Eight stages to your marketing strategy

A Gift for all members of the Great Business Platforms Business Club

Eight stages of your marketing strategy
This is about focusing all your efforts on:

Profitably communicating the ability of your company to deliver your customer’s needs/help solve their particular problems – and to do this better than your competitors.

See these five key elements of a strong marketing strategy.

Here’s what to do:

Stage one: analysis

Whats your organisation’s mission, vision and corporate strategy.
Review your internal resources.
Stage two: insight

Decide which Insights are core
Market intelligence.
Desk research.
Review other produced works
Learn from existing works
Action
Stage three: your target audience
Agree how to define your audience
Develop your needs driven segment
Agree your targeting strategy.
Be dynamic with your positioning

Review your customer profile.
Identify where your customer is
Learn from customer Data
Examine your competitive advantage for each chosen segment.
Carry out a customer analysis and start walking in their shoes. Really get to know them.
Stage four: goals and objectives

Objectives drive the organisation. They are a clear and concise statement of what you want to achieve.
Your marketing objectives will develop out of your business objectives.

Are they SMART and customer focused?
Is it clear what evaluation metrics/KPIs will be used to determine success?
Agree which of the following will deliver your business objectives?
Stage five: your Marketing Mix strategy

Develop a strategy for each of the 9 Ps to create your overall marketing mix strategy.

Stage six: developing a customer/audience proposition

Create a powerful, single-minded customer offer/proposition for:

The recruitment of new customers.
The retention of existing customers.
The winning back/reactivation of previous customers.
Also for cross-sell/up-sell opportunities.
Stage seven: implementation

Agree the responsibilities of key people/teams/agencies/third party suppliers (marketing, sales and customer services team).
Agree the budget
Agree all deadlines/the timing plan.
Include budget and timing contingencies.
Agree how you plan to evaluate your strategy.
Brief your Legal, Customer Services and other relevant departments.
Stage eight: evaluation and control

Read this industry guide on measuring marketing payback.
Then plan how each individual campaign will be evaluated (if this wasn’t done in stage seven, above).
See also

A definition of the term ‘marketing strategy’.
How the term market is defined.
Market analysis.
What is marketing?
Market overview.
Marketing as an organisational function and orientation.
Marketing as an interface between departments.
The marketing audit.
Your marketing plan.

The above eight point guide was copied from the Chartered Institute of Marketing, where I am a Fellow.
Sam Onigbanjo,FCIM
CEO
Great Business Platforms