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Marketing Strategy Outline
If you don’t have a marketing strategy, it’s time you did! Use this basic outline to get you started. Funny how once you have a starting point, it is just easier. This isn’t the definitive list, but it gives you an outline that you can flesh out to focus your thoughts and give your marketing activities direction. (It also forms a great basis for an advertising brief, a promotional brief or a pack design brief.
1. Strategy Rationale/ Background
Describe your environment. In what market do you compete? Describe your product/ service/ brand. How long has it been around, what has it achieved, how those that compare with the competition. Who are your competitors? How are they promoting themselves? What is their image? How are you different? Do you have any research on the market, what consumers want, which brands are growing, which are declining. Do you know the reasons for this?
2. Objectives
What are your objectives? Consider things like growth, new products, development of your direct sales force, increasing volumes or prioritising profit, changing your image via marketing activity or a new pricing strategy.
3. Key issues
Depending on your market sector, any number of issues could be at play. Is there a dynamic new competitor, has some major development changed the nature of your market? Has a major competitor been bought or sold, invested heavily in production? Have imports hit you? Is the exchange rate helping or hampering you?
4. Target Market/s
Describe your ideal target in terms of demographics (age, gender, income, geographical region) and then in terms of psychographics. Who are they and how do they feel about your brand (or at least about the category)? For instance, my burglar alarm is a grudge purchase, where I am excited to spend money on redecorating or a holiday.
5. Single-minded message
Instead of inundating your target market with a host of complicated advertising promises, what is the single most important thing you need to communicate? Is it price, service, peace of mind, aspiration, emotional benefits? Do you have the best guarantee, a long history of satisfied clients, an innovative new approach, something no-one else can offer?
6. Substantiation/ proof
Why should I believe your promise? Are you approved by some industry body? Do you have some award, some professional or celebrity endorsement? Do you have some magical ingredient that will convince me that your brand is better than anything else out there?
7. Tone
How do you want to talk to your target audience? Are you serious and reassuring, frivolous and fun? Do you need to be exciting and dynamic or solid and dependable? Can you use humour?
8. Support Strategy
What sort of marketing activities are already in place? Do you have reps calling on potential customers? Do you have a web site? What sort of things do you have in mind? Are you thinking about one-on-one communication or a major advertising campaign? Do you want to go with regional newspapers or national magazine advertising? Are you aware of your media options? Have you considered the role of promotions in your marketing mix? Have you made up your mind or are you evaluating your options? (And what are they?)
9. Timing
When do you need to start your activity? If, for instance, you sell fertiliser to the domestic market, you might want to time it for the rainy season. If you are in gifts, you might want to focus your activity on Christmas, Valentine’s and Mothers’ and Fathers’ Day.
10. Budget
How much are you going to invest in your marketing? And over what period? Do you plan on a long-term marketing approach, or are you going for a trial campaign? How much of your budget is available, and how much is pre-committed on things like conferences and client entertaining? Can you afford media advertising?
How do you plan to allocate your marketing budget? Do you have a good idea of the costs of print media, and producing your advertising material, posters and pamphlets?
This Marketing Strategy Outline should help direct your planning, but if you’d prefer professional marketing advice and implementation of your marketing plan, contact us NOW and let’s talk about how we can help you.
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