Developing a Marketing Strategy for Growth: Planning for 2023
•Download as PPTX, PDF•
0 likes•316 views
This document outlines a marketing planning process for growth in 2023. It discusses determining goals through situation and organization analysis using tools like SWOT. Focusing efforts by defining target audiences through personas and customer journeys, and developing messaging strategies. Delivering the plan by selecting appropriate tactics to achieve goals, and implementing tactics cohesively. Enhancing efforts through data analysis, noting the limitations of attribution, and emphasizing the importance of strategy through frameworks and iterative evaluation.
Recommended
More Related Content
What's hot
What's hot (20)
Similar to Developing a Marketing Strategy for Growth: Planning for 2023
Similar to Developing a Marketing Strategy for Growth: Planning for 2023 (20)
More from NapierPR
More from NapierPR (20)
Recently uploaded
Recently uploaded (20)
Developing a Marketing Strategy for Growth: Planning for 2023
- 1. DEVELOPING A MARKETING STRATEGY FOR GROWTH: PLANNING FOR 2023 October 2022
- 2. 2 2 Objective To help you create a better, more effective marketing plan for next year.
- 3. 3 3 Agenda • Planning is never perfect • The biggest mistake in marketing planning • The 7 Steps Model • Napier’s 4-Step Process – DETERMINE – FOCUS – DELIVER – ENHANCE • Putting it all together • Summary • Q&A
- 4. 4 4 Planning Isn’t Perfect… • Your budget will usually be fixed before planning – Typically it’s hard to move the budget beyond a small window – Usually defined by “what we did last year” • The top-level goals will be decided by others – Others will want leads or sales or awareness, etc • Even so, good planning can dramatically improve your results
- 5. 5 5 Processes Always Make Things Easier I’ll present a process that you can work through, step-by- step, to make it easier to create your marketing plan
- 6. 6 6 There Isn’t ONE Right Way to Plan Your Campaigns… • There is no one way to create a plan • Just look at the “magic number” of steps on Google suggest • But according to Google there are lots of wrong ways to plan – 56M matches for “marketing plan mistakes”
- 7. 7 7 The Biggest Mistake: Not Thinking Strategically • We often see: – Little or no analysis – Limited audience research – Repeating a campaign similar to the previous year – Focus on “getting the numbers done” • Putting the work in up-front is difficult, but makes the rest of the year much easier
- 8. 8 8 The Seven Steps Phase 1: Formative Research Analyse the situation Analyse the organisation Analyse the audience Phase 2: Strategy Select goals Create action and response strategies Develop the messaging strategy Phase 3: Tactics Select communication tactics Implement the strategic plan Phase 4: Evaluation Evaluate the strategic plan Taken from “Strategic Planning for Public Relations” by Ronald D. Smith
- 9. 9 9 The Napier 4-Step Process DETERMINE Analyse the situation Analyse the organisation Set Goals FOCUS Analyse the audience Set action and response strategies Develop the messaging strategy DELIVER Select communication tactics Implement the strategic plan ENHANCE Continuous evaluation and enhancement
- 10. 10 10 DETERMINE: Analysing the Situation & Organisation • Helps to clarify situation with tools – E.g. SWOT, Porter’s Five Forces, PEST, perceptual maps, etc. • Often organisation requirements are dictated – E.g. CEO wants to double sales in five minutes – But needs to be clarified in the plan • Goals often defined by organisation – But we can frequently refine them
- 11. 11 11 Expanding Goals • Assume your CEO wants to double sales in a year… • How can you do this? – Are prospects easy to convert? – Do you have enough prospects? – If not, how will you generate leads? – If you are generating leads, are sufficient people aware of you to enable lead generation to be effective? • Allows development of marketing metrics that relate to goals
- 12. 12 12 Simple Marketing Funnel Models Help Awareness Interest Desire Action ToFu MoFu BoFu Awareness Consideration Conversion Awareness Evaluation Purchase Delight
- 13. 13 13 Estimating Budgets with the Funnel Model 10000 Google searches 4% CTR 400 website visitors 10% conversion 40 leads 50% are potential customers 20 MQLs 50% ready to buy 10 SQLs 50% conversion rate 5 sales £1000 average customer value £5000 generated
- 14. 14 14 FOCUS: Audience and Messaging • Clearly defining the primary and secondary audiences is critical – Personas – Customer journeys • Understand the audience to develop action and response strategies • Messaging should be built based on knowledge of how we intend to change behaviour
- 15. 15 15 What is an Action and Response Strategy? • You do something that creates a response in the audience • Examples: – Engage a brand ambassador – Advertising – Technical literature explaining benefits • Consider motivators and drivers for your audience – What do they care about – What makes them look good? Picture: David Shankbone https://commons.wikimedia.org/wiki/File:Kim_Kardashian_2009_Tribeca_portrait.jpg
- 16. 16 16 Example Customer Journey • Mike is looking for a new car… • He sees TV ads for companies such as Cinch • He goes to the Isle of Wight festival and sees Cinch are a sponsor • He loves cricket, and has an England shirt that has the Cinch logo as they sponsor England cricket • He decides to look on the internet for cars, and remembers Cinch. So he goes to their Trustpilot reviews • He finally puts “cinch cars” into Google and clicks the top result
- 17. 17 17 DELIVER: Selecting and Implementing the Tactics Tactics should be selected to achieve goals Tactics chosen will determine budget allocation Ideally tactics should work together Siloed marketing teams are ineffective Content reuse is critical in B2B technology
- 18. 18 18 Considerations for Tactics Is the tactic effective for your goal? • PR sucks for lead gen, but is great for awareness • If no one knows your solution exists, Google Ads might not be a good idea Will your tactic reach your audience? • CEOs sometimes have someone to read their emails • Junior engineers might not be active on LinkedIn Will your tactic engage the audience at the right time? • Mindset and intent are crucial
- 19. 19 19 ENHANCE: Digital Makes it Easy, Right? • Digital produces a lot of data • But it doesn’t necessarily provide the information you need • Be careful of looking at vanity metrics or attribution figures
- 20. 20 20 Attribution is not Incrementality • Attribution assigns a portion of the result (sale, lead, etc) to an action • Incrementality is the difference in performance between running and not running the tactic • Attribution is over-simplifying cause and effect. For example: – Mike Bossy was a better ice hockey player than Wayne Gretzky – Ali Daei (Iran) was a better player than Lionel Messi – Jerry Rice couldn’t have been a good wide receiver • Usually lots of factors will determine your campaigns success Picture: https://commons.wikimedia.org/wiki/File:Wgretz.jpg
- 21. 21 21 Remember Our Customer Journey? • Mike is looking for a new car… – He sees TV ads for companies such as Cinch – He goes to the Isle of Wight festival and sees Cinch are a sponsor – He loves cricket, and has an England shirt that has the Cinch logo as they sponsor England cricket – He decides to look on the internet for cars, and remembers Cinch. So he goes to their Trustpilot reviews – He finally puts “cinch cars” into Google and clicks the top result Cinch’s attribution will allocate 100% of the value to the Google ad
- 22. 22 22 Putting it All Together • Campaign to sell dev kits for new processor that now means we are better than competitor X • Biggest issue is lack of awareness that our company offers this product • Two audiences – Current customers – Non-customers
- 23. 23 23 PR and Trade advertising raise awareness. Campaign Activities and Budgets Trade shows generate awareness, and may identify leads Coop campaigns with channel partners generate SQLs Google ads against competitors’ brand searches generate MQLs/SQLs Email current customers to tell them about the new product and dev board Drives searches and web traffic. AND will improve results from other tactics $$$$$ $$$$ $ $$$ $$ $$
- 24. 24 24 Summary • Strategy matters – You need to spend time thinking to develop the best plan – Frameworks, tools and models are useful • Funnel models help determine investment • But reality is complex – Many different factors in buying decision – Almost impossible to attribute accurately – Different tactics have different costs
Editor's Notes
- We can estimate budget with average CPC for Google Ads Note that if we assume that we make a 20% profit, then we make £1000, so each Google ad click needs to be less than £2.50
- Kim Kardashian now has a VC company because of her ability to influence what beauty products people buy
- Honda Jazz was most reliable car in UK last year Carols Sainz famously said he liked his Golf after getting his Ferrari contract
- Ice hockey – goals per game Football – international goals Jerry Rice 40 yard dash time of 4.71s is 1/5th second slower than the 20th wide receiver in the 2022 draft
- Honda Jazz was most reliable car in UK last year Carols Sainz famously said he liked his Golf after getting his Ferrari contract
- Highlgiht that even though emailing current customers is likely to be the most effective, you don’t spend all your budget on it as that would be counter-productive.