The 3 Most Important Parts of Your Marketing Strategy

The 3 Most Important Parts of Your Marketing Strategy

Ask any marketer (or CEO, small business owner, startup founder, etc.) what the most important goal for their company is and they will likely talk about reaching their customers–through marketing. Then ask them how they go about reaching these customers and you may hear a wide range of perspectives. Marketing is both art and science, therefore no two marketing strategies will be alike.

However, there are some best practices when determining how to develop a marketing strategy and an actionable plan for your business. While we all may have been raised on the 4 P’s of a standard marketing mix, today’s dynamic and fast-paced business environment requires us to be nimble, adaptable and above all, customer-centered. Don’t get me wrong–product, price, place and promotion all remain relevant as components of any good marketing strategy, but we must start with the customer.

At Gamma Innovation Group, we use a marketing strategy framework with our clients that captures the key elements, but there are 3 segments of our approach to the strategy that could almost stand alone and still provide an effective way in which to reach your best consumers.

Identify the Target Market – You have the mission statement, goals and KPIs  for your marketing strategy. You’ve managed to cut through the noise of a crowded market and turbulent economy with a market assessment and a solid SWOT analysis. These are a great starting place, but I believe the most important part of a marketing strategy is understanding your target audience. A great marketing plan goes beyond age, gender and income demographics. Today’s business landscape requires you to dig deeper. One very effective way to understand your consumer is by developing buyer personas. This is a tool that helps you understand your best client, one at a time.

Determine the Promotional Mix – There’s one of the Ps we were looking for. Promotion definitely matters, especially when it comes to determining the best messaging once you’ve identified the platform for your ideal customer. If your target audience is 18-35 year old males, you might be stuck at this step trying to determine the best way to reach your ideal customer. However, a detailed buyer persona would allow us to get to know your customer better. The descriptive document is going to inform how we choose to communicate with your unique 18-35 year-old male target consumer. You then have insights that can help determine if a comprehensive social media ad campaign can reach your target audience, or if they would be better served by a television ad campaign. 

Create an Executable Roadmap – I skipped a few steps to get here. The best marketing strategy in the world will never be effective without execution. A clear, actionable roadmap will enable your organization to effectively identify and engage your consumers with defined tactics and associated metrics. Execution is everything!

Do you agree with this list? Or would you bump one of my top 3 to make room for what works best for you and your organization? We’d love to hear from you!

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