Core Competencies in Marketing

Core Competencies in Marketing

Core Competencies in Marketing

I write a Blog and I have 3 readers, so if you are one of them thank you reading. 

I have a personal commitment to never saying something negative about another soul online for any reason, ever. So I’ll never have gossip, but I don’t have a rule against mentioning someone’s positive attributes every once and a while so here it goes. 

The point of marketing is to promote products, services, or ideas to targeted audiences in order to achieve specific business objectives (thank you Chatgbt). This means scanning the marketplace, find a need and servicing that need in way that drives sales. Staying ahead of the competition means developing an organizations current skill while managing tomorrow’s opportunities. While it’s important for organizations to conduct market research and understand customer needs, it’s equally vital for them to focus on their core competencies.

A core competency is the skills and activities that give an organization a durable competitive advantage. It’s that which an organization can do technically better or more reliably. In the world is service based organizations this can mean having an efficient conveyance system, having empathetic staff, having exceptional technology ideas, being involved in the industry, offering exceptional training or being a thought leader within the industry. It necessitates that an organization create a stronghold in the skills they have while keeping an eye on the market for emerging trends. 

In the realm of service-based organizations, an organization’s core competency includes the collective skills and attributes of the people working there. It encompasses the skills, mindsets, and passions of those involved. 

I was scrolling social media today and I came across a great example of an organization using a core competence to attract business. Josh Bath (sorry I’m picking on you) posted ads for a free online training session on handing multiple offers. If you don’t know Josh is one of the BCREA’s trainers and he’s known for being one of their best. He’s also taking a diploma in education and he’s using his core competence in training to attract agents to his firm.

However, it’s more than just that. Josh enjoys training, which means that when he advertises himself doing something he enjoys, he attracts those who also enjoy being trained. In this way, he is building a community of like-minded individuals with similar values centered around education and knowledge in real estate. Advertising a core competency is excellent for recruitment and retention, and here’s why: it attracts people who appreciate training to a place where training is valued and enjoyed. Essentially, the customers receiving this service will get exactly what they are looking for, delivered in a high-quality format that is sustainable over time. There is a perfect alignment between the service offering and the values of those purchasing the service.

This alignment not only enhances customer satisfaction but also bolsters Josh’s reputation as a leader in real estate education. As he continues to promote this core competency, he not only retains a loyal customer base but also continually attracts new clients who are eager to learn from a trusted expert. This cycle of attraction and retention feeds into a sustainable business model where both the service provider and the recipients benefit. Moreover, by consistently delivering on his promise of quality training, Josh establishes a strong brand identity that sets him apart from competitors. This is critical in a market where consumers are overwhelmed with choices. Josh’s clear focus on his passion and proficiency in training not only creates a niche but also turns his services into a preferred choice for those committed to excelling in real estate.

This type of marketing brings out the best in him and the community. 

Not every organization has someone passionate about training readily available. Perhaps your organization is a creative marketing agency. In such a case, you’d want to highlight your creative side and convey what creativity means to your organization. Bringing creativity into the marketing world could involve showcasing exceptionally creative marketing ideas and advertisements.

However, be forewarned that by doing this, you’ll likely attract more creative types, and you’ll need to find ways to accommodate them. Just as Josh attracts students and trainers with his core competency in training, adopting a creative stance will draw creative individuals. It appears that the more you embody a certain quality, the more you attract it. Once you fully embrace this identity, you’ll need to make room for what it brings. This might involve exploring new forms of creativity in business modeling, organization, and lead generation.

Here are a few quick tips:

  • Engage with your staff by asking them about their strengths and what they would like to contribute to the organization.
  • Communicate with your customers to understand their perception of your core competencies. Inquire about what they appreciate and desire more of, as well as what they dislike and wish to see less of.

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