Creating a Marketing Strategy – Part II

Last week, we talked about defining your marketing strategy. Now, let’s define the requirements and process to fulfill the strategy. When you think about it, we’re essentially going through the similar methodology that you mighy use for your techincal projects. The better you can define the scope, requirements, and test criterion, the better your chance for success.

Develop a Campaign

A campaign is a series of integrated marketing activities that you often structure around a product launch or company vision, and that support a higher-level goal. When you roll out, or execute, a campaign, you should:

  1. Set attainable goals
  2. Determine your target audience
  3. Plan marketing activities that support those goals and target your specific audience
  4. Capture leads and drive them through the sales process
  5. Track and measure success to determine future activities

Ideally, each marketing activity meets a different need during the campaign. At the very top level, all of the inquiries represent the first stage of the marketing and sales cycle – awareness. As the leads move through the marketing cycle, they become more qualified. Customers evolve through awareness, interest, trial, and purchase stages.

Set Goals and Metrics

To define meaningful goals, you have to define how marketing will impact the bottom line, which is called marketing return on investment (ROI). You need to measure each marketing venture based on:

  1. Ability to capture. How many new leads have been established as a result of the activity?
  2. Maintenance. How many target customer contacts have responded to this specific communication?
  3. Upgrade factor. How many target customer contacts have responded in a way that gives you permission to take the dialogue to the next level?
  4. Cost. What was the cost of each of the above?

Follow Through to Sales

A key marketing strategy involves following leads through the marketing process to sales. While it can be a difficult process, it helps the company to see what marketing activities are effective and generating revenue.

To maintain a lead, marketers must create a feedback loop with sales to reflect the customer path. For example:

  • Did the customer generate revenue?
  • Why did we lose the potential sale?
  • Are there closed-loop marketing activities that you can continue to do with that customer?

One Response to Creating a Marketing Strategy – Part II

  1. […] Creating a Marketing Strategy – Part II […]

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