If you took some time to listen to my guest
podcast with Desiree Scales
and Joe Magennis a few weeks back, we
talked about how important it is for small and medium size businesses to have a
marketing strategy in place before designing a powerful website. We did not
delve into specifics then, but agreed that I would return to the subject and
provide a few tips about marketing strategy in a follow up blog post.
What is marketing strategy? Wikipedia defines marketing strategy as “…a written plan that determines the choice of target market segment, positioning, marketing mix, and allocation of resources.”
In more simple terms, think about marketing strategy as a GPS device for your business where you plug in your destination (your business vision and short- and long-term goals) and use it to chart potential ways to get there (your marketing creative and execution).
A well-defined marketing strategy should
directly support your business plan. It doesn’t change too often and is usually
focused on a long-term approach. When thinking about marketing strategy
consider the following tips:
·
Focus on the Big Picture
·
Stick with it for a few years (3-5
years)
·
Center it around customer/client
· Review, observe, and adjust it periodically based on market conditions
There are many marketing strategy models to
consider. This post is too short to explore them in depth now. However, the
most common ones are:
·
The Marketing Mix
Model (also referred to as the 4Ps)
·
The Ansoff’s Product
Marketing Matrix
·
The Porter’s Five Forces
Model
You, as a business owner, are free to choose what “go-to market” strategic model fits your individual business best i.e. the model that best supports and communicates your company’s culture, competitive advantage, and marketing mix (product, price, place, and promotion). Then use the model to build your marketing plan (messaging, branding, positioning) and select the media (traditional media, social media, website) to execute it. A perfect example was Jeff Bezos’, (CEO of Amazon.com) YouTube video announcement about Amazon’s acquisition of Zappos.com last week. He used social media (an 8-minute video) to explain Amazon’s strategic marketing model centered on “Customer Obsession and Innovation.”
Personally, I thought it was a quick and brilliant way for Amazon.com to communicate the company’s culture (marketing model) and its vision for Zappos.com. Obviously, this communication piece was a part of their overall marketing strategy and fit perfectly with their brand and innovative business model.
Now take a look at your existing marketing
strategy. Does it fully support your business plan and your brand? If not, you
need to reevaluate it. You know where you want to take your business, and a
well thought out marketing strategy will help you get there.


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