For sustained business growth & success, you NEED sharp marketing analysis to drive your online marketing strategy.
Strategic analysis – as essential for the success of startups, small business / SMB firms, as for large corporations.
Use the summaries and tips below – along with a fresh, objective perspective – to get solid insights and results!
The 4 major dimensions of
business and marketing analysis
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Online Marketing
Analysis, Strategy, Plans for
Insights, Improvements, Innovations
User + Customer Analysis
needs, wants, segments, attributes, trends
Highest ROI – Truly understand your target audience – needs, problems, priorities, preferences, usage patterns.
Avoid the common mistake of making (untested) assumptions about users, buyers, customers – AND ignoring the distinctions across (& within) those groups.
Realize the value of both stated (unmet) and unstated needs. User feedback valuable for need/problem assessment – not so much for envisioning new solutions / product innovation.
Competitor Analysis
competitive positioning, product differentiation
Biggest Trap – Avoiding an ongoing study and smart analysis of direct competitors, product alternatives, indirect competition.
Most Powerful Tool – An up-to-date comparative matrix with competing products – with objective rankings along all identified dimensions.
Appreciate and apply the concepts of positioning, differentiation, strategic advantage, order qualifiers vs winners.
Company & Industry Analysis
products & services, brand, competencies, constraints
Most underrated question – What market are you in?
Are your company’s core competencies + attributes (structure, style, strengths, skills, systems, …) suited to your offerings, audience, competition, goals, mission and vision?
Is there a clear business case + value proposition for your products and services – well undertood internally – across functional silos?
Business Environment
Analysis
social, technological, economic, political, legal, ecological
What was the name of that invincible, state-of-the-art ship again? Don’t forget the weather, terrain, … your operating reality!
Whether trains to planes, local shops to online megastores, doctor visits to telemedicine – the influence of tech / social / legal trends is best anticipated and pro-actively dealt with.
Best strategy – scan and analyze positive and negative forces early on – and chart out ways to harness / mitigate them!
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– Key Concepts and Tips
The 4 core marketing and business analysis areas outlined above yield valuable strategic insights that enrich and shape all downstream activities – starting with the formulation of effective marketing strategies & plans. As a result, your business plan and marketing plan implementation efforts become more aligned and effective – helping you achieve key business & marketing goals and a high marketing ROI.
To put it simply, it is not just the old wisdom of "Ready, Aim, then Fire" but also the concept of ongoing learning, applying the lessons, and growing. With the recognition that the key determinant of success is the willingness to look within – along with the determination to continually elevate one’s vision, understanding, and offerings.
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Role of strategic analysis – from vision, marketing strategy, to execution
The infographic below offers a summary and perspective view of the various elements (of business, marketing, strategy, and execution) that need to come together – to take a business from it’s original vision & goals to real world success.
In an increasingly complex, competitive, and dynamic world, the development of a winning strategy / sustainable competitive advantage requires creative and thoughtful consideration, analysis, and brainstorming / innovation across ALL of these strategic components – with a solid understanding of their inter-relationships.
You can get there with a solid combination of good process (plans), tools (online collaboration), and skills (multi-disciplinary / cross-functional) – including a good dose of the 3 PMs – strategic product management, program management, and project management.
Along with leadership / facilitation skills to stimulate good thinking from all core team members, gathering of external ideas & data, healthy discussions & debates, and finally, clear articulation and documentation of developed strategies and solutions.
A final analogy: the power & spectacle of a rocket launch!
The tremendous light and sound show of a rocket launch and the accompanying TV / media coverage is an enjoyable spectacle that is hard to miss.
The reality of these 15 seconds of fame, however, is very different from the diligent, innovative behind-the-scenes work for months and years that leads up to the launch.
Critical work on strategy, planning, and development that determine, for the most part, whether the bright flash of launch will lead to the achievement of mission objectives – which can take days or months to materialize!
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A strategy-driven online marketing consultant can bring fresh perspective, sharp skills, and objectivity to enrich these critical analysis and strategy development efforts.
Contact us today to schedule an initial conversation about your needs & goals – and how we can partner together productively.
An experienced business consultant focused on innovation opportunities – in every strategic dimension of your business – can help refine your firm’s direction as well as execution – in significant ways.
If you need a perceptive sounding board and an innovative strategist to enrich your efforts as you refine or redesign your brand, marketing communications, and products / services, then do get in touch.
- Big-4 Management Consulting firm experience
- Fortune 500 and other leading global corporations
- As well as SMB, small business, entrepreneurial startups.
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