As Mark Ritson, a distinguished Brand Consultant, aptly puts it, "Marketing strategy is where we play and how we win in the market. Tactics are how we then deliver on the strategy and execute for success." In this article, we delve into two marketing frameworks, revealing strategies that not only provide guidance but also ignite impactful brand positioning and foster sustainable growth.
What is a marketing strategy? Our exploration begins with an in-depth look at the fundamental concept of marketing strategy. A marketing strategy is a comprehensive plan that consists of a company's marketing objectives, way forward and goals combined. It can include a brand’s key messaging, value proposition, and target audience among others. A well-defined marketing strategy not only helps to map out the foundation of a brand but also paves the way to sustainable growth in the long term.
Photo by fauxels from Pexels What are the frameworks you can explore? The concept of having a marketing strategy is not foreign to businesses, but many grapple with utilising the right framework for their brand and product offering. Aside from the commonly used Porter’s Five Forces and SWOT Analysis, let us dissect AKIN’s Human Brand Methodology Framework and Sean Ellis’ Growth Pyramid.
AKIN’s Human Brand Methodology Inspired by the principles of design thinking, Lean Startup and the Business Model Canvas, our proprietary Human Brand Methodology (HBM) framework — consisting of Core, Body and Realm — was created to inform and guide the way brands interact and engage with their audiences in today’s digital world.
Our HBM framework now goes beyond just a guide for distilling the components of a brand but informs our approach across projects and deliverables. We start with using the CBR framework to break down the clients’ and project needs to better allocate various actionables.
The Core …Represents its purpose, story and proposition — it engages with stakeholders to dig deep into business goals, problems and challenges. It articulates what the clients hope to achieve and the outcome of their marketing efforts.
The Body …Communicates a brand’s core value proposition. It is the personality and identity expressed through human traits such as tone of voice, character and a distinctive look and feel. It talks about the audience’s core needs, behaviour and interaction through social media engagement.
The Realm … Refers to a brand’s dynamic relationships with its community, competitors and partners. This entails building a sustainable community that evolves with the needs of the audience through the empowerment of affiliates and referrals. It taps on the principles of resilience and the ability to adapt to and recover from adversity.
When we align the Core, Body and Realm , we create highly relatable, digitally innovative and data-driven marketing interventions that are innately Human.
The Growth Pyramid What used to be The Startup Pyramid has now been revised by creator Sean Ellis (CEO of Qualaroo ), and renamed The Growth Pyramid . Comprising five distinct levels of growth, this framework provides a structured approach to scaling your business.
According to Ellis, optimal results are achieved when each level is thoroughly evaluated before progressing to the next. This meticulous approach enhances the effectiveness of future marketing campaigns and contributes to improved conversion rates. Now, let's delve into the five levels to learn more.
Source: Sean Ellis Level 1 - Product Market FitAt this foundational level, the focus is on crafting a customer-centric product that deeply resonates with the target audience. Focus all resources on improving the customer experience, actively seeking on-ground feedback, and addressing any gaps that arise.
Level 2 - Instrument for Growth & Define North Star Metric Transitioning to this stage involves defining the North Star Metric, a pivotal step that reveals the intrinsic value your business provides. This means reducing dependence on quantifiable metrics like click-through rates or bounce rates, guiding strategic decision-making towards sustainable growth.
Level 3 - Growth Team, Process & Organised Learning Stepping into Level 3 entails building a growth-oriented team, establishing systematic processes, and fostering a culture of organised learning. Embrace the habit of rigorous testing and meticulous documentation of insights—even when outcomes may not initially appear significant.
Level 4 - Align Team & Testing Around High Impact Opportunities As momentum builds, align your team's efforts and testing strategies around high-impact opportunities. Prioritise initiatives such as gathering early-stage customer feedback to refine offerings and maximise impact.
Level 5 - Company-wide Growth Culture & Mindset At the pinnacle of the pyramid lies the cultivation of a company-wide growth culture and mindset. Ensure that every member of the organisation is attuned to growth opportunities, with teams ready to capitalise on emerging prospects swiftly and effectively.
Photo by fauxels from Pexels Chasing the silver bullet strategy Is there a one-size-fits-all framework for my business? The short answer is no. Instead of seeking a generic solution to your marketing challenges, it's crucial to adopt a holistic approach that acknowledges the diverse perspectives within your brand space. This understanding is just one aspect of the dynamic variables to consider when tailoring the right marketing strategy for your brand. We caution against attempting to force-fit a predefined framework. Rather, we encourage you to assess and optimise strategies to align with your brand's unique identity and objectives. This is how you execute your tactics for business success.
As you craft your strategy, remember that understanding your target audience's needs and preferences is paramount as well. Without this clarity, even the most well-intentioned efforts may fall short, so it's essential to grasp the nuances of your audience's behaviours and motivations. We offer our Ultimate Target Audience Template as a complimentary resource to aid you in profiling the individuals who play a central role in your brand's success.
Here at AKIN, we design marketing strategies for a restless digital generation by uncovering consumer and cultural truths to help brands articulate their purpose. We design impact-driven marketing campaigns based on sound data analysis. Possessing a tech-first mindset, we build digital solutions that bring businesses closer to their audiences. Above all, our goal is to help you nurture consumer relationships that will stand the test of time.
If you're interested in discovering how our Human Brand Methodology can elevate your marketing approach, connect with us at oh@helloakin.com to find out more. Let's collaborate to determine the best fit framework for your unique business needs.
Written by Kitty Tan
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