How to build the bare minimum marketing strategy - Joe Glover

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7M ago 1:04:55

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Overview: Joe Glover explains a simplified approach to crafting a marketing strategy.
Value: Strategy aligns marketing efforts with business goals, providing clear benchmarks and direction.

Align with Business Objectives: Marketing goals should connect directly to company objectives.
SMART Goals: Specific, Measurable, Ambitious, Relevant, Time-bound.
Example: Replace “get our name out there” with “increase site visits by 50% in six months.”

Identify the Core Problem: Mark Ritson’s “diagnosis” starts with understanding what the customer truly needs.
Jobs to Be Done: Customers buy products to solve functional, emotional, or social problems.
Research: Use customer feedback, social media, and reviews to pinpoint needs and pain points.

Go Beyond Demographics: Use psychographics, behaviours, and values to understand your audience.
Focus on Viable Segments: Consider Total Addressable Market (TAM), spending power, and reachability.
Example Segment: Joe’s target for ABC Limited: “fashion-forward pet owners” who value stylish pet wear.

Craft a Positioning Statement: Define your brand’s unique value concisely.
Distinctiveness vs. Differentiation:

Separate Strategy from Tactics: Start with strategy, not tactics, to avoid scattershot efforts.
Use a Funnel-Based Approach: Awareness, Consideration, Purchase, Retention, Advocacy.
Examples:

Team Involvement: Collaborate with sales, leadership, and other departments for buy-in.
Measure & Adjust: Track each tactic with specific metrics to ensure alignment with strategy.

Key Steps to a Bare Minimum Marketing Strategy

1. Set Clear, Aligned Goals

2. Solving a Problem

3. Targeting and Segmentation

4. Positioning

5. Tactics

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