Premier Marketo Partners

APAC’s largest Marketo agency, founded by Ex-Marketo staff. Providing Marketo integrations for Magento & WordPress, Marketo addon software, training and certified professional services.

sales

Premier Marketo Partners

APAC’s largest Marketo agency, founded by Ex-Marketo staff. Providing Marketo integrations for Magento & WordPress, Marketo addon software, training and certified professional services.

sales
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What Marketing Tactics Are Right For Me?

Knowing the right marketing tactics is very important so you don’t waste time and money in using those that don’t suit your product and market. The right marketing tactics depend on your product/service, as well as the market you are selling to. For example, the marketing tactics for a luxury car is very different to the marketing tactics for a video editing service.

marketing tactics matrix

Before we introduce the marketing tactics, determine which quadrant your business belongs in by answering the following 2 questions:

What is your target market’s maturity?

  • High Maturity – your target prospects have bought a similar product/service in the past (or know many people who have), and there are a lot of competitors targeting similar prospect pain points. Examples are women’s shoes, recruitment agencies, property developers, photocopiers, and online stock trading.
  • Low Maturity – your target prospects are reacting to a change in situation. They are in a new or morphing market, and there are few competitors targeting the same pain points. Examples are online accounting, smartphone payments, iPad sales presentation app, and marketing automation.

What is your product/service complexity?

  • High complexity – your offering is not easily understood by your target prospects; it is either unknown to them or the buying process is a lengthy one.  Examples are marketing automation and negative gearing investments.
  • Low complexity – your offering is either well understood by your target prospects or easy to explain. Also, the buying process is a short one. Examples are luxury vehicles, online accounting, and recruitment services.

What is your recommended marketing style?

The next part in choosing the applicable marketing tactics is to identify which quadrant you belong to based on your answers above. Each one will fall into one of the 4 recommended marketing tactics:

Prospect Screening (aka the Doorman)

As the doorman, you need to attract the ‘right’ kind of customer to enter and block the rest. Quickly determine if prospects are the ‘right’ fit and sell to them early without lengthy nurturing. The key to this style is having a long line of people to pick from!

Project Screening is an effective strategy in this quadrant as prospects are not being targeted by many competitors who can offer the same benefits.

For example, accounting firms operate in a mature market; however, online accounting firms are new. The benefits are simple to grasp (reduced costs, convenience, and simplicity) by the right target prospects and the buying decision doesn’t take long.

Suggested marketing tactics for attracting prospects:

  • Content Marketing – create content to emphasize business imperatives (e.g. reduce accounting costs)
  • Inbound Marketing – target ‘business imperative’ keywords with PPC & SEO (e.g. Low-Cost Accounting)
  • Direct Marketing – send email blast, use telemarketing and social blast to very targeted databases (e.g. franchises of a specific size)
  • PR – build visibility as a supplier for your target business imperative (e.g. publications targeting CFOs)
  • Marketing Automation – carry out short time-frame nurturing focused on benefits, removing barriers to action and closing call-to-actions (e.g. email nurture program with sign-up incentives and phone calls)
  • Social Media Marketing – target social influences to drive traffic and increase SEO

Prospect Capturing (aka the Promoter)

As the promoter, you should be good at finding likely patrons and getting them into your business. Find prospects that are serious about buying, and nurture them until they are ready to talk to sales. The brand is a key factor in being selected, so brand-building activities are important.

Prospect capturing is an effective strategy in this quadrant as prospects have bought similar offerings in the past, but they would benefit by understanding how to differentiate between competitors.

For example,video production companies operate in a mature market with many competitors. It’s more efficient to focus on prospects that are in an active buying cycle.

Suggested marketing tactics for attracting prospects:

  • Inbound Marketing – target product/service keywords with PPC & SEO (e.g. corporate video production)
  • PR – focus on solution showcases, industry awards, and product round-ups (e.g. video production awards)
  • Content Marketing – create product content which helps prospects choose between competitors, explaining the benefits of effective use (e.g. what to look for in video editing services)
  • Social Media Marketing– focus on key persona groups and communities (e.g. video marketing groups)
  • Marketing Automation – carry out short time-frame nurturing focused on benefits, removing barriers to action, and closing call-to-actions (e.g. email nurture program with sign-up incentives and phone calls)

Prospect Guiding (aka the DJ)

Like the DJ who uses music to influence the crowd and give them a good time, engage likely prospects and nurture them until they are ready to buy.

Prospect guiding is an effective strategy in this quadrant as prospects are evaluating many complex offerings from different suppliers.

For example, negative-gearing investments operate in a highly competitive consumer investment market and are complex to understand.

Suggested marketing tactics for attracting prospects:

  • Inbound Marketing – target broad functional and outcome-oriented keywords with PPC & SEO (e.g. reducing tax)
  • Marketing Automation – help the prospects absorb ideas and move to a decision/plan of action over a long time (e.g. education series on negative-gearing)
  • Content Marketing – create content with outcome-orientated messaging focused on fundamental benefits (e.g. guide on reducing your tax)
  • Social Media Marketing – focus on key persona groups and communities (e.g. property investors or high-income earners like doctors)
  • PR – showcase fundamental improvements by leveraging customer stories (e.g. case studies)

Prospect Hosting (aka the Hostess)

It is the job of the hostess to make patrons feel like they are personally looked after. In your marketing strategy, sell to likely prospects early, while simultaneously building trust and brand using nurturing coordinated with sales.

Prospect guiding is an effective strategy as prospects are not being targeted by many competitors who can offer the same benefits, but have the highest need of education.

For example, not many companies are selling iPad sales presentation app and the concept is relatively complex for traditional sales teams.

Suggested marketing tactics for attracting prospects:

  • Content Marketing – create content with aspirational messaging focus (e.g. reduce reporting hassles). Distribute content through face-to-face mediums like events or through advocates, sales reps or partners
  • Marketing Automation –  focus on building brand value and rely on sales teams to drive behaviors (e.g. news series on latest iPad apps)
  • Social Media Marketing – target social influencers to expand the reach of your thought leadership content (target sales trainers)
  • PR – attend and participate in industry events/forums and build visibility with analysts and consultants who advice the target audience (e.g. IT events)
  • Direct Marketing – develop carefully-planned direct outreach programs tuned to decision-makers (inside sales staff inviting to events or pushing content)
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