This marketing strategy planning format is more commonly used by marketers and advertisers. The parts are:
- Communication Objective
- Business Objectives
- Target Market
- Consumer Benefit/Reward
- Call to Action
- Unique Selling Proposition
- Single Minded Proposition/Main Message
For the sake of this discussion, let us again pick a fictional product so we can apply the theory. Let us assume that your client sells high end miniature antique cars and bikes. Let us call our brand, Road Trip. Let us assume that Road Trip has been in business for more than 5 years and has a steady stream of sales. However, majority of their sales come from the same customers. They have high repeat purchase rate. This time, they want to expand their customer base.
Remember that in a marketing strategy planning, objectives have to be measurable.
It should be divided into two: Communication Objective and Business Objective. There should only be one for each and connected to each other.
Communication Objective is the message or image or feeling you want to bring out of your target market when they watch the ad. This part should say something about the branding or image of your product.
Business Objective is usually related to finance, revenue, curbing losses and others.
Let us put this into practical terms with our fictional product.
Road Trip lets you drive through your childhood memories.
Increase new customers by 20% in a year.
Naturally, you need to know about your competition and you need to know them well. It’s not enough to know what they sell and their image. Dig in as much numbers as you can and also know their marketing history.
Let us apply.
Toys for the Big Boys
- Toys for the Big Boys is the largest manufacturer of miniature cars, bikes, planes and other vehicles. They are distributed to 71 different countries and take up about 60 percent of the market share.
- Majority of their sales come from their retail stores, about 90%.
- However, they have a limited line of antique miniatures. Most of their miniatures are current models of sports cars.
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As we discussed in the first marketing strategy planning format, when you talk about your target market, it is not enough to know their age, gender and social status. You need to dig in deeper and know more about their behaviour, buying habits and other information that may influence what they like and how they make a decision to purchase a product. There are two things to determine: Demographics and Psychographics.
Demographics are the simple data, age, gender, location and social status. Psychographics include their habits, influences and other information that affect their psyche as a consumer.
Let us apply this part to our fictional product. Let us say that the cheapest product they carry are miniature bikes, around $200.
- Upper Class to Upper Middle Class
- They are miniature enthusiasts who really just buy miniature toys to display it. They are collectors and are geeky about their toys.
- Most of them are already professionals and that's how they afford the to buy it.
- They don’t just buy these miniatures and they almost never buy on impulse. They begin by reading about history of the vehicle and further researching about its design, historical significance and other information.
- When they are “impressed” with it, that’s when they will look for a miniature of this product.
What will the consumer get when they purchase your product that he will not get if they purchase other product? There is a usual format used for this portion.
If I buy _____ instead of ______, I will _______.
Let us apply it.
If I buy Road Trip instead of Toys for the Big Boys, I will experience beyond my childhood.
Call to Action
Call to action is, needless to say, what you want your target market to do when they see your ad. Do you want them to visit a website? Donate money? Donate their time? Submit their photos? Buy their product? If so, where will they buy it?
Just remember to be very clear and very short. If you want them to visit a website, you can’t expect them to remember or figure out immediately if your website name is watchamcooleetartistinlove.com.
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Unique Selling Proposition
We already discussed what a unique selling proposition is in the first marketing strategy planning format but here is a brief description.
A Unique Selling Proposition or USP is the one thing or several things about your product that is or are not found on other products. It is what sets you apart. You have to make sure that your USP is really a USP.
One of the most common mistakes that clients commit is to insist that everything about their product is unique. In fact, there are a lot of products that don’t really have anything new or unique in them. When that happens, it’s the job of the marketer and brand manager to come up with a unique spin to make the product look and feel unique.
Single Minded Proposition/Main Message
Main message is the most direct to the point way of saying what you really want to say. It has to be in one sentence and should highlight the USP. State this in the most direct and unsexy way possible. The main message will be used as the main “point” of all succeeding advertising materials.
Let us apply this.
Road Trip is the only manufacturer of antique miniature cars and bikes.
Insight is a piece of information that is relevant to the plan that you didn’t know before. For our fictional case, our insight may be found on the target market information.
He doesn’t buy on impulse, purchase of cars usually start with extensive research about the different antique vehicles. That piece of information will help the creative team develop materials that provide trivia about certain vehicles. They can then develop more materials where they will find all these “research” materials.
Now that you have the essential parts, time for you to create the details. I will do this exercise in my next article.