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Do you know how important the critical assessments of the external marketing environment are for an organizational sector?
If you are planning to become a strategic-level thinker in marketing, this article will provide you with the significant knowledge you must gain in your journey as a strategic marketing auditor. Let’s look at what it is.
Your organization is connected with many external entities from non-profit organizations and charities to membership associations and trade unions. While their missions and goals may differ, they all operate within a shared external marketing environment that has a significant impact on their ability to attract support, funding, and engagement. Critically assessing this environment requires a multifaceted approach.
Macroeconomic environmental – Broader environmental factors
- PESTLE analysis:
- Political: Government policies, funding regulations, international relations, political stability.
- Economic: Economic growth, interest rates, inflation, unemployment, donor funding trends.
- Social: Demographic shifts, cultural values, attitudes towards philanthropy, social justice movements.
- Technological: Digital adoption, communication platforms, data privacy regulations, fundraising innovations.
- Legal: Regulatory compliance, tax laws, data protection laws, intellectual property rights.
- Environmental: Sustainability concerns, climate change impact, environmental activism.
Microeconomic environment or Industry-specific factors
- Competition: Saturation of the organizational landscape, funding competition, and similar mission-driven organizations.
- Media landscape: Evolving media consumption patterns, influencer marketing, digital storytelling trends.
- Public perception: Trust in the organizational sector, media portrayal of non-profits, volunteer recruitment challenges.
Why is a critical assessment required?
- Identifying both threats and opportunities: Not all trends present challenges; some offer potential pathways for growth and innovation.
- Prioritization: Focus on the most impactful factors for your specific organization and target audience.
- Data-driven insights: Utilize quantitative and qualitative data to understand trends, audience preferences, and campaign effectiveness.
- Scenario planning: Consider potential future developments and formulate adaptable marketing strategies.
- The rise of digital marketing: Effective online presence, social media engagement, and targeted online fundraising are crucial.
- Donor/member expectations: Increasing demand for transparency, accountability, and personalized communication.
- The impact of global challenges: Climate change, pandemics, and political instability necessitate adaptable and responsive marketing approaches.
By critically assessing the external marketing environment, you can develop strategies to engage stakeholders, secure funding, and achieve their missions amidst a dynamic and complex landscape.
I hope you got an idea of the external environment perspectives you must consider in your business sector. Always connect this wisdom with your business and grow with your goals.
Picture Credit: https://strafasia.com/critical-analysis-of-new-wars-thesis/
