Three Go-to-Market models to help you strategize, plan and deliver
Business and marketing strategy is an essential component in the delivery of any successful product, service or promotional launch/campaign.
We’ve written extensively at Smart Insights about the importance of defining a target audience, producing a clear value proposition and optimizing the right marketing mix; just three elements of good marketing strategy to help ensure brands create a competitive advantage, deliver value for customers and generate profit for the business.
However, the success of any strategy is dependent on how this is ultimately executed and within this post, I’d like to look at a few different ways this can be brought to life as part of a Go-to-Market (GTM) plan.
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Demand generation should be a core component of a Blue Ocean Strategy - instead it is frequently confused with either brand awareness or lead generation
Demand generation is a critical theoretical component of the 'new' marketing- a catch-all term for the kind digital marketing which relies on inbound techniques and new platforms, all underpinned by the 'Blue Ocean' strategy first popularised by W. Chan Kim and Renée Mauborgne just over a decade ago.
But the term has become confused and diluted, with marketers overly keen on fashionable buzzwords using it in a similar way to 'growth hacking', a term now associated with so many marketing techniques it has lost all meaning and value.
Defining Blue Ocean Strategy:
So what is demand generation precisely? To answer that question we first need to explain the concept of 'Blue Ocean Strategy', which the whole concept of demand generation depends on.
Blue Ocean Strategy is the idea that companies can thrive not…
Creating your social media strategy and tactical plan
Noun: Strategy / A plan of action designed to achieve a long-term or overall aim.
First, you need to understand what a strategy is, and isn’t it. A strategy should define the main aim of your social media presence and set the parameters for what it will deliver and how it will be delivered. It will be supported by a tactical plan that defines how the strategy will be delivered, including the channels, resource and budgets to achieve it.
Tip – ensure your strategy is no more than 3-4 pages long. A strategy has to be concise and provide the governing principles that guide the plan.
1 - Building the strategy
Below is a summary of key content to include in your strategy document.
1.1 - Strategy statement
A short, concise summary of what the strategy is aiming to achieve, broken down into bullet points. Below is an example…
Developing a Joined Up Approach to your Social Media and Customer Communications
In this post I show how we use different tools and plugins for our different social platforms to let software services take some of the key pounding out of online publishing.
Here is my summary of our process and the tools we use. We're always interested to learn about new tools or other approaches, so let us know if you have other suggestions.
The diagram shows the approach we use on Smart Insights to support content sharing across the main social networks while minimising the resource needed. We aim to publish two to three posts daily as a target, balancing advice and updates on major developments in digital marketing. These are posted to our blog and then we use tagging of topics in different categories to surface the advice in…
Reviewing how to integrate digital marketing into marketing team structures as part of Digital Transformation
The latest Smart Insights research study shows how common Digital Transformation projects or programme are today with 30% already having a programme up & running and 31% planning to within the next year.
Yet, digital transformation doesn’t occur overnight. There are a series of steps to go through to get there and the critical factor is the staff. Imagine a world where your Digital Working Party, Digital Group or Digital Collective is in place, they’ve had several meetings and agreed an action plan! What’s next? In this series of posts on digital transformation, I’ve looked at what it is, how to start, getting buy-in and catching up with the competition. In this final post, I take a look at options and examples of how you structure your digital team - see this Smart Insights Expert template for more…
What is the 7Ps Marketing Mix and how should it be used?
The marketing mix is a familiar marketing strategy tool, which as you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion. It is one of the top 3 classic marketing models according to a poll on Smart Insights.
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Who created the 7Ps model
The 7Ps model was originally devised by E. Jerome McCarthy and published in 1960 in his book Basic Marketing. A Managerial Approach.
We've created the graphic below so you can see the key elements of the 7Ps marketing mix.
The 4Ps vs The 7Ps
The 4Ps were designed at a time where businesses were more likely to sell products, rather…
Audit your content and SEO with our mindtool to get more from your content marketing
One of the biggest appeals of digital marketing is that it's data-driven - we can readily review the effectiveness of our activities and make informed improvements. This is particularly true for using content marketing and SEO to attract and convert visitors to lead or sale.
Yet, the tools that are available within analytics to help us visualize and optimize our content haven't really changed since I've been involved in digital marketing. If you dig into the Behaviour reports in Google Analytics you still see long lists of Top Content and Landing pages to try to interpret. Using Content Groups in Google Analytics can help simplify by grouping related content. Although you can sort the lists, it's not easy to identify which content is performing well and can be enhanced and which is under-performing and which…
The EAST framework combines behavioural economics with other sciences and psychology to truly understand and influence behaviour change
Behavioural economics is nothing new in marketing, having been a fundamental industry discipline for the past few decades, but there's a new kid in town and it's behavioural economics, supercharged.
Behavioural Insights (BI) has long been a tool for Government departments to improve the design and implementation of public policy, with its umbrella spanning research into behavioural economics, sciences and psychology.
Its aim is to understand and influence behaviour change among citizens by:
Removing unnecessary steps
Making services more user-friendly
We think it translates perfectly into marketing too when improving and enhancing customer experience.
Nudge and learn – a winning approach
Much like in conversion rate optimisation (CRO), services are streamlined by testing subtle changes to the design, content, timings, and navigation of websites, letters, emails, forms and other methods of communication with citizens.
Something as simple as changing…
The RACE Digital Marketing Planning Framework
We created RACE to help digital marketers plan and manage their activities in a more structured way since we found that many don't have a well-formed digital marketing strategy. In this post, first published in July 2010 and since updated with a new summary of digital marketing KPIs you should track, we show how you can simplify your measurement and reporting through RACE Planning.
You can find more details about applying RACE for Digital Marketing Planning in our FREE RACE digital marketing planning template download.
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To explain and fully define 'What Is Digital Marketing?' we created this popular infographic structured around RACE in 2012 and updated in 2015 as shown below. It shows the Key measures to set targets…
Our summary of sessions from #Effweek: Using a more insight-driven approach for marketing
This week I attended the main session of the IPA-arranged #Effweek, which is aimed at sharing best practices on improving marketing effectiveness. In this article I'll cover the main themes, report on the new effectiveness research unveiled at the event and give examples from FMCG brands, financial services and telecoms of how effectiveness is managed.
The theme of the conference was how to use evidence-based decision-making in our marketing investments to improve value for our customers and business outcomes, particularly for media investments.
Now in its second year, the conference theme was closely linked to what we aim to support marketers in achieving through Smart Insights, i.e. harnessing marketing insight to make better decisions by moving from reporting to learning, which is nicely summarised by this Insight-driven marketing visual from the Marketing…