What makes a strategy? And how does a good strategy differ from a bad strategy? The short answer is that a strategy is a business’ gameplan on how to reach the goal. So, a good strategy should then be a gameplan that not only shows you the goal but also how to get to there.
A traditional way of framing a marketing strategy is to use the four Ps of marketing: Product, Price, Place and Promotion (introduced by Philip Kotler and E. Jerome McCarthy in the late 60s). Additional Ps has been added and subtracted over time (e.g. Process and People).
The original four is still valid and constitutes an evergreen framework for any comprehensive marketing strategy. Remember that it’s not always what word you use, but rather the meaning they have that makes a difference.
An actionable and comprehensive marketing strategy in 2022 should be able to tell you and your colleagues the answer to the following questions:
- People: To whom are we selling and what do they want? (this P(eople) could also be used when evaluating required staff and organization).
- Product: Whet product (or service) do we market to the target group (People)? How well does it meet the need of the consumer?
- Price: When is the price right? In a B2C-business this bullet can become rather complex. Things to consider are competition, sales, discounts, product margin and the real and perceived values from the consumer’s point of view.
- Place: Is this an offering apt for e-commerce, brick and mortar, a marketplace or though retailers? The goal here is to hit that sweet spot where all your goals comes together to get both customer and business owner happy.
- Promotion: How do we get the product before the eyes of the consumer? Remember that a strategy tells you as much about what NOT to do as what to DO. Ads, sponsorships, SEO and content marketing are examples of P(romotion).These promotion programs have their own strategies and plans.
As marketing’s sole role is to acquire new and retain acquired customers your marketing strategy should be focused on just that. However, different stages of business demands its own twist on acquisition and retention. Your overall business objective, customers and competition outlines your playing field. Let Even Eights help you define your differentiating valueproposition and marketing strategy to dominate your nitch.
As a cross functional area of expertise, SEO is as much about what NOT to do as with what TO DO. Enhance your PR initiatives, customer experience and sales with an integrated and insights-based SEO-strategy. Take advantage of our experience in making SEO the primary business development tool and revenue driver.
Create a strategic overview that let you see and work past the daily flood of ideas and second guessing. Let the 6 step Content marketing strategy of Even Eights transform creation of content on your website to a content marketing powerhouse that boost your sales, lower your costs and create auxiliary revenue streams.
What goes into an e-commerce strategy? CMS, assortment and payment providers? Yes, they are vital parts. But it all starts with your target audience and your role on the market. An e-commerce strategy rooted in these two definitions will help you overcome ad-spend cutbacks, hard pricing competition and output dilution driven by lack of focus. Let us help you focus on the key drivers in your business.
Contact me if you want to…
- Get ahead of your competition with the help of data
- Add focus & innovation to your strategy
- Make each and every part of your marketing, SEO and content contribute to your success
Do you want to learn more?
Calle, Senior Consultant / Owner
070 414 92 41