How do you use marketing strategy frameworks?

D'après mon expérience, l'analyse SWOT est surtout utilisée pour aider à la définition et la conception de la stratégie marketing. L'idée ici est d'effectuer un diagnostique interne (forces, faiblesses) et ensuite le confronter au marché (opportunités, menaces). Cette analyse croisée donne une vision d'ensemble éclairée et facilite les prises de décision. La pertinence de cette analyse assurera le succès et la cohérence des actions menées pour atteindre l'objectif global. L'analyse SWOT est souvent associée à la matrice PESTEL (politique, économique, social, technologique, écologique et légal) qui permet d'aller plus loin et de compléter l'analyse de l'environnement.

In my experience, most businesses don't apply SWOT correctly. While it's quite an easy exercise to list Strengths, Weaknesses, Opportunities, and Threats, the analysis should come from a summary or analysis of an in-depth marketing audit, not a brainstorm. Similarly, if I had £1 for every time I saw a 'strength' that was a vanity metric rather than a competitive strength, I would be a millionaire! Having the biggest salesforce or widest product range is only a strength if your salesforce is the most effective team or if customers value the range of products!

In practice, for a tech startup, we used a SWOT matrix to analyze our situation. We identified strengths like innovative technology, weaknesses such as limited brand recognition, opportunities in emerging markets, and threats from established competitors. This analysis helped us pinpoint our competitive edge and revealed gaps in our strategy, leading us to develop action plans like enhancing online presence to leverage our strengths and mitigate weaknesses. It was instrumental in refining our strategic approach and capitalizing on market opportunities while being aware of potential risks.

A SWOT analysis is a fantastic tool for understanding your business's strengths, weaknesses, opportunities, and threats. However, it can become a stumbling block if it leads to over-analysis and inaction. The key is to use it as a springboard for action rather than getting stuck in the analysis phase. Once you've identified your SWOT factors, it's all about striking a balance between thorough planning and swift execution. Agility and adaptability are crucial in today's dynamic business environment. So, while it's essential to have a solid plan in place, it's equally important to remain flexible and responsive to changes in the market and your business landscape.

I use marketing strategy frameworks to bring structure and clarity to planning and decision-making. By applying frameworks like SWOT or the 4Ps, I analyze the brand's strengths, audience needs, and competitive landscape, ensuring every tactic aligns with overarching goals. Frameworks guide me in prioritizing actions and resources efficiently, focusing on high-impact areas. They also offer a clear roadmap, making it easier to communicate strategies to stakeholders. Regularly revisiting these frameworks allows me to adapt strategies as market conditions shift, keeping the approach agile and effective.

I use marketing strategy frameworks to bring structure and clarity to planning. Frameworks like SWOT help me identify strengths, weaknesses, opportunities, and threats, ensuring strategies align with business goals. The 4Ps guide me in balancing product, price, place, and promotion for optimal positioning. I use the BCG matrix to allocate resources based on product performance and market potential. Frameworks like PESTLE help analyze external factors impacting strategy. By applying these tools, I prioritize actions, align team efforts, and adapt to changes, ensuring an effective and data-driven approach to marketing.

Introduce a prioritization matrix within the SWOT analysis process. Assign weights or scores to each element based on their perceived impact and relevance.

Completing a SWOT should feel like you are doing an analysis, not a brainstorm. In my experience, SWOTs can become superficial lists of the obvious. If you use this structure, try writing more detailed statements under each category. Providing insight into why something is a threat, for example, will spark better discussion surrounding the implications and action plans.

Using marketing strategy frameworks provides structure and clarity. From my experience, start by selecting a framework that aligns with your goals, such as SWOT, PESTEL, or the 4Ps. For example, in our projects, we use SWOT to identify strengths, weaknesses, opportunities, and threats, guiding strategic decisions. The 4Ps (Product, Price, Place, Promotion) help us align our marketing mix with target audience needs. Regularly revisit these frameworks to adapt to market changes. Frameworks ensure that every aspect of your strategy is considered, creating a cohesive plan that drives success and helps navigate complex market dynamics.

SWOT analysis helps identify internal strengths and weaknesses, as well as external opportunities and threats. The STP model guides the selection of target markets and positioning strategies. SMART Goals ensure that marketing objectives are specific, measurable, achievable, relevant, and time-bound. The Marketing Mix (4Ps - Product, Price, Place, Promotion) aids in designing a cohesive strategy by addressing key elements of product/service offering, pricing, distribution, and promotion. Integrating these frameworks enhances strategic decision-making and execution in the dynamic field of marketing.

The STP model remains a core framework for marketing strategy. For experienced marketers, revisiting segmentation, targeting, and positioning periodically can reveal any new opportunities and focus resources on the most valuable segments. Let data guide segmentation to categorize customers into groups with common needs and behaviors. Define your ICP (Ideal Customer Profile) based on your priority segments. Assess segments for attractiveness and prioritize those with growth potential. Refine your positioning to meet target customer needs vs competitors. Updating the STP model provides an objective process to hone strategy over time. The key is letting data shape decisions to serve high-potential segments in a differentiated way.

El marco STP es una herramienta fundamental para desarrollar estrategias de marketing efectivas, te ayudaran mucho de múltiples maneras: -Identificando a tus clientes ideales al dividir el mercado en grupos con características similares (demografía, psicografía y de comportamiento). Así comprendes mejor las necesidades y preferencias de cada segmento. -Seleccionando los segmentos más atractivos ya que no todos son valiosos para una empresa. El targeting implica evaluar cada segmento y seleccionar aquellos que tienen mayor potencial de rentabilidad y afinidad a la marca. -Y diferenciado tu oferta, el posicionamiento consiste en crear una imagen única y atractiva para la marca en la mente del consumidor objetivo.

Segment audience based on demographics, behaviors, and preferences. Target specific segments with tailored messages. Position yourself as the go-to realtor for their distinct needs.

In my experience the STP model is crucial as it enables businesses to effectively identify and understand their target audience and position their offerings in a way that resonates with them. - Segmentation involves dividing the broader market into distinct groups with similar characteristics, needs, or behaviors. -Targeting involves selecting which of the segmented groups to focus on based on their attractiveness, profitability, and alignment with the business’s capabilities. -Positioning entails formulating a strategy to create a distinctive and appealing image of a product or service in the minds of the target segments. A well-executed STP model can help businesses align their offerings & create customer-centric marketing strategy.

STP is the starting point of defining your marketing strategy. Whilst the ways of which STP is done may have changed over the years, the foundational principles still remain. For e.g. you can segment your target audience based on demographics. If you look at an example, you maybe selling a high end watch. In a typical segmentation exercise you may look at a certain age range of people who you may think can 'afford' it. However, your ideal TG might still have the disposable income for it, but be younger, passionate about cycling and collects high end watches. Hence siloed STP won't work anymore. You need to combine multiple segmentation elements together with behaviour and intent to really make the model work.

Align content creation with the segments identified through STP analysis. Develop content maps that specify which types of content resonate best with each segment.

I've always found it helps to explain models and frameworks using an example industry analogy. For STP an example could be the tea industry: Segmentation: This is like categorising tea drinkers based on their preferences, such as traditional tea lovers or health-conscious consumers. Targeting: is about selecting a specific group to focus on, like promoting herbal teas to health-conscious individuals. Positioning: This step is about presenting your brand as unique and desirable, for example by emphasising quality and heritage to set your tea brand apart in the competitive market.

The 4Ps of marketing—Product, Price, Promotion, and Place-are essential for any product’s success. The 7Ps expand this by adding People, Process, and Physical Evidence, emphasizing service and operational excellence. Post-pandemic, the 9Ps include Presentation and Passion, focusing on delivering with creativity and authenticity to strengthen customer connections.

Integrate sustainability and ethical considerations into the 4Ps framework. Today's consumers often prioritize businesses that demonstrate social and environmental responsibility.

For the launch of a new fitness app, we utilized the 4Ps Marketing Mix effectively: The product offered personalized workouts and nutrition plans, appealing to fitness enthusiasts seeking an all-in-one solution. We adopted a competitive pricing strategy, with a free basic version and a premium subscription for advanced features, balancing accessibility with revenue potential. The app was distributed digitally through iOS and Android app stores and our website, targeting a tech-savvy audience. Our promotion strategy included a blend of social media marketing, influencer collaborations, and targeted online ads, complemented by app store optimization to enhance visibility and encourage downloads.

For services businesses, don't forget processes, physical evidence and most of all - PEOPLE. 4Ps should only be used in consideration of products.

While the 4Ps are foundational, consider them as interconnected gears rather than standalone elements. Your product should inform your pricing strategy, and both should align with your chosen distribution channels. Moreover, in today's digital age, promotion goes beyond traditional advertising to include content marketing, social media, and influencer partnerships. By viewing the 4Ps as a holistic system, you can ensure a seamless marketing mix that not only satisfies customers but also adapts to the ever-changing business landscape. Embrace the synergy of these components, and your marketing strategy will become a dynamic, customer-centric engine for success.

An interesting article posted at HBR Jan-Feb 2013: "Rethinking the 4 P’s" by Richard Ettenson, Eduardo Conrado, and Jonathan Knowles: * Instead of PRODUCT focus on SOLUTION * Instead of PLACE focus on ACCESS * Instead of PRICE focus on VALUE * Instead of PROMOTION focus on Education

In marketing, 4Ps are the bases and can be adapted to specific products and services. This synergy helps businesses normally form strategic plans which in addition to the key elements that affect success in the market. Product: Set up what you selling. Draw attention to the distinct characteristics and advantages. Price: Determine competitive pricing as guided by the findings of the market research. Place: Pick your selling marketplaces where your consumer is as your target. Promotion: Plan and execute adverting activities and promotional campaigns.

The 4Ps framework It ensures a cohesive marketing strategy that enhances value, optimizes distribution, and drives customer engagement.

I firmly believe that investing enough time and exercising careful consideration in goal-setting enables us to progress more efficiently throughout the project, resulting in heightened productivity.

Every marketing campaign should have goals specified in order to determine success. A SMART goal (specific, measurable, achievable, relevant and time-bound) helps in that it will help you to measure whether the campaign worked/is working or not. When reviewing the results of the campaign against your goals, you should be able to adjust and refine your campaign to make it even more successful over time. All marketing needs to not only have measurement but goals to evaluate progress and results.

In a digital marketing campaign, we set a SMART goal: "Increase website traffic by 30% within the next three months through targeted social media advertising." This goal was specific (increase website traffic), measurable (by 30%), achievable (through targeted social media advertising), relevant (to improve online presence), and time-bound (within the next three months). Applying SMART criteria ensured our goal was clear and feasible, aligning with our overall business strategy. It also allowed us to focus our efforts effectively, monitor progress, and evaluate results, leading to a more structured and successful marketing approach.

It amazes me how many people set goals without considering how they will know if they've achieved them. When clients write goals/aims/objectives, I always ask them to write underneath each goal how they are going to measure it. Sometimes, you need to do some 'before' measurements before being able to write a SMART objective, other times you may need to articulate your goal differently to make it measurable. It's much better to go through this exercise at the goal setting exercise rather than try to retrofit it later...

Setting SMART marketing goals—specific, measurable, achievable, relevant, and time-bound—ensures clarity and focus. Whether it's increasing brand awareness or boosting conversions, having clear objectives helps track progress and drive results.

In my experience, the SMART framework is a powerful tool for ensuring marketing goals are not only strategic but also operational. By setting goals that are Specific, Measurable, Achievable, Relevant, and Time-bound, we create a roadmap that is both ambitious and grounded in reality. This approach has been instrumental in driving strategy and growth in the fast-paced sectors I've worked in, such as FMCG and EdTech, where clear objectives directly align with business outcomes and customer satisfaction. It's a disciplined method that keeps the entire team focused and accountable, ensuring that our customer-centric vision translates into tangible results.

Acredito que tudo o que foi mencionado neste artigo colabora com a estratégia de marketing. Mas, gostaria de destacar a importancia das metas SMART. Estabelecer um objetivo claro, um número a alcançar e o espaço de tempo para atingir o objetivo farão buscar esse resultado a todo momento. E pode ser definido como objetivo diversas coisas, por exemplo: - redução de CAC - melhoria de margem - efetividade de campanhas digitais - redução de CPL - aumento de share de mercado, entre outras. Independente do que seja, é necessário ter um ponto de partida e acompanhar o resultado em busca do objetivo definido.

SMART goals give clarity on what to achieve and create accountability within the team. Tracking progress with clear metrics also helps adjust strategies effectively when necessary, ensuring consistent progress toward objectives.

SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. Let's consider an example in a startup context. The goal is to increase brand awareness by 30% among the target audience in the digital space within the next six months. This will be accomplished by launching a targeted social media campaign, optimizing the website for search engines, and collaborating with influencers. Key performance indicators (KPIs) include website traffic, social media engagement, and brand mentions. The goal is realistic, aligning with the company's current resources and market conditions, and its success will directly contribute to overall business objectives.

I have seen so many marketing objectives that aren't SMART in my time... Remember, SMART objectives are: Specific: be clear what you want to achieve and be as precise as possible. Measurable: establish KPIS or OKRs that can be measured. Achievable: the objective must be realistic. It's ok to be ambitious but it needs to be feasible to achieve. Don't forget to count which resources you got too... Relevant: it should fit with the overall company strategy. Time-bound: it needs a well-defined timeframe / deadline. And yes, each marketing objective needs to meet these five criteria 😉

The question is flawed - None of the things mentioned here are marketing 'strategy' frameworks, they are just marketing frameworks that should be combined to form a plan. The thing I use that could constitute a 'strategic' framework is turning a SWOT into TOWS. This gives you a map to use your strengths to capitalise on opportunities, identify opportunities to minimise weakness and so on. However this is still only one of many frameworks that I would use in a plan. SOSTAC is a great guide - situation analysis (where you do a SWOT and PESTLE etc) - objectives (are they SMART) - strategy (the bit no one gets right!) - tactics (the bit everyone jumps to) - actions (who does what, when etc) - control (measure, adapt and measure again)

Consider integrating other models that dive into the positioning and product development aspects of your business- such as the Directional Policy Matrix (DPM). In assessing market attractiveness and identifying critical success factors (requirements in leveraging the DPM), you’ll gain a deep understanding of where your product or service stands in terms of market demand and competitive positioning. The DPM is a key tool in making strategic decisions about product development, marketing strategies, and resource allocation.

In the dynamic field of marketing strategy, Porter's Five Forces and the PESTEL analysis are essential guides, offering businesses complementary perspectives to navigate market complexities. Understanding industry dynamics and external influences strategically positions businesses to thrive in the dynamic marketplace. These frameworks are strategic allies empowering informed decisions. Porter's Five Forces unravels competitive forces, including new entrants, buyer and supplier power, substitute threats, and competitive rivalry. The PESTEL framework broadens the view by examining Political, Economic, Social, Technological, Environmental, and Legal factors, providing a holistic analysis of external influences shaping business landscapes.

In my opinion, rigid structures and frameworks often substitute genuine strategic thinking. I believe that the emphasis on inventing a thought and then shaping it into a form, rather than choosing a form and forcing a thought into it, aligns with a more flexible and creative approach. It's non-negotiable that the aesthetic appeal of frameworks adds an interesting dimension to marketing strategy. This perspective suggests that while frameworks may lack inherent logic, their visual coherence contributes to a perceptible sense of order. In the realm of marketing strategy, a well-presented framework, whether off-the-shelf or personally crafted, gains effectiveness when it embodies a balance between strategic depth and visual appeal.

Make sure you don't just patch together 3 framework analyses and call it a strategy. Your strategy is informed by analysis and frameworks, but must address your situation, state guiding policies, and contain specific actions to get you to your goals. Relevant frameworks, in order, for marketing strategy include: * Mixed research frameworks - understand the market - PEST, 5 forces, whatever. Do your own research to build your own insights. * STP - where to play. * Some sort of goal-setting framework (KPI, OKR, whatever) - what winning looks like in targets and numbers) * 4Ps - how to operate your marketing mix to win.

Whatever strategy framework you choose, a vital step from planning to execution is employing the OKRs framework. Objectives delineate specific marketing team goals, while Key Results outline the targets or metrics needed to achieve these objectives. This framework can be readily shared with stakeholders, facilitating their onboarding and aiding plan implementation. For marketing strategy, each marketing pillar can serve as an Objective. For example, for Brand Marketing, an Objective could be to "Enhance Brand Equity (Awareness, Sentiment, Reputation) by achieving double-digit growth, MoM, in Brand Mentions." Each Key Result represents specific actions required to achieve the Objective.

In my experience as a marketing consultant and boutique agency CEO, I've found that traditional marketing strategy frameworks like SWOT, STP, and the 4Ps are important, but they often lack the power of storytelling. Storytelling is a tool that can add depth, authenticity, and emotional resonance to a brand narrative. It's not just about telling a story, but about crafting a strategic narrative that aligns with your brand's values and goals. This is a tool I had to invent myself, as I found the existing ones insufficient. I encourage anyone interested in enhancing their marketing strategy to explore the power of storytelling.

These frameworks are great for determining marketing goals and initiatives. However, they should be implemented within larger organization-wide frameworks and business operating systems such as EOS or OKR. Without something like EOS in place, business goals aren't established and communicated, and meeting & reporting frequencies aren't set up. As a result, if you're creating SMART goals, they may not be the *right* goals for your business. EOS, for instance, establishes Big Rocks for the business overall, then teams, then down to individuals. Each rock has milestones established, with dates, to work toward completing it by the end of quarter. And there's a scorecard to measure progress. Weekly individual and team 1:1's review it all.

On top of the frameworks mentioned above, we create our own frameworks as well, distilled from our collective experience and expertise. This enables us to stand out from the other companies that provide mentoring services. After all, novelty catches attention, and we all know that attention is the new currency.