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.
Our Business Members have access to a range of marketing tools to help implement marketing models to develop their marketing strategies to win more customers. The STP marketing model…
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…
Digital marketing is more important than ever. Take steps to create or improve your marketing strategy today to accelerate your results
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.
What is digital marketing?
Digital marketing, specifically, refers to 'Achieving marketing objectives through applying digital technologies and media.'
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…
Exploring the latest medical landing page conversion rates to inform your pharma or healthcare marketing strategy
'What does good look like?' 'How do we compare?' and 'How do we get there?' are common questions when healthcare marketing strategy is concerned. With so much competition in healthcare marketing today, you need to benchmark yourself against the key metrics within your industry.
But, good benchmarking is only as useful as your marketing strategy allows it to be. Are you confident that you're applying a data-driven strategy? Are you happy with the metrics in place to inform your digital marketing optimization?
We'll delve into some recommended resources and marketing tools to help you implement your benchmarking learning and increase your healthcare customer conversion and retention.
Conversion rate benchmarking for your healthcare marketing strategy
It's useful to have conversion statistics to compare your conversion rates against if you're serious about conversion rate optimization (CRO). And with the resources and…
What does future-proof digital marketing training look like?
When it comes to technology, “The ability of something to continue to be of value into the distant future and not become obsolete” seems pretty obvious. We can all recognize items that have become obsolete as technology changes and improves. But, what does future-proof mean in the context of digital marketing training for work and employment?
From my perspective and looking at reviews from experts in education and psychology, to be future-proof is to “Continue to be useful or successful in future when the situation changes.”
This definition sounds a bit woolly but can be distilled into three primary components:
Being able to identify opportunities by anticipating the future
Using this knowledge to minimize the effects of shocks and stresses of future events by having a clear strategy
Then, using this strategy to…