Since every business’ primary function is to increase sells through exchanging value, your well-drafted marketing strategy generates your own brand of superpower. In fact, your true objective is to “create a product that sells, not to sell a product,” states Alexander Chernev, the author of Strategic Marketing Management: The .
While it sounds more complicated than it actually is, you still have to work at discovering how you will be able to accomplish creating products that seem to sell themselves. You do this by delivering value (real or perceived) to your customers.
By determining benefits assessed from your product, your business structure, competitors, and customers, value is ascertained. Additionally, learning your customer’s needs – perhaps those not met by other offerings or not well by your competitors – and creating excellence with your own offerings cultivate products that sell.
Superpower Your Plan
Your marketing strategy outlines the what of your business. It is what enables you to be a superpower. It does so by empowering your business to create value and builds strong relationships, which then in turn, captures value in return.
Your business analyst section aids helps you clarify your long-term goals. By analyzing your strengths, weaknesses, opportunities, and threats (SWOT) gives you a snapshot of your business, such as how your strengths make you unique and where you need to improve weaknesses. Your business’ ability to develop value has a direct relationship to goals and resources.
Pro Tip: Your SWOT exercise is completed after your.
Define WHY we exist
Defining your purpose is probably the hardest part of this section. It is the point of why the business exists. It requires you to dive into the details of exactly how your offerings satisfy the needs of your targeted customer.
- What is the specific problem you solve for your customers?
- What benefits do your customers receive from your offerings?
Write an overarching business goal statement. This manifesto is a combination of your purpose, vision statement, mission statement, and core values.
It’s more than a business purpose. It’s a relevant guiding principle that relates to people, whether it is members of your team or focused on your customers. It isn’t competitive in nature but should create a desire for teamwork. It’s an emotional connection.
WHAT we want to achieve
Your vision statement is a look at where you want the business to be in the future. It is what the business wants to achieve in a big picture sense is conveyed. This very straightforward statement clarifies the goal. Additionally it is focused, understandable, measurable, attainable, and inspiring.
HOW we plan to achieve the vision
Your mission statement is a declaration of how you envision reaching that goal. It “outlines the aspirational depiction of the key customer benefits and differentiating initiatives,” according to Ryan Rieches of Branding Business.
For example, here is Google’s mission and vision statement:
Google’s corporate mission is “to organize the world’s information and make it universally accessible and useful.”
It is “an aspirational depiction of your key customer benefits and differentiating initiatives,” and it should focus on primary strategies in a clear and understandable way that doesn’t pack in everything. It should tie back into your vision statement.
Core Values Define Your Culture
Core values are those the whole business acknowledges and culturally lives and breathes through its people – inside and outside the organization. It can be measured in behaviors.
These values are important because they provide guidance for ambiguous scenarios and tough trade offs. They influence decisions to drive a business towards its goal.
These three statements and core values assist in providing a clear framework to craft a unique and memorable brand story.