Fill In The Blank Marketing Strategy Statement - there are five key elements of a marketing strategy:
Your Unique Benefits
Your Business Category
Your Target Customers
We have consulted to businesses that are as small as a brand new start up to as large as a multi-million dollar, 75 year old company. And there is always a lot of discussion, research, and debate through the process of understanding a particular business marketing strategy.
To rein in the conversation and help the leadership refocus on the correct foundation we ask each member of the leadership team to write a two sentence marketing strategy statement based on the following Fill In The Blanks format:
_______________ (company name) is the leading _______________ (category) business that provides _______________ (unique benefits) serving _______________ (target customers). Unlike other _______________ (competitors), _______________ (company name) leads the field at _______________ (2 most important unique benefits).
We see our clients growth rate increase notably when they complete the exercise and implement marketing plans and programs that directly align with the clarity provided in the marketing strategy statement.
Give this exercise a try. If you are a new or small company with a small leadership team, take advantage of other input. Talk with your employees, your best customers, even friends and family, to get a variety of perspectives on defining your Marketing Strategy Statement five key elements.
Creating a clear marketing strategy statement is not what big companies do. It is what small companies did to become big.