness for long term gain (2) Preparedness/ Execution capability of the team(s) considering the timeline (3) Budget/ Resources available (4) The above are all a function of the organization's culture/ DNA which may vary with the competitors' such as risk-taking ability or start slow, then keep on building or go the whole hog from the very beginning
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As prioridades de Marketing estão ajustadas com os produtos nível A da empresa, aqueles que tem maior rentabilidade e grande volume de vendas, que são o foco da empresa. Em seguida os produtos inovadores e também os novos que estão sendo lançados, que precisam de apoio no lançamento.
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Start by considering which project will help meet the main goals or targets, like increasing sales, boosting brand awareness, or engaging more customers. The initiative with the biggest impact should usually get priority. Look at which projects have tight deadlines or need immediate action. Anything time-sensitive might need attention first. Check if you have the right resources for each initiative—like budget, team members, or tools. If one project already has everything it needs, it might make sense to start there. Some initiatives might offer more lasting results than others. Prioritize projects that can build lasting brand value or keep bringing results over time.
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When prioritizing marketing efforts, I find the most crucial criteria to be a balance of impact and alignment with strategic goals. Initiatives that have the potential to significantly impact revenue, brand growth, or customer acquisition always come first. You want to focus on what moves the needle.
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I suggest to always prioritize product marketing initiatives by aligning with strategic goals while maximizing ROI. *Strategic Fit: Does it support the company's vision and objectives? Keep your eyes on the ball. * Impact: Quantify potential ROI and impact on key metrics. Is the juice worth the squeeze? * Feasibility: Consider resources and time to market. What will you deprioritise to deliver this? * Market Timing: Address time-sensitive opportunities or threats. Is the window of opportunity closing? Use a scoring system or matrix to keep subjectiveness at bay and regularly review and adapt priorities as needed.
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Acredito que priorização é sobre alinhamento. Quando o time de Product Marketing está alinhado com os impactos que o negócio espera, fica mais claro quais iniciativas devem ser priorizadas. E, claro, esses impactos precisam se refletir em KPIs, para que a equipe tenha uma visão nítida do que estamos buscando alcançar.
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We operate in a dynamic world. The priorities can change due to competitors, stock holding, profit, purchasing requirements, or slow sales. These have to be considered and appropriate decisions made according to the company’s goals
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Managing these processes effectively and efficiently requires maturity and experience, combined with a keen strategic vision. To the point, having a vision of the big picture of the business, or as someone I admire says "Seeing the forest and not just one tree" in order to be able to understand, at 3 levels of scope - Long, Medium and Short term impact. Like an orchestra, which works marvellously together and every now and then there's a solo, but it's absolutely planned. Ideally, if it's a daily process that brings clarity, making the right decisions easier and more frequent. On top of that, accept taking risks, take the call. Commitment The variables suggested in the article come from downstream, but it's important to look upstream.
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To prioritize product marketing initiatives, I focus on: Business Impact - Highest revenue or brand growth potential. Alignment with Goals - Directly supports current business objectives. Urgency - Time-sensitive initiatives take precedence. Resource Feasibility - Prioritize based on available resources. Stakeholder Input - Insights from key stakeholders help clarify priorities. Long-Term Brand Value - Favor initiatives with lasting brand benefits. This framework helps me focus on what drives the greatest value with optimal timing and resources.
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