Meaningful Marketing - Marketing Strategy Webinar
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You've seen dozens of articles on the latest ways to optimize marketing assets and get your message in front of your targeted audience. But before you can get the most value from any of those tactics, you need to clarify your marketing strategy. That way, when your marketing succeeds, you'll get the business results you want. RESULTS.com President Stephen Lynch shares our proven best practices to help you clarify the following strategic decisions: Strategic Position: The niche within your industry that you “own”. The concept you want your customers to think of when they hear your brand name. 3 Key Benefits: The functional, economic, and emotional benefits that your marketing needs to communicate. Brand Promise: The blunt, overt, compelling offer you put in front of your target market customers to help them understand what they will experience when they deal with you.
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Meaningful Marketing - Marketing Strategy Webinar
- 1. Meaningful Marketing Best practices based on research and 20+ years of real-world experience helping clients execute their strategy and win! Presenter: Stephen Lynch Role: President, Head of Strategy at RESULTS.com Linkedin: linkedin.com/in/stephengeoffreylynch Slides: results.com/slides Software Demo: results.com/demo
- 4. Meaningful Marketing = Strategy Best practices based on research and 20+ years of real-world experience helping clients execute their strategy and win! Presenter: Stephen Lynch Role: President, Head of Strategy at RESULTS.com Linkedin: linkedin.com/in/stephengeoffreylynch Slides: results.com/slides Software Demo: results.com/demo
- 7. VISION Core Values Core Purpose BHAG STRATEGY Target Market Customer Value Discipline Core vs. Non Core Activities Strategic Positioning Key Benefits Brand Promise 3 to 5 Year Strategic Moves EXECUTION Numerical Targets SWOT Analysis Current Strategic Projects Metrics (Key Performance Indicators) RESULTS.com Strategic Plan
- 8. Target Market Customer (Includes Geographic area)
- 9. Delight the few to attract the many
- 10. Your product/service has more clarity & focus (you know who you are building it for) Marketing communications are more effective (you know who you are talking to) Target customer perceives you as the expert at meeting their needs - “This company is talking to me” (they are more likely to choose you) When you have a clearly defined Target Market
- 11. VISION Core Values Core Purpose BHAG STRATEGY Target Market Customer Value Discipline Core vs. Non Core Activities Strategic Positioning Key Benefits Brand Promise 3 to 5 Year Strategic Moves EXECUTION Numerical Targets SWOT Analysis Current Strategic Projects Metrics (Key Performance Indicators) RESULTS.com Strategic Plan
- 12. Value Discipline
- 13. Strategic Focus What do your target customers value most? Value Discipline (Generic Strategy) Company examples Low cost Consistency Speed No hassles Operational Excellence Southwest Airlines, Walmart, Fedex State of the art Products and Services Product Leadership Apple, Gillette, BMW Customized products Personalized solutions Customer Intimacy Zappos, Nordstrom, Ritz Carlton
- 15. VISION Core Values Core Purpose BHAG STRATEGY Target Market Customer Value Discipline Core vs. Non Core Activities Strategic Positioning Key Benefits Brand Promise 3 to 5 Year Strategic Moves EXECUTION Numerical Targets SWOT Analysis Current Strategic Projects Metrics (Key Performance Indicators) RESULTS.com Strategic Plan
- 16. Core vs. Non Core Activities
- 17. “The difference between successful people and very successful people is that very successful people say "no" to almost everything” Warren Buffett
- 18. “Many managers do not understand the importance of having a clear strategy. Strategy is about making trade-offs. The essence of strategy is choosing what NOT to do.”
- 19. “The difference between successful people and very successful people is that very successful people say "no" to almost everything” Warren Buffett
- 20. VISION Core Values Core Purpose BHAG STRATEGY Target Market Customer Value Discipline Core vs. Non Core Activities Strategic Positioning Key Benefits Brand Promise 3 to 5 Year Strategic Moves EXECUTION Numerical Targets SWOT Analysis Current Strategic Projects Metrics (Key Performance Indicators) RESULTS.com Strategic Plan
- 22. Marketing is not finding clever ways to sell what you make. You need to: 1. Clearly differentiate your brand’s positioning 2. Get closer to your target customers by adding superior value Professor Philip Kotler
- 24. Best quality Best products Best service Best people “You don’t win the marketing war with a better product or service, you win with better positioning”
- 26. Seth Godin
- 27. “Halo effect” Create a niche in your industry where you can legitimately position your leadership People subconsciously assume that “leader = best”
- 32. Stake out a “position” in your industry (or create a new category) in which you can authentically claim your “leadership” or “meaningful point of difference” Leadership does not necessarily mean being first or biggest: • You can lead a niche category in your industry • You can lead in a geographic location • You can lead by having a meaningful point of difference
- 33. “Blue Ocean” Uncontested area? New market category? Claim your leadership? Claim meaningful difference?
- 37. “If you can’t state your position in 8 words or less, You don’t have a position”
- 38. State your Strategic Position State your Strategic Position (in 8 words or less)
- 39. ★ A concept you can “own” in the target customer’s mind ★ An industry category or niche that no one else owns ★ Meaningful and remarkable to your target customer ★ Position your leadership, or meaningful point of difference ★ Authentic. No BS. Your customers must experience it ★ Narrow your focus. Stand for one thing ★ Don’t try to be all things to all people ★ Delight the few to attract the many ★ Sustainable even if product/service evolves over time Strategic Positioning - best practices
- 40. VISION Core Values Core Purpose BHAG STRATEGY Target Market Customer Value Discipline Core vs. Non Core Activities Strategic Positioning Key Benefits Brand Promise 3 to 5 Year Strategic Moves EXECUTION Numerical Targets SWOT Analysis Current Strategic Projects Metrics (Key Performance Indicators) RESULTS.com Strategic Plan
- 41. Key Benefits
- 42. ECONOMIC benefits Value in time or money “The rational justification” FUNCTIONAL benefits Utility “The job your brand performs” EMOTIONAL benefits Meaning “How you make them feel”
- 44. Functional Benefit: – Hybrid car = uses less petrol = better for the environment Economic Benefit: – More expensive to purchase, but more economical to run Emotional benefit: – Tells the world - “I’m a good person”
- 45. “The modern brand doesn't seek to own a single attribute, it seeks to own a single attitude" Jim Stengel - Procter & Gamble CMO
- 50. EMOTIONAL benefits Meaning “How you make them feel” Brand Promise ECONOMIC benefits Value in time / money “The rational justification” FUNCTIONAL benefits Utility “The job your brand performs”
- 51. What is your #1 benefit in each category? Type of Benefit The #1 Benefit our brand offers in each category Functional Economic Emotional
- 52. VISION Core Values Core Purpose BHAG STRATEGY Target Market Customer Value Discipline Core vs. Non Core Activities Strategic Positioning Key Benefits Brand Promise 3 to 5 Year Strategic Moves EXECUTION Numerical Targets SWOT Analysis Current Strategic Projects Metrics (Key Performance Indicators) RESULTS.com Strategic Plan
- 53. Brand Promise Your blunt, overt, compelling offer
- 54. EMOTIONAL benefits Meaning “How you make them feel” Brand Promise ECONOMIC benefits Value in time / money “The rational justification” FUNCTIONAL benefits Utility “The job your brand performs”
- 60. “If you can’t explain it simply, you don’t understand it well enough”
- 61. State your Brand Promise State your brand promise (in <140 characters)
- 62. ★ Designed to delight your ideal target customer ★ Blunt and obvious to as to what they can expect to receive ★ Authentic. No BS. Your customers must experience it ★ Back up your promise with real reasons to believe ★ Sustainable even if product/service evolves over time ★ Brand promise should be hard for your competitors to copy operationally (because you have built a unique operating model to deliver brand promise in a truly excellent fashion) Key Benefits & Brand Promise best practices
- 63. Your Strategic Position, Key Benefits and Brand Promise are the key ingredients in a creative brief document you would provide to an external branding agency (where applicable) How your marketing strategy is actually executed verbally, visually, and experientially in the marketplace, is derived from these key strategic decisions.
- 64. VISION Core Values Core Purpose BHAG STRATEGY Target Market Customer Value Discipline Core vs. Non Core Activities Strategic Positioning Key Benefits Brand Promise 3 to 5 Year Strategic Moves EXECUTION Numerical Targets SWOT Analysis Current Strategic Projects Metrics (Key Performance Indicators) RESULTS.com Strategic Plan
- 73. Thank you for your time!