Global Marketing Strategy Example

Global Marketing Strategy Example – Any company that wants to attract users or customers needs a marketing strategy. Find out how to make your own and what it looks like.

A marketing strategy is a plan for launching a new product or service in a market or for launching an existing product in a new market. Thus, marketing strategies focus on the short term, but effective ones will also consider how immediate success can be sustained in the long term.

Global Marketing Strategy Example

There is no standard format for a marketing strategy. Different companies will need to consider and prioritize different elements, including their maturity, market presence, business model, how they are organized and financed, and what their exit plans are.

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Any project that aims to attract new customers needs a marketing strategy. Some obvious scenarios are:

Even companies and products that consider themselves established can benefit from periodic review of their go-to-market strategy as a way to stay aware of and prepare for new competition and other market forces. So should your business have one? Of course

It is possible to succeed without a go-to-market strategy, but you need a once-in-a-generation product or a large fortune to do so. A good marketing strategy is designed to minimize risk and maximize return on investment (ROI) by gathering knowledge before the event and using that information to take the most effective actions.

Companies A and B have new software products with the same capabilities. Company A opens for business first, without a marketing strategy. You may get happy initial sales, but soon the new customers dry up. He doesn’t know where to go to get new customers, or exactly who to talk to, or what to find. They try to cover all the bases, but find that their marketing budget is stretched too thin and their advertising messages aren’t resonating. It quickly outpaces the competition. Meanwhile, the customers they have acquired are increasingly frustrated by the lack of support and end up going elsewhere.

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Meanwhile, Company B prepared a detailed go-to-market strategy before taking sales dollars. Their marketing budget is concentrated in the few countries they have estimated to be the most profitable, and their advertising is designed to attract a specific professional group. They also took the time to create a purchase process that is not only easy to follow, but also encourages new customers to measure their product usage. And by tracking users and key financial metrics, they can authoritatively predict how they will grow, and thus the additional resources they will need to enable that future growth.

But go-to-market strategies are not enough. Going to market is one of the three strategies necessary for growth; Product strategy and revenue distribution strategy being two others.

The product strategy should clearly define the challenges that the solution aims to solve, who benefits and how those benefits are realized (eg cost savings, time savings, increased performance or improved security). The product strategy should compare the product’s capabilities with similar solutions on the market, and explain how it excels and where it falls short.

A revenue strategy describes how to organize the operational elements necessary to support product growth. It’s a comprehensive revenue delivery strategy that includes how orders are taken and processed, customer records are maintained, users are logged in, approved, billed and sold, and stay on the right side of financial and legal regulations. What it takes to stay.

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So the best products (the result of product strategy) will fail without customers (delivered by go-to-market strategy); And the best products, with most customers, will fail if sales are not processed and service levels are not maintained (included in revenue strategy).

But not all go-to-market strategies fit neatly into the middle of this journey. How you approach your go-to-market strategy depends on your growth. In simple terms, there are two options: product-driven growth; and sales-led growth.

Product marketing strategies put the product at the center of growth. Not only is the product a solution to a business problem, but it also acts as a silent salesperson for customers to skip the product and buy, upgrade, and upgrade. The key to this self-service sales model concept is not only the absence of a salesperson at the point of purchase, but also the discovery and research phase of the sales journey. In theory, everything a potential customer wants to know—from solution features and technical requirements to pricing options and contract terms—should be available in the product.

Product marketing strategies are a game of volume, with tactics like freemium offers designed to attract users first before they become paying customers.

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In product marketing strategies, the product is the main sales channel, so the distinction between product strategy and marketing strategy becomes clearer. Elements such as site architecture, product design, UX and copy determine the customer journey, and thus become critical to the go-to-market strategist.

A sales-oriented go-to-market strategy involves salespeople initiating and closing sales. While the product will be a key part of the sales conversation, the sale itself (and future upgrades and upgrades) is removed from the platform. This is when the product is so revolutionary, or complex, or expensive, that the purchase decision involves many stakeholders and many months of commitment. The sales process is resource-intensive, and as a result, businesses will focus on getting fewer sales at higher prices.

Because sales marketing strategies are driven by people, product plays a minor role, so the ongoing relationship with product marketing is weak. Instead, in a sales-led growth plan, product marketing and go-to-market strategists will work together early on to define the solution’s benefits and target audience. Likewise, in a sales-oriented go-to-market strategy where the product is not a means of processing orders, the product and revenue delivery strategies are very separate.

Whether you are launching a new startup or a new product; And regardless of whether you’re following a product- or sales-led path to growth, a good go-to-market strategy has some basic elements. Here we will look at four key areas that you should consider when developing your marketing strategy.

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As we saw with the relationship between marketing, product and revenue strategies, these elements are not linear. they are interdependent, meaning that the answer to one question will inform (or cancel) the other. That said, every marketing strategy has to start somewhere. It will often be driven by the history or culture of the business.

Startups that set out to solve a problem that frustrated their founders will likely start with product-market fit and design a business case around it; An enterprise vendor with the tools to rapidly innovate, on the other hand, can push what customers tell them they need. Similarly, an opportunistic entrepreneur may conclude that each product in a range is too expensive or suffers from poor customer service and sets out to fix it.

Where you start with your go-to-market strategy is not as important as making sure you focus on all four elements in parallel. This will ensure that the final go-to-market strategy is holistic, thorough and consistent.

Markets can be defined in a number of ways, and each must be considered in a marketing strategy. Markets can be a specific sector, occupation, demographic or physical location. Sometimes it requires a little thought. A workforce management software platform should clearly be aimed at HR professionals. An app that provides public transport timetables in Japan is unlikely to be very successful in other countries. But sometimes there is more than one goal. For example, the users of your product may not be the ones making the purchase decision; And there may be a separate person who needs to sign off on the budget.

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Complicating things is another way of structuring business and making decisions. In one business, you just need to convince a middle manager, while in another, you’ll need approval from the top. If your product is software or other technology, IT and security people will likely tell you to make sure it integrates with their other systems. There can also be influencers, both internal and external, whose words have power. The key is to create personas for each possible goal that help move the strategy from abstract to reality.

The same goes for choosing your market segment. Products designed for a specific vertical (think compliance software for banks or security equipment for construction companies) should only cater to that particular sector. But for a product with cross-sector appeal (ie supports a general business function such as finance, HR or CRM) planning.