Background: I work for a shopping mall mgmt company in China. Our mall is 10 yrs. old and we are lagging behind the new malls that are opening (the others are mostly high-end malls; we are a wide range). Our new goal from the big boss is to double the income from our in-house Marketing dept. (We sell ad spaces around the mall, and rent out our event spaces) Our team has decided to reorganize the structure of our Marketing dept.’s O-chart (first dept., then all others will follow). But of course, that won’t be enough. We need to update the entire processes and hire more qualified managers. FYI we don’t currently have a Marketing strategy or plan to work off of. I’m new at this job, but I’d like to help our company as much as possible.
What kinds of things should be included in the marketing DEPARTMENT mission? And what KPIs are important for our restructuring? Thank you for your help!
Jay’s Answer: Without a strategy, you’re going to be doing a lot of guesswork, and likely without any solid data to help you make informed decisions. Now’s a good time to understand who your customers are exactly. Why do they come to your mall? Who would your older mall be more attractive to? What can you offer that other (newer/fancier) malls can’t? How can you attract more people that are likely to prefer your mall?