Everyone wants to get the most value out of anything they buy. Anything we spend money on. That also applies to marketing for you and your company.
How do you evaluate the ways to get the most value? How do you measure the value of marketing?
There are four marketing value drivers, and many people don’t think about all four of them, and they bundle a couple of them. Many people don’t realize what’s actually involved with each of these four.
And that’s OK, because it’s common in the marketing field for marketers to not fully understand the four marketing value drivers.
Strategy is a word that people are sensitive about. That entrepreneur who founded the company knows that they know strategy. The CEO and CFO of a large company know that they know strategy.
So, people get sensitive when you say we’re going to help with strategy.
But marketing strategy involves the entire customer experience as well as the behavioral science driving the creative art.
Developing a creative message is not marketing strategy. Coming up with the idea for a tactical campaign through digital marketing is not marketing strategy.
Marketing strategy is about understanding the customer through behavioral science of marketing intel. Marketing research does not have to be quantitative and a huge investment that takes long time.
You can use qualitative market research, marketing…