The 5 Step Marketing Process
In our last post, we shared the 5 step customer buying cycle, and what you need to know to build effective marketing strategy. Today, we’re shifting our focus from that external view to the five step internal marketing process.
First, a quick lesson. If you don’t live in the world of marketing, it’s easy to misunderstand what marketers do. Yes, our work requires a degree of creativity, but marketing is actually a business discipline. We study strategy, business planning, logistics, pricing, process, product and service offer development and, yes, promotion. What most people refer to as marketing is actually marketing communications- the promotional component of our marketing mix. And, it’s no wonder. Marketing communications is the most recognized piece of what we do.
As a result, people often use the term marketer when referring to all kinds of jobs- graphic designers, website developers and copy writers, for example. In fact, to execute great marketing, you need a well-rounded team that includes marketers (strategy and planning), creative talent (design, copy writing, photography and video) and builders (technology and coding). That’s what we love about our business model! We pull together just the right team at just the right time to meet your marketing needs. But, enough about us. Let’s talk about the five step internal marketing process!
DISCOVER - Before we can build and implement a marketing strategy, we need to discover potential market opportunities. During this phase, we’re looking for market segments that may be over-served (like small businesses that don’t align well with traditional marketing agencies), or under-served (like entrepreneurs who are frustrated with coordinating single-service providers for marketing projects).
RESEARCH - Once we have identified a potential market opportunity, it’s time to dive in and learn more about it. This is the market research phase. We start by documenting what we know about the market, competitive landscape and target audience. Next, we make a list of what we still need to learn. The goal at this stage is to fill knowledge gaps.
ANALYZE - At this point in the marketing process, there is a lot of data in front of us, but it’s just a collection of facts and figures. Through analysis, we study the data and ask what does this mean? The answers provide market insight that we transform into information. That information is what informs the next step in the marketing process- strategy.
STRATEGIZE - The strategy phase is where big decisions are made. Using the insight and information we’ve gained, we work to set specific and measurable objectives, and then determine how those objectives will be met. This stage is where we typically meet our marketing communications clients. They know who their target customers are; they just aren’t sure how to reach them.
EXECUTE - At this stage, we pull together a powerhouse team to execute the marketing strategy. Every strategy is unique- just like your business. We bring together the perfect mix of marketers, creative talent and builders to get it done. It’s a collaborative effort that results in cohesive and effective execution- and provides you with a single source of talent.
So, there you have it! This five step marketing process goes hand-in-hand with the five step customer buying cycle. While you’re on a strategy journey inside of your business, your customers are on their own journey to finding you.
Marketing Flexibility, LLC