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
Review other produced works
Learn from existing works
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).
A definition of the term ‘marketing strategy’.
How the term market is defined.
What is marketing?
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.
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