How to master Strategic Marketing
Are you that one marketer that your competitor underestimated?
In today’s context, it is not easy to strategically lead in any of the industries. Though most of the companies are coming with collaboration techniques as their strategic move to reduce rival’s pressure and better allocation of their resources, some companies are preferring to be at a standalone position and almost 80% of them are outnumbering other rivals in profit as well as potential audience base, alone by their strategy.
These companies we name with a beautiful phrase called “ Are you that marketer who is underestimated by your competitor?”
But in this article, we are not going to reason out, whether you are that marketer or not, but reason out, how you can be that marketer?
Before we start, check out here for some bonus reads:
What is Strategic Marketing?
Strategic Marketing is a process of planning long-term, forward-looking approach and an overall game plan of any organization or any business with the fundamental goal of achieving a sustainable competitive advantage by understanding the needs and wants of customers.
In simple words, it is a process of allocating key approaches and hacks to be executed at the time of performance that gives us a good and executable weightage over competitor i.e. provide us with competitor advantage and a better approach to access to target the customer needs.
Now as we have scooped enough and got a better glimpse of Strategic Marketing, now we can move to the prime topic of our article:
Decoding and articulating the hacks to “Be the stand tall and standalone marketer, who is underestimated always.”
3 Hacks to effectiveness:
Remember to pitch your goods with accountability and sustainability rather than sales:
Remember those days, when marketing used to be restricted to door to door marketing and the goals used to be “Sell the comb to a bald man and grab the highest commission and promotion.”
But these days, if we look over these strategies, this kind of appears to be extinct. So, what does today stand as a good and sustainable strategy for weighing over your competitive advantage?
Yes, it is “ACCOUNTABILITY”.
Instead of the vague sales and marketing arrangements of the past, it’s time to focus on measurable contributions—from both sides. Successful marketing means accountable marketing, i.e. in the case of sustainable marketing, we have to instil emotions rather than sales.
One of the best examples of this is, a recent weighing advantage that is proportionately shared between Hotstar and Netflix, where for strategic advantage thy are using show sponsored marketing (IPL, Dream 11 and CRED advertisements) and moment marketing, where they are also they collaborated with other companies and also got a chance of distributed micro sponsoring of their brand at economic rates.
The sales teams also can define how well they can work together. Marketing should be embedded in the sales process by helping move leads through the pipeline. In addition to that, a good planning team would add an efficient advantage to this process.
Read here more about: How accountability can boost sales?
Go for Brand Personalisation:
One of the key pillars of effective marketing. But, many people do have a myth about, personalisation is that it is only a process limiting to branding identities with personalised names, and hybriding it instead of coming up with names of other brand and making a hybrid out of it.
If we are told to scoop upon the advantages of all of this, definitely it would be an article long explanation because it is by self a deep well with millions of sub-theories present inside it.
But if we would like to keep it short, we can refer to “Forbes” magazine, which actually started the trend of Personal Branding, where, with personalisation, it has given millions and above boosts to start-ups and recognised and brought us forward the key leaders and their habits.
From this, you may assume how deep and advantageous, the whole concept of Brand Personalisation is.
Personalization starts with your data – what type of data you have, where you compile it, and where you put it to use. One of the key hacks is, gathering data. It is because behavioural data (which can be gained through marketing automation’s web tracking abilities or online community engagement) is what you want for personalization purposes.
You want your audience to show you what they want by where they’re clicking, so you can use that to further refine their choices. Becoming familiar with the technology that drives brand personalisation which will help you ultimately for better alignment of your strategy.
Read here: Sucess stories of Personal Branding
Adopt updated advancements:
Our rule of thumb is to consider core functionality first. Don’t buy anything new because it has two shiny extra things. On a personal and professional note, it is wise to suggest it because in these cases usually the quantity of material is loaded and quality is almost sacrificed
.
Am I buying this because of its core functionality? Or am I being drawn in by the “extras”?
This is one of the core questions when customers visit your tech-enabled or supported product webpage.
In order to create successful campaigns, marketers must understand the inner workings of the solution itself.
Marketing isn’t quite there yet when it doesn’t accompany to complete adoption of business intelligence, but these technological advances cannot be used at their full level if, they do not carry the basic principles of personalisation, that will help them to dig better their audience choice sets also.
Read here more about: How Technology can bring us competitive advantage?
This brings us to the end of our article. Now as we have decoded Strategic Marketing and have cleared about how we can carry the same efficiently, we are now ready to take off for a successful business journey.
Are you ready to be a dynamic marketer who would flip off competitors due to their own myth of underestimating you?
Lets fly and trade...
Comments
Post a Comment