How to use Segmentation, Targeting, and Positioning (STP) to develop marketing strategies
Today, the STP marketing model (Segmentation, Targeting, Positioning) is a familiar strategic approach in modern marketing. It is one of the most commonly applied marketing models in practice, with marketing leaders crediting it for efficient, streamlined communications practice.
STP marketing focuses on commercial effectiveness, selecting the most valuable segments for a business and then developing a marketing mix and product positioning strategy for each segment.
As Martech continues to develop, so do opportunities for segmentation, targeting, and positioning. So whether you're brand new to STP or a seasoned veteran, it can be useful to take stock and double-check you're utilizing every chance you get to reach, interact with, convert and engage customers.
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Digital marketing is more important today than ever. Take steps to create or improve your marketing strategy today to accelerate your results in the coming year
Where do you start if you want to develop a digital marketing strategy? It's still a common challenge since many businesses know how vital digital and mobile channels are today for acquiring and retaining customers. Yet they don't have an integrated plan to support digital transformation and company growth, and engage their audiences effectively online.
If your business doesn't have a strategic marketing plan you will suffer from the ten problems I highlight later in this article and you will lose out to competitors who are more digitally savvy.
For each of the ten problems, I will also recommend marketing solutions and next steps to help you optimize your marketing strategy to win more customers in 2022.
What is digital marketing?
Digital marketing, specifically, refers to 'Achieving marketing objectives…
9 key differences between strategy vs tactics
‘What is the difference between strategy vs tactics?’ is one of the most common questions that 'crops up' when I’m running training workshops or discussing creating marketing plans with businesses.
It’s no surprise since the difference between these two activities often isn’t distinct. Yet, it’s an important question to answer since our research shows that so many businesses don’t have a clear marketing strategy or plan. Without a clear strategy, it’s likely some of your tactics may be poorly directed, so may not be propelling the business in the direction needed.
9 key features that distinguish marketing strategy vs tactics
In this article, I will show the difference between strategy and tactics by looking at characteristics of marketing strategy, which distinguish it from tactics. I’ll give examples that help show the difference between the two based on essential strategic activities.
What's the difference between…
Marketing is crucial for businesses of all shapes and sizes, no matter your budget size. Read on to find out more about digital marketing for startups
Interested in digital marketing for startups? So you recently started a business. Or maybe you have a small business that you’re trying to get off the ground and running.
Of course, now you need to start getting the word out about your start-up. The great news is, digital marketing is highly accessible to businesses of all shapes and sizes, no matter your budget size.
But digital marketing is really wide. If you know nothing about it, you can easily get lost in the noise, which means you can waste your efforts and have little results to show for it.
On the other hand, if you do digital marketing the right way, you can increase your customer base, survive, and even thrive as a business.
To get the right results,…
Q2 2021 smartphone analytics: consumer mobile usage and adoption. Use our mobile marketing statistics compilation to inform your digital marketing strategy and mobile user experience
"Mobile to overtake fixed Internet access by 2014" was the huge headline summarizing this bold 2008 mobile marketing prediction by Mary Meeker, an analyst at Kleiner Perkins Caufield Byers reviewing technology trends. That same year, Eric Schmidt of Google exhorted businesses to take a 'Mobile First' approach to designing web experiences, informed by customer-focused smartphone analytics. Our mobile marketing statistics compilation contains all the marketing research you need to make the right decision in 2021.
13 years later, with usage shooting up amongst all demographics, mobile marketing statistics are more vital digital markers engaging their audience than ever before. Now, more than half of all web traffic is mobile.
Interestingly, this trend is set…
Marketers, managers, and digitally-savvy customers have all experienced first-hand the effects of Financial Services digital transformation over the last year.
Of course, challenges relating to digital transformation are not unique to the financial sector. As in many industries, COVID-19 was another resounding wake-up call for the financial industry in terms of digitalization.
In this blog, I will be making my Financial Services digital transformation recommendations, based on trends and innovation in the sector at present.
Even before the pandemic, Financial Services customers were already seeing rapid growth in digital services available online. The digital disruption caused by the events of 2020 only accelerated that.
Now, many industry studies are suggesting Financial Services digital transformation will have a lasting effect. So, it's up to Financial Services marketing leaders to ensure their business is reaching, interacting with, converting and engaging customers across all digital touchpoints in the customer lifecycle. This is demonstrated via our popular RACE…
Information technology management and marketing is fiercely evolving with tech startups and established businesses rapidly adapting their approaches to IT and IT marketing to add value for their customers
We've rounded up our top 7 recommended IT marketing skills and tools for you and your team to plan, manage, and optimize your marketing strategy. Structured across our popular RACE Framework, implement tactics and strategies to achieve your goals at each stage of the customer journey.
1. The RACE Framework
The top spot goes to the RACE Framework. In fact, all our IT marketing recommendations stem from this crucial practical digital strategy framework.
RACE empowers marketers and managers in the IT and high tech sectors to streamline their marketing planning to create an efficient and effective marketing strategy.
Our tried-and-tested marketing structure helps IT marketers track marketing optimization at each stage of the customer journey from reach to act to convert to engage. Apply the RACE…
Manufacturers are rapidly adapting their marketing strategies in the age of digital disruption. How do your digital marketing capabilities compare?
In this article, I will be reviewing the state of digital transformation in the manufacturing sector. I will give practical digital marketing recommendations for manufacturing companies at different stages of digital maturity. Plus, I'll be revisiting our popular 2021 digital marketing maturity benchmarking report to help you assess the effectiveness of your manufacturing marketing.
The manufacturing industry, including the marketing of manufacturing products, has typically been slow in its approach to digital transformation over the last 20 years. There are many reasons for this. McKinsey highlights 'external market factors, combined with fragmented and complex industry dynamics and an overall aversion to risk' in construction as barriers to change in this vital area.
However, the digital disruption caused…
Tips and tricks to help you get the most out of paid search on China’s largest search platform
With Google claiming less than 2% of the market in China, the search engine landscape is markedly different from that in most Western markets. While there are several key players, including Haosou, Sogou, and Shenma, in the space, Baidu is undoubtedly the first port of call for most companies looking to run search marketing campaigns in China.
So, why Baidu?
There are several reasons why advertisers turn to Baidu when looking to advertise their products or services to Chinese consumers, the most important of which are outlined here.
Highest market share
Baidu search has the highest market share across both desktop and mobile users. According to Statista, Baidu boasts 74% of the Chinese search market, with…
Structure your next big marketing campaign using the 5-step RACE Framework to inform your strategy. Integrated across plan, reach, act, convert and engage, our marketing solutions are proven to win more customers and accelerate your ROI
Have you got an up-to-date marketing campaign planning process? Creating ad-hoc campaigns, or re-using previous successful approaches, can be the time-saver you need to get a new campaign up and running.
But, without understanding the wider PESTLE issues before planning a campaign, you could target the wrong audience with incorrect messaging, or even cause offense. Keep reading for examples of marketing campaigns that do just that, plus our recommended tools for your marketing campaign PR management.
What is the RACE Framework?
The RACE Framework supports managers and marketers to integrate all their key channels and tactics into one plan. Apply the RACE Framework to streamline your marketing strategy today, so you can clearly track and manage your campaign…