Marketing Strategy

Marketing Strategy | Marketing Catalyst

If you want to increase the probability of marketing success, the best place to start before beginning any marketing activity is with strategy. Sounds simple enough, doesn’t it? And yet, it rarely happens.

Why?

We often see marketing activities have a tactical or ‘execution’ focused approach, and this is fundamentally because strategy isn’t easy. But just because it isn’t easy, doesn’t mean that we shouldn’t do it.

The Challenges in Developing Marketing Strategy

If strategy was easy, everyone would do it, right?

The challenges in developing marketing strategy include:

  • It’s not always easy to see the big picture of where you want to take your business or your marketing department, especially as you work in it, day in, day out, and are often “too close to it”. Sound familiar?
  • It’s not easy to find the time to set aside a meaningful block of time purely for working on the business. This is the big one. Most of us are up to our necks in it working on the day-to-day to get the time to work on the business.
  • It’s not easy to envisage where you want to go, and then plot a path of how to get there. Not everyone has the skills and logical process of a strategist, and that’s ok. Strategists don’t tend to be very good at accounting, for what it’s worth.
  • It’s not easy to know where to start . . .

How to Develop Your Marketing Strategy

We recommend the following techniques to assist in developing your marketing strategy.

Start with questions, rather than looking for solutions. Pertinent questions include:

  • What do our customers really want?
  • How do we know they really want it?
  • What are we doing well and want to keep doing more of?
  • Where can we improve?
  • What are the threats on the horizon?
  • What are the opportunities within our grasp?
  • Who can we partner with to add value to our offering?
  • What is the one change that could make the biggest difference to our business?
  • Do we still want to be in this business?
  • If not, what’s our exit strategy?
  • How are we going to grow next year?

What to Do Next…

  • If you are asking questions, then by all means . . . listen, listen and listen to as many quality voices as you can. No-one has all the answers.
  • Set aside time to work ‘on’ the business and make it non-negotiable for everyone
  • When you do set aside that time, insist on the full focus of all attendees during your strategy session
  • Circulate a strategy workshop agenda a couple of weeks beforehand
  • We recommend that the workshop agenda has a skeleton to keep the day on track, while being open enough so that the outcomes aren’t foregone conclusions
  • If you don’t think you have the skills in-house to run a strategy session, then engage a strategist to run the workshop for you.

Key Take-Outs from Marketing Science for Strategy Development

Our advice is underpinned by the evidence-based ‘Marketing Science’ insights from the Ehrenberg-Bass Institute. Key findings from Ehrenberg-Bass Institute regarding marketing strategy include:

  1. Media
    Aim to reach as many potential buyers in the category as possible. The most effective ways to reach large numbers of buyers is with mass reaching media such as television, radio, print, cinema, outdoor media and of course, mass reaching digital media such as online publications.
  2. Buyer Behaviour
    Aim to get more non-buyers or light buyers to buy your product or service rather than focusing on the heavy buyers. Brand growth comes from getting more lighter buyers to buying your product.
  3. Advertising
    The Ehrenberg-Bass Institute advocates the ‘Awareness-Trial-Reinforcement’ Model to:

    1. Make buyers aware that you have a product or service to suit their needs
    2. Encourage buyers to trial your product and see for themselves how great it is; and
    3. Remind buyers that you are still here, as buyers have a lot going on in their lives and need your brand to be reinforced in their memory structures so that they recall you at the most important time of all – purchase time!

Example of Marketing Strategy Success

It’s the first of January and you’re sitting in your office, it’s 42 degrees outside, it’s dusty, swarms of flies litter the air and you’re wondering “How can I be number one this year?”

Could a small, outback Hyundai dealer climb the top of the mountain to be crowned number one against 169 national competitors?

The short answer is yes.

Read More

Types of Marketing Strategy Services We Develop

We develop marketing strategies that encompass a range of key marketing functions such as:

  • Overall business marketing strategy
  • Advertising strategy
  • Brand strategy
  • Digital strategy
  • Database marketing strategy; and
  • Social media strategy.

Kinds of Strategy Workshops We Deliver

We run strategic workshops on the following bases:

  • Quarterly Plans – 2-hour session
  • Half Year Plans – half a day session
  • Yearly Plan – full day session

Book a Free Consultation

If you need a hand in developing your marketing strategy or you are not quite sure where to start, then why not take advantage of our first free consultation? What have you got to lose? We might just be the Adelaide marketing agency that you are looking for to help you take your business to the next level.

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