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 have a mismatch in their approach.
Before we begin executing preparing your marketing strategy and execution plan, it is essential to understand your business strategy. We base our understanding of framework on the Boston Consulting Group (BCG) 5 Strategy Palette. It classifies prevailing strategy into one of 5 approaches. Business environments differ along three discernible 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 have a mismatch in their approach. Classifying your current approach is imperative for your marketing teams, agencies and brand strategists. It will help define the marketing approach.
Once we have an understanding of your business strategy we can recommend a marketing approach, tools and framework to plan, execute, measure and build on your strategic vision.
Focus on brand strategy and segmentation, determine avatars, build branding assets
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. Before we start your campaign, there are several brand elements you need. However, even before that, we need to determine who the market is beyond basic segmentation so we can accurately target the market with the right message, products and services. In this phase, we build the avatar. Once the avatar has been defined, and the journey plotted we can then come up with the appropriate campaign material.
Once the content has been produced, it’s time to move it to the targeted market, and move the avatar along the predetermined path and pipeline.
As we introduce new clients to the business we communicate with them regularly
Once you approve the strategy, we move you to the campaign and activation phase. Our key to this phase is adding your measurable data points that will provide insights for decision makers. There are a few primary metrics that must be in place – these are data points for – website traffic, mailers, social media and leads/sales data points. The avatars (customer and clients are directed to these points. We start with a Top Of Mind Awareness campaign. Your first spike in sales and leads comes from reconnecting with every clients and customer you have dealt with and then encouraging them to share.
As we introduce new clients to the business, they become part of the Top Of Mind Awareness campaign and messaging. From there we use the data to introduce additional tools for new leads and business. These include events, specialist publications, radio, TV and other mediums based on the data and feedback from focus groups.
Whether you have an event, mailer, digital campaign or sales drive, we look for ways to build some form of analytics into all activities.
Where there is no standard form of data collection, we come up with strategies for these set objectives. We think outside the box and use technologies such as QR codes, social media interaction, people counting technology, etc. to generate useful data. We then use the data to identify weak points in the campaign, sales or delivery systems. We use questionnaires, surveys etc. for feedback and to give the customer “avatar” more of what they are responding to and maximise returns on spend per avatar/customer. In this phase, we also account for macroeconomic trends that affect you micro-economic objectives. Our system takes predefined and relevant global and local market shifts as well as events and movements into account.
We compile, annotate and analyse data from mailers, web traffic, campaigns, activations, events, etc., and combine these with sales data, leads data, etc., into an easy to understand full picture for Phase 5, Consult and Adjust.
Look at the data against the set objectives and draw on the insights for business development and decision making.
Your strategy objectives set in Phase 1 determine the focus of the data to collect. This shapes phase 2 and 3 brand strategy and campaign strategy. In Phase 4 we compile, annotate and analyse data from mailers, web traffic, campaigns, activations, events, etc., and combine them with sales data, leads data, etc., into an easy to understand picture. In this phase, we now look at the data against the set objectives and draw on the insights for business development and decision making. We also present actions to take to capitalise on the trends that have the market buzzing. We also identify the gaps.
Once the gaps have been identified, we introduce additional tools to close them and assist with a push towards the business goals and objectives. The data can also be used to assess other departments, e.g. gaps in logistics, after-sales service, production, etc. Each of these business units serves the customer, and good customers can “leak” if any of these business units are not up to the client’s expectations.
Once complete we update your strategy and move through 360° back to business strategy.