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Winning Marketing Strategy Tips
I helped a business achieve $1.8M in revenue within 12 months. It was an incredibly tough gig with not much faith in marketing and a decrease in YoY marketing spend. The marketing team engagement was pretty low with a high staff turnover.
Here are my simple winning marketing strategy tips that are my go-to for any new client and brand I am working with:
1. Hire awesome & experienced marketing legends!!
Share vision, goals & let them help you shape the marketing strategy. Work together as a team, one goal one dream!
Give your team autonomy, let them take risks, hustle, have fun and most importantly instil trust and faith to allow your team to perfect their marketing craft!
2. Always undertake customer insights & analysis
I see a lot of marketers just launch straight of the back into developing a marketing campaign that has a killer offer, striking creative and copy. Sure it looks amazing but it is lacking in an overall strategic approach or complete picture prior to launching to market.
It is therefore important to consider what is your ideal customer profile, are you targeting the right customers with the right offer? What are your customers past buying purchase behaviour, the type of customers you are aiming to acquiring, their CLV and retention rate? These are all incredibly important customer insights to consider and DataClique Marketing can help you with this if you lack the internal resources and capability to do this.
3. Perfect your strategic brand positioning
Think about what your brand stands for. To whom are you to what?
How does your brand positioning stack up against your competitors? Does your your brand have a clear vision, mission, brand identity and tone of voice. Assess the consistency in your brand voice and creative expressions across all of your channels.
Don't be afraid to invest in a good brand agency if you lack the internal expertise and remember they are also the brand experts. DataClique Marketing can help you with this process. We will undertake a formal brand tender process by going out to at least 2-3 brand agencies who are all giving the same brand brief with the same tasks and timeframe to respond. Everyone is treated equally.
4. Validate your product & pricing mix
Validate if your product and pricing mix is right by doing the following:
Results: assess the overall performance of your product & pricing mix by analysing the overall sales, cost of goods sold, customer transactions against each product line, overall profitability, demand profile analysis and most importantly what is the profitability.
Improve: Collect customer feedback or go one step further and do market research through simple choice modelling if launching a new product to market. Choice modelling is giving customers a range of different options to choose from. Utilise your existing customer base or test against new customers by purchasing external data lists. This can be a very cost effective approach vs. qualitative research.
Refine your product/pricing mix based on the market research and customer feedback.
Relaunch: your new product and pricing strategy to market and always have a "test, learn & refine" approach with your product and pricing strategy by making the necessary changes. It is never a set and forget strategy.
5. 𝐁𝐨𝐨𝐦 𝐧𝐨𝐰 𝐫𝐞𝐚𝐝𝐲 𝐭𝐨 𝐚𝐜𝐭𝐢𝐯𝐚𝐭𝐞
- Roll out integrated marketing activities such as "permanent-on paid digital media", brand awareness if suited for your brand (programmatic, outdoor, radio) at a local area marketing level, SEO and customer lifecycle strategies utilising marketing automation.
If your business needs help with implementing the above winning marketing strategies, get in touch with Leeann at DataClique Marketing.
Author: Leeann Ellison, Founder/Director, DataClique Marketing