Marketing Strategy Kpi Examples – Business and Marketing A go-to-market strategy is an essential part of delivering any successful product, service or advertising campaign.
We’ve written a lot at Smart Insights about the importance of defining target audiences, producing a clear value proposition and optimizing the right marketing mix; Just three elements of a good marketing strategy to ensure brands create a competitive advantage, deliver value to customers and generate profit for the business.
Marketing Strategy Kpi Examples
However, the success of any strategy depends on how it is ultimately implemented and in this post, I would like to look at several different ways to bring this to life as part of a plan to go -to-market (GTM).
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A marketing plan provides focus, outlines the strategies to grow your market share, expand products or move into new markets and ensures you are on track.
There are several ways to define a GTM plan and it is fair to say that people, companies and businesses can define this differently. Some define a GTM plan in a very similar way to a business plan, albeit with a narrower focus and more emphasis on marketing. Others see the GTM plan as the overall strategy for a specific product or service, including some of the elements described at the beginning of the articles, e.g. Defining target market, value proposition, marketing mix etc.
For the purpose of this post, I will refer to the GTM plan in a more tactical and operational way.
It is an action plan built to show stakeholders, managers and clients what happens next after the overall strategy is signed off. A GTM plan can be useful at different stages of the strategy -> implementation process, so one of the skills that marketers must have is the ability to choose the right GTM plan for the right time
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Whether you’re launching your first product, designing a new line, or repurposing an existing package, you need an omnichannel marketing strategy that attracts and retains your target market.
That’s why we recommend the RACE Framework, for marketers looking to optimize product marketing through a data-driven, customer-centric approach. The RACE Framework is structured across your customers’ experience with your product, from hearing the product for the first time to buying and bidding again, the RACE Framework helps you manage the journey customer
You can use the RACE Framework to identify opportunities and challenges in your GTM strategy. Book a free 1-2-1 consultation with the team to discuss your marketing strategy in the context of RACE, and find marketing solutions that will help you win more customers. Schedule your call to find out more. Do you need a successful marketing strategy? Book your free 1-2-1 consultation to develop your new strategy with the RACE FrameworkBook consultation
A good GTM plan will be aligned to one of three different phases in the campaign or strategy planning cycle:
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You may be in the early stages of formalizing an annual marketing plan, at which point you may have a higher and more complete view of channels and products. On the other hand, you may be at the very end of a campaign with a requirement to produce a more detailed action plan.
In the “strategy” phase senior stakeholders or clients will look for a high-level view of how the enterprise plan will be approached. This will include a breakdown of different channels, ballpark spend and general audience personas that correspond to different types of media (ie paid, owned, earned):
No need to go into detail about how each channel will be used (eg Facebook vs LinkedIn), timings and media spend – just a general guide to add another layer of nuance to support the overall strategy.
Once the strategy is agreed and signed off, you enter the next level of detail regarding the shape and composition of the campaign or program. This phase includes details to allow the client or campaign team to begin initial media planning and budget allocation. Key areas of focus include:
Marketing Strategy Template
This type of plan is often built by a combination of an agency design and digital team, usually in a media agency, although creative agencies may produce something that shows how their various ideas will be put together. the action across channels and media:
As with all three types of GTM plans, media type (paid, owned, earned) frames the plan and aligns with the overall strategy to ensure consistency.
The ‘Delivery’ phase is where we can begin to put together the most detailed type of GTM plan, allowing us to hone in on the specific elements we saw in the Plan phase.
It is common practice to look at each channel in detail (separate plans for paid search, paid social, display etc.) so that those running the overall campaign have a clear view of exactly how it will go implement each element. media and creative can be signed and purchased.
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The example below shows a paid search campaign, broken down into campaigns, ad groups, and keyword suggestions. This will also include impressions, clicks and expected results (eg conversions, % of video views etc. according to success metrics):
Due to the specific level of information required, these types of detailed GTM plans are often produced by media agencies only or internal teams responsible for media spend but it is useful to have knowledge and experience of this type of design so that you can consider it. and integration. Ideas and suggestions.
An effective GTM plan allows you to take a big strategy or idea and turn it into an action plan that shows key details, including goals, funnel stage (reach, action, conversion), content, channels and steps.
A GTM plan is where you move from high-level thinking to a detailed roadmap that will bring the campaign, product launch or program to life. While some plans will be very detailed, looking specifically at certain channels such as paid social, search or display, others can be used to support the larger strategy. However, the characteristic that all GTM plans share is the level of detail necessary to allow marketers to take action and bring the activity to life.
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Start optimizing your go-to-market plan with the RACE Framework. Book your free 1-2-1 consultation call to discuss your marketing strategy with an expert today. Do you need a successful marketing strategy? Book your free 1-2-1 consultation to develop your new strategy with the RACE FrameworkBook consultation
Gavin Llewellyn (LinkedIn) is an independent consultant. He is a registered marketer specializing in digital marketing, especially in social media, SEO and online strategy. Gavin blogs at One Too Many Mornings where he offers advice, guidance and ideas on how individuals and companies can effectively use digital marketing to gain online discovery, engagement and engagement. build and generate conversion. You can follow Gavin on Twitter.
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Effective marketing is essential to balance your business and overall strategy. A good CPI marketing dashboard will set you up for success by giving you the data you need to make decisions and help you maintain your marketing strategy.
So which marketing KPIs should be featured in your own marketing strategy and dashboard? Let’s look at some of the more common ones.
We’ll start with a collection of common marketing KPIs that are used across multiple companies. These are ones that suit most businesses and you’ll often find them on the main KPI dashboard.
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Revenue is a KPI that shows up in every situation. Maybe you are a company that wants to increase revenue for growth or a non-profit that wants to increase revenue for charitable projects. Revenue is the metric that provides one of the clearest indicators if the company is succeeding in its strategic approach and is often the ultimate goal of marketing.
One of the most common KPIs for any marketing department is the basic but key metric is number of leads. This is ultimately why there is a lot of marketing, so it would be a key component for any dashboard. Taken further, this KPI is