{"id":21752,"date":"2022-12-07T20:34:42","date_gmt":"2022-12-07T20:34:42","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/12\/07\/this-marketing-strategy-is-unbeatable\/"},"modified":"2022-12-07T20:34:42","modified_gmt":"2022-12-07T20:34:42","slug":"this-marketing-strategy-is-unbeatable","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/12\/07\/this-marketing-strategy-is-unbeatable\/","title":{"rendered":"This marketing strategy is unbeatable"},"content":{"rendered":"

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When was the last time you revisited your marketing strategy? Or do you even have one?<\/p>\n

No pre-pandemic marketing strategy is viable in today\u2019s environment. If you haven\u2019t reconsidered your strategy or if you aren\u2019t getting the results that you want and need, it\u2019s time for a change. The modern customer has adapted, and your strategy must follow suit.<\/p>\n

Surprisingly, many marketing organizations don\u2019t have a strategy \u2014 just a collection of disconnected tactics. It\u2019s no surprise that marketers are struggling to get results and meet their goals.<\/p>\n

Continued economic changes add additional pressure and urgency for marketing organizations to throw out their old strategy and adopt a new, more effective strategy to survive and grow.<\/p>\n

What makes a good marketing strategy?<\/h2>\n

A marketing strategy is a framework that provides clear direction on how you will achieve your objectives. It\u2019s not one or more tactics, and not having a strategy is unacceptable.<\/p>\n

Here are 4 of the key attributes of an ideal marketing strategy:<\/p>\n

Reduce waste<\/h3>\n

Waste is the biggest threat to marketing success, and minimizing it is critical for success.<\/p>\n

With an effective strategy, you should be able to minimize your investment. That means spending less time, money, and effort to achieve your objectives.<\/p>\n

Maximize revenue<\/h3>\n

Peter Drucker famously said that the goal of marketing is to create a customer. In other words, marketing must generate revenue.\u00a0<\/p>\n

The right marketing strategy will enable you to not only generate revenue but to maximize it. Every dollar you invest in your marketing must deliver a multiple.<\/p>\n

Accelerate results<\/h3>\n

Most marketing doesn\u2019t get results, but it should. More importantly, the right marketing strategy should enable you to get results as quickly as possible.\u00a0<\/p>\n

Marketers can\u2019t afford to wait around to see if a campaign works or not. You need results fast.<\/p>\n

Improve confidence<\/h3>\n

Insights are the rocket fuel of successful marketing. When you know what works (and what doesn\u2019t), you can have more confidence in the success of your marketing.<\/p>\n

An effective marketing strategy must provide a continuous flow of valuable insights to inform your current and future initiatives.<\/p>\n

These may seem unattainable, but there is, in fact, a modern marketing strategy that makes achieving these not only feasible but virtually guaranteed.<\/p>\n

The modern marketing strategy<\/h2>\n

Marketing is unpredictable, uncertain, and ever-changing. That\u2019s just the nature of the beast.<\/p>\n

To capitalize on this, modern marketers are adopting test-driven marketing as their strategy.<\/p>\n

As a result, no one knows what will work. That\u2019s why testing and experimentation are crucial, especially given how much the world, and consumer behavior, has changed recently.<\/p>\n

Test-driven marketing is a framework that enables marketing organizations to focus on the most impactful parts of their marketing by using a series of experiments to validate assumptions, gain valuable insights, and accelerate results.<\/p>\n

Combining a strategic focus on the areas of highest return with the power of experimentation allows marketing organizations to rapidly get results, learn what works, and avoid wasting time and budget.<\/p>\n

Most importantly, because experimentation is central to the strategy, it eliminates debate about the best way to achieve your objectives. With this test and learn approach, anything has potential until proven otherwise. The best and most successful ideas win based on data and real-world performance.<\/p>\n

All of this makes test-driven marketing the most effective modern marketing strategy. It fulfills each of the four aforementioned key attributes, it\u2019s simple to adopt, and extremely powerful.<\/p>\n

My clients who have adopted test-driven marketing have increased revenue by millions of dollars in the last 12 months, acquired tons of invaluable insights, and have gained tremendous momentum on their objectives.<\/p>\n

If you need a new marketing strategy (spoiler alert: you do) then test-driven marketing is the obvious choice to accelerate your results and achieve your objectives.<\/p>\n

Implementing test-driven marketing<\/h2>\n

Any effective strategy must be simple, easy to understand, and sustainable. Test-driven marketing passes the litmus test with flying colors.<\/p>\n

Here are the five steps for implementing test-driven marketing:<\/p>\n

Step 1: Assess<\/h3>\n

Every strategy is dependent on the arena in which it is executed. That means you must evaluate your industry, competitors, and your capabilities. I\u2019m not talking about a SWOT analysis, which is a frivolous exercise. Instead, you need to map out the areas of the market that have opportunities where you can gain an advantage and maintain a stronghold.<\/p>\n

Step 2: Focus<\/h3>\n

The biggest challenge of marketing organizations is a lack of focus. Test-driven marketing isn\u2019t just about running lots of experiments; it\u2019s about focusing your efforts where they count.<\/p>\n

Work with your team to identify the three or four critical areas of focus \u2014 the things that, if you could improve, would have a monumental impact on the business. These are your strategic pillars, and you must focus all efforts and investments in these areas.<\/p>\n

Having a narrow focus can be intimidating, but don\u2019t be afraid to commit. You can reevaluate your strategic pillars in six months.<\/p>\n

Step 3: Experiment<\/h3>\n

Now that you have a few strategic pillars, you can operationalize experimentation throughout the marketing organization with a focus on your most impactful areas.<\/p>\n

Doing this well requires two things: implementing an optimization and experimentation program and ensuring a narrow focus on the strategic pillars.<\/p>\n

Fortunately, neither are difficult, but they can be challenging for marketing teams that aren\u2019t accustomed to either.<\/p>\n

Step 4: Insights<\/h3>\n

As you begin to run lots of experiments, you\u2019ll gain a bunch of valuable insights. Remember, the goal of experiments is not to get a better result \u2014 that\u2019s a byproduct. The real value in experimentation is the insights that accrue as a result. When you can learn what works and what doesn\u2019t, your marketing becomes exponentially more effective both now and in the future.<\/p>\n

The best way to capture these insights is to build a \u201cbook of knowledge\u201d or an insights library; a central repository of the key observations and takeaways from your experiments.\u00a0<\/p>\n

What has worked well? Why?<\/p>\n

What hasn\u2019t worked? Why not?<\/p>\n

What internal best practices should we adopt, backed by the data and evidence?<\/p>\n

Step 5: Application<\/h3>\n

If you only follow the previous steps, you\u2019ll have tremendous success with your marketing. But why stop there?<\/p>\n

By applying the insights you\u2019ve gained to your existing marketing efforts, you can instantly raise the total level of your performance.<\/p>\n

Too often, marketing teams run out of capacity and can\u2019t fully capitalize on the benefits of the insights they\u2019ve acquired. Rolling out your insights throughout the organization and across your existing efforts is a crucial step that makes test-driven marketing extremely powerful.<\/p>\n

As you become more familiar with test-driven marketing, you can also bring in other departments, including sales, customer support, and customer research, for example. This additional perspective will help you amplify your experiments, gather more insights, and help the organization adopt a test-driven approach.<\/p>\n

Rethink your strategy<\/h2>\n

Modern marketing organizations have realized that the world \u2014 and consumers \u2014 have changed. As a result, your strategy must change with it. Failing to do so would be a catastrophic mistake and one that many organizations are making without even realizing it.<\/p>\n

2023 is your chance to approach marketing from a new perspective. If you want better results, faster, and with less waste, then perhaps it\u2019s time to throw out your existing marketing strategy, and embrace test-driven marketing.<\/p>\n\n

Opinions expressed in this article are those of the guest author and not necessarily MarTech. Staff authors are listed here<\/a>.<\/em><\/p>\n\n

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