The 5-Step Marketing Strategy
Step 1: Marketing Planning
In the marketing planning step, your company will develop brand, campaign, budget and data plans that will allow you to make your numbers and reach your goal. You’ll know what budget is needed to set you up for success and how your products and solutions will solve customer problems. You’ll determine which campaigns to run, the content needed to attract buyers and what data you’ll need along the way to help you make decisions. With the right plans in place, you’ll improve your chances of success.
Find and capitalize on your “sweet spot” in your addressable market.
Understand which accounts in your market are going to generate the most revenue over the shortest period of time.
Learn who your buyers are, how they make purchase decisions and why they will choose you over your competitors.
Step 2: Strategy and Planning
In the strategy and planning step, your company will define the processes with which the marketing team will interact with prospects and customers. This begins with demand to generate early stage inquiries and continues with a lead management process to nurture the inquiries to sales-ready leads. As a world-class marketing team, you should be capable of sourcing 30% to 50% of the sales pipeline.
Create an inspiring brand that tells your strategic story.
Inspire your customers and prospects to go from the problematic status quo to the opportunity-filled future by solving their biggest problem by purchasing your solution.
Capture the attention of customers and prospects.
Earn brand preference by satisfying the information needs of your target customers and prospects.
Allocate your marketing budget to the accounts with the most revenue potential and the highest propensity to spend.
Step 3: Resources
In the organizational structure step, your company will ensure that your structure has right people in the right roles to execute the processes. Here, you’ll determine how to deploy the resources you secured in the planning phase, making sure they’re the right resources to execute the processes defined in the engagement step.
Modernize the structure of the marketing department.
Generate better results from your agencies.
Put an “A” player in each role on the marketing organizational chart.
Step 4: Execution
In the execution step, your company will execute the strategy by focusing on product marketing, content production, campaign execution, lead management execution and field marketing. Now is the time to determine how you’ll produce content to meet the needs of marketing and sales. You need to execute campaigns and the lead management process to produce sales-ready leads. You also need to figure out how you’ll enable the sales team. The data from the planning step, which is needed for decision-making, needs to be visible through reporting throughout execution. Done correctly, this will begin to bring your marketing strategy to life.
Replace leads with opportunities for the sales team.
Generate enough leads for the sales team to exceed the revenue objectives.
Grow revenues from existing customers.
Increase your mindshare, and wallet share, with every channel partner.
Step 5: Marketing Support
In the support step, you will help the marketing team’s effectiveness by reducing their non-program responsibilities and streamline the operation. With marketing operations you will improve the efficiency of the team through process, technology, metrics, and best practices. With systems you remove the administrative burden by automating core marketing processes.
Increase pipeline attribution, customer loyalty and customer lifetime value.
Drive revenue growth by connecting corporate marketing with the field.
Make marketing scientific.
Move the buyer through the decision-making process seamlessly.