Marketing planning STEP 1: Find out the brand value internally and analyze environmental trends externally
Only by knowing yourself and the enemy can you win every battle. The first step in formulating a marketing strategy is to understand the current situation. At this stage, the brand can understand its own strengths and weaknesses through SWOT analysis , further use TOWS analysis to see the company’s potential, then use PEST (EL) analysis to observe the industry environment, and use five forces analysis to identify all competitive forces in the market.
Take the well-known beauty brand bulk sms master Paula’s Choice as an example. During the SWOT analysis stage, Paula’s Choice may have found that its brand advantage lies in the product itself. In the PESTEL analysis, it was found that Taiwanese people rely on LINE. Finally, due to the five forces analysis, they realized Threats of other competitors and possible substitutes.
Through these analyses, brands can be helped to determine the correct strategic direction. Paula’s Choice decided to adjust its marketing strategy in 2023 and switch to LINE for conversational marketing. Within one year, the average customer order and member retention rate increased by as much as 10%!
(Read the complete case: “Paula’s Choice” LINE Marketing 3 stages to cultivate high-value customers, monetize traffic and increase customer orders )
Marketing planning STEP 2: Lock in the main market and target customer groups
After seeing the situation clearly, it is never a good idea to invest blindly. Choosing the battlefield is the first priority. When resources and budgets are limited, brands can use STP analysis to determine clear target customer groups, isolate more precise exclusive markets, and focus on marketing based on the preferences of this consumer group.
Take the time-honored media Tianxia Magazine as an example. Traditional paper media are facing digital transformation, and re-focusing on customer groups has become a marketing focus. Using STP analysis, Tianxia Magazine may analyze that readers have different needs, such as acquiring new knowledge every day, paying attention to specific topics from time to time, etc., and decide to launch attacks on customer groups with daily news needs.
Accurate sniping can reduce marketing costs and create maximum benefits. Tianxia Magazine is committed to pushing keep your email list free of email addresses that customized news to LINE friends every day. It accumulates millions of messages every month and still maintains an average open rate of 27% and a click-through rate of 12.3%. It has successfully cultivated a group of loyal subscribers!
(Read the complete case: Frequent updates of Tianxia Magazine’s LINE tags + super-segmented audiences, successfully creating high-click active accounts )
Marketing planning STEP 3: Integrate marketing mix
When preparing to launch a product and marketing plan, you need to consider the most advantageous marketing mix. Brands can put themselves in perspective through the 4P , 4C and 7P analysis methods, not only considering the brand’s own debdirectory profits, but also starting from the consumer’s perspective to tailor a marketing plan that is loved by the customer base.
Take Good Times, the leader in the women’s sports industry , as an example. In order to increase the loyalty of a large number of members in the Shuangbei region, the brand may use 4C and 7P analysis methods to take care of consumer experience, choose an omni-channel marketing strategy, and continue to optimize the customer journey .
