A Word Full Of Strategies
Updated: Nov 6, 2019
Someone wisely said that "A true recall of a brand is when people are talking about it when you are not present".
A recognizable and applaudable brand is not built up by just naturally executing. It's the marketing strategies and plans that make it successful.
Behind every strong marketing is the strong strategic execution, which defines every step quantitatively as well as qualitatively.
Being at an entry-level in my marketing career, my observation skills were average when I started being a part of the process of placing the strategies for certain projects. I started referring to some of the successful marketing case studies and realized that they have one thing in common is that all the execution process are not trying to fit in, they just belong to it.
My ongoing learnings taught me about executing a marketing strategy efficiently.
This is a simple way to create execution plans for predefined strategies, for the people who are on a learning stage like me. Although ideology involved behind this may sound familiar to any conventional marketing executive plan. It just breaks down the process into small steps so that the strategy execution and thought process required for it can be evaluated by entry-level people too.
As a digital strategist, I believe that the strategies should be executed in a way that your work should tell and not sell, and, when I say this it means your planned strategy shouldn’t sound as if you are solely doing for selling.
Before you start executing, evaluate the need for the strategy, ask yourself whether this idea will be catering to my audience, will your strategy try to differentiate you from your competitors.
I have depicted the mapped strategy execution in the form of a flowchart:
Lets us take an example where we’ll execute the strategy of a Referral Program. Where the basic execution idea is the customer refers to the product or service of the company to his/her acquaintances and people start using that product or service through the reference provided.
The flowchart goes as:
1. Goal Identification: You know your goal, now its time to plot down each stage of execution.
It is essential to understand your audience and what keeps them going to buy your product or service.
Here your predefined goal is to get more customers.
2. Audience Identification: Try to identify your audience. Imagine if a customer has not used your product or service before and you tell them to refer to your product or service, will they do it? because to run a referral strategy you cannot randomly talk about this referral offer to any suspect. For referral strategy, the right audience would be your customers who have experienced your product or service. The reason to reach the right audience is that it helps to optimise your expenditure and helps you to reach the right people and most often the chances to turn any suspect into a customer is comparatively smooth and fast.
3. Define Offerings: Marketing is an incentive-driven platform and for the success of any strategy, there must be incentive involved. When I talk about incentives it's not necessary to offer a price offer or some promotion, you can talk about values or trust where you build the fact about how your audience is important to you. Now, when you have identified your audience for this strategy, its time to pen down offerings. Here in terms of referring you can offer your customers in monetary gains or kind.
4. Structure and Positioning: Once you write down rough offerings you need to structure position the offerings. The structuring would be what would be the central offering you want to highlight. Your offerings should be in such a way that your customer can make use of it and you are also not incurring heavy expenses by giving the offer. For referral strategy, you can structure by telling on referring you will receive an X% discount on your next product or service, along with that you get these resources or products for free. Positioning is after what stage the customer is entitled to receive the offer. For a referral strategy, the customer can receive the reward after the referee joins the product or service using his referrer's referral.
5. Prepare a customer journey map: The customer journey is a step by step process of your decided strategy. Try to develop a flowchart and show the step by step journey of the referral plan and how each communication will proceed. This will make your execution plan more clear.
6. Identify the touchpoints: Once the customer journey map is ready, identify the touchpoints. The touchpoints are medium through which the communication would be established whether it is through the mail, face-to-face, social media.
7. Measure Qualitatively and Quantitatively: More pursuits will be turned into customers after the referral program is executed, but it's important to state how many? Qualitative as well as Quantitative achievements and returns should be measured. For referral program try to make an estimate the number of conversions you expect to receive by the size of your audience. Consider growth returns too, for instance, you expect a 10% more growth after you establish a referral strategy.
8. Establish a test timeline period: “Small steps lead to big returns”. Try to establish a test timeline period for your strategy and also set micro-goals during that period. Executing your strategy during a test period will allow you to see your drawbacks and give you an assurance about your large-scale plan. Maybe you can run a referral programme for 2 months for a smaller set of audience and test the number of [pursuits turning into customers. Your test period can be limited to certain channels of communication, for an idea you can start talking about your referral offers to the small set of the audience through emails.
9. Successive Plan: If your test timeline succeeds, you should be prepared with your successive plans. Establish the period and goals for successive plans. This plan will cater to the large audience and will be running on a long-term basis. Here you can involve multiple channels of communication to run your strategy. You can involve other media where you can communicate through paid and content marketing.
10. Once you are sure about each stage of execution, there you are all set to execute your story.
By mapping each step you will be able to self-analyse your execution plan and you will able to execute smoothly.
I hope this blog will help you and make your time worthful. I am just a year old in my career and I wish to share my learnings and will keep sharing as I learn something new each day. If your reading was fruitful then give as many likes to this blog. Also, if you have any questions you can mention in the comment section below or you can drop your suggestion at email@example.com