Growth

How to create a marketing strategy

A marketing plan aims to build a connection between a brand and its defined audience. It is a means of launching a brand as a respectable brand in its industry. The plan should aim to differentiate the brand from its competitors to ultimately build customer loyalty, once positive communication has been implemented. The plan should also enable the brand to understand its customers and implement a targeted message to them. The brand should then be able to communicate to its audience through targeted marketing through the most applicable channels in order to create memorable brand experiences and increase sales leads.




What should be included in your strategy?

  • EXECUTIVE SUMMARY
  • SWOT ANALYSIS
  • OBJECTIVES
  • BRAND BLUEPRINT
  • COMMUNICATION STRATEGY
  • BUDGET
  • SCHEDULING AND IMPLEMENTATION
  • EVALUATION AND CONTROL



SWOT ANALYSIS

The SWOT analysis involves looking at the brands’ internal and external factors, which may have an impact on business. These are their strengths, weaknesses, opportunities, and threats. It is important to remember that opportunities can be threats and threats can be opportunities. A SWOT analysis enables a brand to examine its business performance and prospects. The result of the SWOT analysis will enable a brand to build upon its strengths, improve its weaknesses, take advantage of its opportunities and protect itself from any external threats.


COMPETITOR ANALYSIS

The competitor analysis enables a brand to understand the industry from a competitive viewpoint and will enable a brand to differentiate itself from other brands and deliver its Unique Selling Proposition (USP) throughout targeted messaging. It is important to thoroughly research all 4P’s of marketing including Price, Product, Place, and Place.


TARGET MARKET RESEARCH

Target market research enables a brand to understand the wants, desires, and needs of its consumers which will help the brand to effectively target its customers with the correct Price, Product, Place, and Promotional strategies. The target market research will also clearly indicate which marketing channels if most suitable for the brand when targeting consumers through paid and organic advertising.


TARGET MARKET RESEARCH

Target market research enables a brand to understand the wants, desires, and needs of its consumers which will help the brand to effectively target its customers with the correct Price, Product, Place, and Promotional strategies. The target market research will also clearly indicate which marketing channels if most suitable for the brand when targeting consumers through paid and organic advertising.


AUDIENCE PERSONAS

Personas are created as archetypes of end-users to help guide the project development. These personas represent the target audience. It identifies consumer expectations, motivations and goals to align the project purpose with the audience need. Personas are derived from the target market research findings and this enables a brand to understand the target audience and provides valuable insights about a specific customer segment such as demographic information, purchase journey map, decision-making processes, psychological triggers, and the specific attitudes and concerns.


OBJECTIVES

Objectives should be SMART – Specific, Measurable, Attainable, Reliable and Time-Bound. The goals influence the marketing mix, provide campaign timelines and suggest the best-suited communication activities.

Example: 15% of revenue generated online within 6 months of the e-commerce store launch.


BRAND BLUEPRINT

A brand blueprint sets the foundation of a brand. The process involves summarizing a brand into different components by asking what, how, to whom and feeling. A brand blueprint consists of a variety of properties including a brand purpose, brand positioning, brand vision, values, visual and verbal language, brand personality and a brand mantra and tagline. These elements give a brand a reason to exist, it is customer-centric and defines the brand’s uniqueness in comparison to its competitors.


COMMUNICATION STRATEGY

The brand communication plan not only identifies the key marketing messages but aims to build relationships with customers to build brand loyalty and customer advocacy. The purpose of a communications strategy is to position the brand in the minds of the consumer. The strategy should remain consumer-centric and should remain relevant to the characteristics established in the analysis of the market.


3Ps of Marketing Communication Strategy

Your communication plan can only be developed once you have established which marketing strategy you will use. For ultimate performance, it is advised to combine all three strategies (push, pull and profile strategies).


BUDGET

The budget includes cost estimates of each media selection in the marketing communication mix.


SCHEDULING AND IMPLEMENTATION

Marketing communications should start before the product or service is launched into the market. Before any designs or developments take place, it is important to present the strategy to all the stakeholders to ensure integration.


Contact Plan

Contact points should serve the purpose of the brand to influence the attitudes and behaviours of the target audience. Points of contact are the points consumers comes into contact with when engaging with the brand from the first impression to the last and can either be planned or unplanned. Contact points that are planned are initiated by the brand and unplanned points of contact are initiated by the consumers.  Points of contact between a brand or organization and any stakeholders must be geared towards serving the brand’s purpose. These purposes are the driving force between influencing stakeholders in the way they feel, think or act upon the brand or organization.


EVALUATION AND CONTROL

It is recommended to have a monthly strategy review whereby progress and KPI’s are reported on. The objectives should be measured to define the monthly ROI through implementation of the measurement metrics. The strategy should be amended based on the results. KPI’s enables a brand to measure performance.





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