PHASE 1 – Business Strategy Framework
Before we begin preparing a marketing strategy and execution plan, it is essential to understand the business strategy.
We base our framework on the Boston Consulting Group 5 Strategy Palette. It classifies all the prevailing strategies into one of 5 approaches. Business environments differ along three discernable dimensions predictability (can you forecast it), malleability (can you either alone or in collaboration, shape it) and harshness (can you survive it). Combining these dimensions into a matrix reveals five distinct environments each of which requires a distinct approach to strategy and execution.
According to BCG research firms that successfully match their strategy to their environment realise significantly better returns. However, up to 50% of the companies analysed mismatch their approach.
Classifying your current approach is imperative for your marketing teams, agencies and brand strategists. It will help define the marketing approach. We work closely with Thought Leaders such as Professor Anton Roodt to help you with your strategic thinking so you can classify and clearly define your business strategy approach.
Once we have an understanding of your business strategy we can determine the marketing approach, tools and framework to plan, execute, measure and build on your strategic vision.
Marketing Strategy Framework & Metrics
Once we understand your business strategy, we are in a position to put together a roadmap, campaigns and tools to drive your objectives.
Setting Data Points based on Business Strategy
The ability to track hard and soft marketing data results and micro and macro trends are overlooked or given lower priority than the campaign itself. A lack of data from marketing events and activities makes assessing progress a daunting task and budget is often increased or decreased on soft qualitative data rather than on hard quantitative data.
Your Business Strategy
Our focus is not just producing high-quality material and campaigns – our focus is also on generating data that helps you with business strategy. We:
- Listen to your business strategy and goals so we can create campaigns that generate the required data
- Create the brand elements and run campaigns
- Run post-event campaigns to maintain momentum
- Provide feedback and recommendations
Hard Data Points
We set hard data points on digital platforms, but also include data from offline events and marketing activities. Offline [Bricks and mortar] activities require careful preplanning so the right data points for the objectives can be set and collected.
Data collection points at events and activations, when connected to social media for live audience interaction are a powerful tool. The long-run objective is to connect your potential customers to a permanent data point that can be used to develop their customer journey.
Soft Data Points
Soft data or qualitative data matters, but can be tricky to quantify. We have systems in place to take soft data and chart it alongside hard data to make assumptions and test correlations on a regular basis.
Once goals, objectives and metrics are determined, we move to Phase 2 and focus on brand strategy and segmentation, determine avatars, build branding assets and launch the campaign.
We have adopted the 15 essential metrics for marketers as the basic framework we build on for you.
Click the link to download our brochure to find out what they are.