The Marketing Canvas, developed by Laurent Bouty, is a powerful tool that provides a structured approach to crafting a robust marketing strategy. It's a co-creation method that intersects your environment (where you will play), your goals (what you would like to achieve), and your actions (what you will do). This article focuses on the second step of the Marketing Canvas Process - setting your goals. This step is vital as it serves as the reference point for the assessment phase.
Three Strategies for Growing Your Revenue:
In the Marketing Canvas Process, three strategies are highlighted for growing your revenue: GET, KEEP, and STIMULATE/MORE. These strategies focus on different aspects of customer interaction and are designed to help businesses increase their revenue.
GET: This strategy is all about customer acquisition. The primary idea is that your business can grow by attracting new customers. Tactics that can be employed include acquisition campaigns (welcome offers), channel incentives for new customers, "bring a friend" campaigns, and freemium models. For instance, a new restaurant might offer a "buy one get one free" deal to attract new customers.
KEEP: The second strategy emphasizes customer retention. The main idea here is that your business can grow by retaining existing customers. This strategy might seem defensive, but it is the cornerstone of customer experience and is essential for all businesses, including startups. Tactics include churn management, loyalty programs, brand and customer experience reinforcement, Net Promoter Score (NPS) programs for detractors, and below-the-line retention campaigns. For example, a software-as-a-service (SaaS) company might implement a loyalty program that offers exclusive features or discounts to long-term subscribers.
STIMULATE/MORE: The third strategy focuses on customer stimulation. The primary idea is that your business can grow by encouraging your customers to spend more and/or more often. Tactics include cross-selling, upselling, promotion campaigns for usage stimulation, bundling, upgrade programs, and premium features. For instance, a telecom company might offer a bundle that includes internet, cable, and phone services at a discounted rate, encouraging customers to spend more.
Green Clean Use Case:
To illustrate these strategies, let's consider a hypothetical company, Green Clean, a startup offering eco-friendly cleaning services.
For the GET strategy, Green Clean could offer a discounted first cleaning service to attract new customers. They could also implement a referral program where existing customers get a discount for each new customer they bring in.
For the KEEP strategy, Green Clean could develop a loyalty program where customers get a free cleaning service for every ten services purchased. They could also focus on providing excellent customer service to ensure customer satisfaction and reduce churn.
For the STIMULATE/MORE strategy, Green Clean could offer additional services like deep carpet cleaning or window cleaning, encouraging existing customers to spend more. They could also offer a premium subscription service that includes regular cleaning and maintenance services.
Conclusion
Setting your goals is a crucial step in the Marketing Canvas Process. It provides a clear direction for your marketing efforts and serves as a reference point for assessing your progress. The three strategies - GET, KEEP, and STIMULATE/MORE - offer different approaches to growing your revenue. By understanding these strategies and how to apply them, businesses can create a robust marketing strategy that drives growth and success.
Remember, the Marketing Canvas is a dynamic tool. As your business environment changes, you should revisit your goals and strategies to ensure they remain relevant and effective. Regular review and adaptation are key to maintaining a successful marketing strategy.
Whether you're a non-marketer, an entrepreneur, or a marketer looking to learn something new, the Marketing Canvas offersa structured yet flexible approach to developing a marketing strategy. It breaks down complex marketing concepts into manageable steps, making the process more accessible and less intimidating.
The Marketing Canvas is not just a tool, but a journey. It's a process of discovery, assessment, and reinforcement. It's about understanding your market, setting clear goals, and determining the actions you need to take to achieve those goals.
So, are you ready to embark on this journey? Are you ready to set your goals and grow your business? Remember, the journey of a thousand miles begins with a single step. In the case of the Marketing Canvas, that step is setting your goals.
