A great marketing strategy is based on data that is actionable and useful. It is based on information that can be used to set the right budget, create measurable goals and also be used to follow-up and validate the strategy
When laying out a tactical marketing strategy that includes budget, targeting, media channels, reach and expected outcome you need to have the data you can rely on for those activities and goals.
With Samhub you always start with the customers.
Your customers are the best gauge of your business. They are the answers to many of the strategic questions that a good marketing strategy needs to answer.
If you are reading this I will assume that you have done a first analysis of your audience and customers. If you haven't you can read a bit about it here.
And if you have done an analysis I am sure that many new ideas and concepts have made their way into your imagination and creativity. But. Before getting too carried away lett's start with the basics.
Any good strategy starts with a goal
The goals in themselves are not something we can help you with, but once you have defined them we can help you operationalise it. Goals are usually growth related or positioning related. I.e. how much more we should sell or how we will position ourselves on the market, often both.
With an Audience Analysis you will have a very good idea of who your customers are and what your market position is. That means you will have a good idea of which Mosaic segments that are most important to you and what your market penetration in those segments are.
Now it is up to you to decide if you want to increase your penetration in your existing segments or if you want to expand into new segments. A strategy focused on acquiring newmarket shares are most likely gonna require a bigger effort (and budget) than if you want to increase your saturation in a segment where you are already well established.
Your move.
Define your market and what part of it you want to target
Most of us have big ambitions, but when it comes to strategies we need to be rational and set the right expectations. A good strategy tells you just as much where to focus your resources as where not to spend them. What 5,10 or 20% of the market is it that you should spend your marketing budget on? Or what 90% of the market SHOULDN'T you spend your hard earned media dollars on!?
With a good view of your current market share and position you can define your market goals: I want to increase our market share in segment A & B by 15% and get a 2% market share in our new segments C & D. And when working with true market data you can translate this into: 15 000 new customers in A & B and 3 500 customers in C & D.
You should also define your market geographically, as this will impact your segment sizes. Here you budget will most definitely come into play. Do you have a local, regional, national or pan-Nordic budget size? And of course, is your market offer local, regional or national? Once you have defined this you will have an even better understanding of the market potential.
This you can do with Samhub and Mosaic Lifestyles.
Let's research your segments
With a good definition of your strategic market segments and your geographical market you have a target for your marketing. Now the question is if your budget and tactics will align?
With Samhub you can now start researching the segments in depth. What are their lifestyle choices? What are their financials? Are they traditional or adaptive? With Samhub it is easy to dig deeper and research your segments. You can identify suitable marketing channels and build you tactical plan for your media mix.
1, 2 or 6 segments - make it manageable
Even if you have identified 4 or 8 Mosaic segments you need to build a plan that you can execute on. It needs to fit your resources. A plan that divides the communication in 8 segments will require 8x as much creative production. That is why we often create communicative segments or market persona segments that contain Mosaic Lifestyles that are similar enough to be communicated with as a single marketing audience.
And there is no single answer to this. This depends on what your offer is, how it resonates with your audience and what the brand values are that you communicate.
But if you can find your angle on the segments and your communicative audiences you can embellish them with your own data, information you know and no one else knows. This will create communicative segments, your own unique audience where market information is combined with your knowledge of your brand and of your customers.
Combine it - market, segments, media mix, personas & tactics
With your market defined, your customer and market personas defined and with a media mix planned you need to combine it into a cohesive plan.
Example:
Mosaic A & B are similar when it comes to income, purchase power, geographical proximity and adaptivity. They are both reading the news online, live in or around the metropolitan areas, more likely to use Instagram than Facebook and have or are planning to have children. That is why we define them as our Audience 1.
Mosaic C & D are similar in that they are younger, have lower purchase power, lives in rented apartments or condominiums, are adaptive and most likely have no children yet. That is why we define them as our Audience 2.
As all 4 Mosaic Lifestyles live in or around the major urban areas and we have an online service we will define our geographical market to the bigger cities. As this limitation also aligns with our budget constraints. Even though we could serve the whole market. This would make Audience 1 about 870 000 persons in size and Audience 2 about 850 000 persons.
We would create a "always on" media mix for Audience 1 of Google Ads, Instagram, News websites and streamed TV ads. And combine it with digital outdoor, streamed radio and pods and Native Click Ads during campaign periods.
For Audience 2 we would combine Google Ads, Instagram, Facebook and Youtube. For campaign periods we would add CTV and Digital Outdoor in shopping malls and restaurants.
As Mosaic can be used for targeting through Samhub it is easy to target the right audiences in all media channels.
Setting the budget, calculating the reach
With the audiences well defined it is possible to calculate what a given budget would yield in terms of audience reach per month.
Example:
With an audience size of 850 000 persons the reach in display advertising with a budget of 100 000 SEK/month would give you a reach of approximately 250 000 unique users (with a frequency of 2), making the reach 15% (if we consider an targeting accuracy of 50%). This way you can calculate any channel and expected reach, making it a mathematical exercise instead of guesswork.
Reversing the script
You can go about this in different ways. Either you get a budget and then calculate what you can get out of that budget in terms of reach and audience penetration.
Or you set a goal. We want to reach 10% of our target audiences every month and that will cost X SEK.
What you will get with a tactical Samhub marketing strategy
If you follow these steps you will have created a very good understanding of your market and how to process it with your marketing.
You will have created communicative audiences that defines your brand and that you can effectivly target with your marketing.
You will have set operational goals for your marketing that you can measure and follow-up with Samhub on a daily basis.
Efficient execution: Samhub
With the plan ready you want to put it to work, but marketing is complex and expensive to manage. To get the most out of your marketing budget you want to execute and manage it as cost efficiently as possible. But many marketing channels often require many consultancy hours.
With Samhub you can seamlessly go from analytics to strategy and tactical marketing.
With the Samhub Marketing Plans you get the complete Samhub marketing suite with analytics, full customer support, continuous analytics and reporting, guaranteed marketing volumes - at a fixed price. No hourly consultancy fees.
Want to know more on how to get started? See this example of what an analysis looks like with Samhub.