Having a high-level financial objective is definitely important but often people in the field have difficulties to link this high-level objective (generate a revenue growth of 5% thus 1M€ more) with what they could do!
Interesting article from Roland Berger Consultants about Sales in a Digital World. Their thesis is that you need to master 3 Cs if you want to have a voice in this new world:
- Develop the Customer Base: It is definitely in line with what I am preaching. You should not only focus on acquisition but also on stimulation and retention. The CLV dimension of the Marketing Canvas is telling you how much you perform versus your ambition;
- Orchestrate the Channel: I also agree but I would extend this to Orchestrate the Customer Journey as it is much broader than channel and it is integrating elements like Brand experience, touch-points, emotions and wow moments.
- Manage the complexity: it is maybe fluffy as notion. We all know that we should manage the complexity, the question is how should I do that. One possible answer is in the article when they discussed centralisation. I think the key element there is to automate your processes (BPM, scripting, algorithms, ...) in order to reduce the chaos and uncertainty. but don't forget to keep the human part.
Source: Roland Berger, Think Act, The digital future of B2B sales
Pensée du jour sur la tension qu’il existe entre les clients et l’innovation. Sont-ils antagonistes ou non? Les clients peuvent-ils être dangereux, ce qui est assez illogique pour un marketer?
Canvas works really well if:
- Start with a clear ambition, S.M.A.R.T. and linked with the finance. One of the usual mistake when doing a marketing strategy exercise is to not properly link the marketing actions with the financial consequences. In the Marketing Canvas exercise, we genuinely start from the financial ambition for addressing this issue. This ambition is about growth and thus the canvas is about growth hacking your marketing strategy.
- Start with a clear persona representing a customer cluster sharing the same Job To Be Done (problem to be solved by your offer). It could happen that you can't achieve your ambition with your current persona/segment (in classical strategy, it corresponds to a cash cow or a future dog). If it is the case you should consider another segment with another job to be done.
- Assess the current situation of your marketing mix by asking the 28 questions as defined in the canvas. Define clearly if each dimension TODAY is helping you to achieve your ambition (it is an accelerator) or is not (then we define this dimension as a brake). Do this exercise in team as it will create a shared understanding of the situation and support your answers with facts.
- Backward thinking is a very powerful way of finding solutions to any problem. In this process, try to visualise/imagine how dimension(s) defined as BRAKES would look like if they would help you with your ambition. What is different? Could you describe it? Does it really help with your ambition? If yes, then you have one idea of potential solutions. Find as many ideas as possible.
- Having generated plenty of ideas (some could even be yellow ideas aka impossible ideas), you should prioritise it in order to finalise your preferred vision of this future where your ambition is achieved. What are the actions you should do to transform this future into a reality: Start Doing, Stop Doing, Do More, Do Less, Simplify, Magnify? Brainstorm as a team and list all actions.
You now have identified all actions for building your future but you have to organise it into a comprehensive and feasible roadmap. Some actions are low hanging fruits while others require more time and effort. One way to do this is to use these 2 criteria: contribution to the ambition and effort. Congratulations, you now have a roadmap and a marketing strategy.
In a world strongly influenced by new technologies, new business models are emerging for brands. We usually defined this new world as a digital world but what digital really means? In this presentation, I explore the impact of digital and propose some recommandations that could help defining new ways of creating and capturing value.
What is the best way to start defining the marketing strategy of your company, business or activity? My proposal is to start with a bold strategic question! Why?
As CMOs gain more power in the boardroom — and over technology spend — it will be critical that they understand the factors that drive success.
When you work on your commercial strategy for your startup, you can facilitate this conversation with using the Marketing Canvas (more on the canvas here). Please find below 10 steps you should follow:
- What is your ambition? Big Idea? Define a question that will clarify your projected future like How can we achieve 1M€ after one year of operation? How can we generate 5% growth next year? How can we differentiate our brand in a digital world where predictive technologies driven by AI will become a standard?
- What is the problem you are trying to solve? Clarify the job to be done for your customers.
- Who is our buyer and user? Define your persona.
- If not you who else? Define the category where you are playing and what are the alternatives for your buyer.
- How do you want to be remembered? What people will say about you? Your BRAND
- What is your answer to the problem your buyer has? What is your value proposition? Do you have USP, ESP, Clear Pricing and Proofs?
- What experience people will have with you? Will it generate sales and engagement? JOURNEY
- How do you discuss with your buyer? Do you have conversations? Do you listen? Do you have content, stories, influencers? Which media do you use?
- Does it make any financial sense? What is your Marketing Budget and Revenue?
- If you don't think it all works, iterate one more time
Use the canvas and answer to these questions using all dimension while asking the same question:
Will my .... help me to achieve my ambition?
RED: Not at all: ORANGE: Somehow unlikely; YELLOW: Somehow likely; GREEN: Definitely
ORANGE and RED dimensions must be reviewed or mitigated because that are not helping you to achieve your ambition.
Interested in the Marketing Canvas, you can find more information here.
Bill Hartman proposes the MoSCoW mode for helping Designers to set creative priorities but it works for all new initiatives basically like requirements, new experiences or new products. MoSCoW is a technique for helping to understand priorities.
Interesting article from Mark Schaefer on Marketing and Love.
In a world of Infinite Segmentation where Brand building is out of control, all you need is love. People want to be acknowledged … and loved … more than anything. The vast technological opportunities at our doorstep are the way we can scale love.
The Marketing Canvas could help you navigating in this hyper-empowered consumer world! Don't know the canvas, discover it here.