67 Lessons on Marketing Strategy
Inspired by the Instagram Live conversation between Rachel Mercer and Matthew Kobach. Read my original tweetstorm HERE.
What is Strategy?
Strategy is defining the problem you are trying to solve and the plan to get there
Many people put strategy on the backburner
Without strategy, it's hard to know if what you are doing is successful
Strategy is like running
You can't just start running
You need to decide where you are going to run to and if you have the stamina to get there
Strategy is the rock, pebbles, and sand in a jar story
Is it the new shiny object (eg. TikTok) a rock?
Or is it unnecessary and just taking up space you don't have?
Strategy is the foundation for which success can spring from
The strategy is the GPS, the destination is tactics
No right way to do strategy
Create Your First Strategy
Discovery Phase: Figure out the lay of the land, what channels are we using, what are competitors doing?
Audit: Where you are now and where you need to go
Create from to statements (eg. silo to cohesive strategy)
Frameworks
An organization construct to organize your thinking at any point in time
• Examples SWOT & Simon Sinek Why
• Brand, Purpose, Mission
Strategy and Tactics
Strategy is the overarching plan
Tactics are actions that support that plan
Strategy Example: we are targeting 18-25 y/o that we are tech-savvy
Tactic Example: we will do it on TikTok, create content and do podcast sponsorships
Strategist: where it should live and why we need to create it
Tactic: Creating the ideas and assets for the content
Creating a strategy and executing on the tactics is like curling
Strategy is launching the stone
Tactics are sweeping it to the target
Social Media Strategy
Social media is constantly changing
Most brands are focused on engagement
That is usually the wrong strategy b/c their messaging is inconsistent and not thematic
Social is cheaper historically
It's easier to test because you can hyper-target and gelocate
KPIs are immediate compared to traditional channels
Social media strategy is a way to achieve marketing strategy
We are living digital-first lives (more people consume digital content than traditional content)
It's a living strategy (eg. Covid-19 shifted strategy)
What are you trying to achieve?
Someone should follow us because of X
This dictates what channels to use
Internet Culture Affect Strategy
Tailor to the culture of the industry and channels
Industries are diff (eg. Spirits vs Financial Services)
Channels are diff (eg. memes on TikTok are constantly changing)
Brand Authenticity
Strategists are modern-day anthropologists
Strategists bridge authenticity and culture
Organic Social
It's possible to only do organic, but rare
Don't use traditional metrics such as views to measure organic
One example of a measurable ROI is perception of trust
Organic typically needs to be supported by paid
Steak-umm is a brand that does very good organic
They are the exception to the rule
Brands need to wean off filing feed
Content needs to drive or fuel conversations
Content is best when it's consistent
Creative Strategy
Misnomer of word
Strategy and creative work together
It's a parternship
Social Media Strategy vs. Marketing Strategy
The two go hand in hand
It's possible to have a social strategy without a marketing strategy, though not the norm
Glossier is an example of a brand that was a social-first strategy
How Can You Be Better on Twitter?
Follow @JuiceboxCA
He added value to a niche network by curating social ads
Have a unique point of view
Why Do People Share Content?
Strengthen bond with network
Define myself (eg. collective identity)
Status
What Do People Get Wrong About Strategy?
People don't view strategy as valuable
They don't understand how it drives business results