6 simple principles that could help you when working on your Marketing Strategy. Some companies are trying to be perfect before moving to step 4. While we should always do our best at step 1-3, I believe the most important are 4-6.
One clear objective of the Marketing Canvas is to facilitate debate and discussion around a clear strategic challenge question. Most of the specialists of the leadership topic agree that one of the key reason why strategy is failing is because the decision that has to be made is unclear! When you do the strategic marketing exercise, you need to be crystal clear about which question you are trying to answer.
The tool has been designed for facilitating the discussion when designing your strategy.
High-level process is:
- You start from an ambition/question (like increase revenue by 5%, have more digital transactions, be more meaningful, ...)
- You discuss using the 28 dimensions asking:
- What's blocking you to achieve your ambition? (brakes)
- What's helping you (Accelerator)?
- You can support this rating using any information, knowledge you have but it works also if you only rely on qualitative information.
- Then you map your answer on the Canvas. Red are brakes; Green are accelerators.
- Then you try to analyse these brakes/accelerators and understands what cause them, what are the correlation.
- Then you start ideating (brain-writing, co-create, ...), find crazy or impossible ideas) on what you could do (magic diamond, do things better, do different things).
- Then you prioritise your ideas.
- If you can you test it.
- Then you have your action plan.
The Marketing Canvas is evolving. We have changed 2 main dimensions as it reflects more the Marketing reality.
If you want to design the marketing strategy for your business, you should first start to analyse where you will play. What does it mean? It means that your product/service will be associated by consumers/buyers with other alternatives they have on the market (maybe no alternative exists which means that you creating a new category also referred as a blue ocean).
In the Marketing Canvas, we have the REVENUES dimension. Usually, I recommend to start from there because it is the global constraint of the Marketing Strategy exercise. This is what you will have to deliver!
Marketing Canvas helps you when you build collectively the Marketing Strategy of your business. It works for entrepreneurs but also for corporate. It is strongly inspired and aligned with Business Model Canvas, Value Proposition Canvas from @AlexOsterwalder, Lean Startup from @ericries and Design Thinking from @ideo .