Marketing Strategy Template

Whether a big company or a startup, formulating a marketing strategy is crucial in the company's success.
USE THIS TEMPLATE
Marketing Strategy Template

About the Marketing Strategy Template

What is a marketing strategy?

A marketing strategy comprises a company's marketing objectives and goals combined into a sole comprehensive plan designed to promote a product and make a profit. An excellent marketing strategy helps businesses identify their target customers and understand their needs. A good strategy also allows companies to implement the most effective marketing approaches.
A marketing strategy is a blueprint with longer life spans containing value propositions and other significant elements f the company's brand, which typically hold constant over a long period. In the simplest terms, a marketing strategy involves big-picture messaging. One of the essential parts of a marketing strategy is to define how a company wants to position its products or services in the market to achieve a good positioning among its target market and fulfill organization and customer loyalty.
While preparing for the onboarding process, your onboarding checklist template should have the essential things to do laid out. This tactic dramatically helps you when welcoming a new employee. Aside from that, this also provides you with an overview of what essential onboarding steps you forgot to add to your onboarding checklist template.
Your onboarding checklist template should include all of the critical things from recruitment to helping the new employee adapt to their new team. Examples of that are the new employee orientation, job training, introduction to the company's culture, and goal-setting. Meeting the other employees should also be included in your checklist. The things mentioned will guide the new hire to adjust quickly and become a productive member of your team.
The length of your onboarding checklist template will depend on the new hire's role and the company's hiring process. Just make sure that it covers everything the new hire should know about their role and the company.

Why do you need a marketing strategy?

A marketing strategy is necessary to help companies direct their advertising funding to have the most significant impact. A study in 2019 revealed that companies with a detailed and documented marketing strategy were 313% more likely to have success in all of their marketing success.
The primary goal of having a marketing strategy is to communicate and achieve a sustainable competitive edge over the company's competition by comprehending its consumers' needs and wants. It can be a social media campaign, mass customization, print ad design, or a marketing approach based on how efficiently it communicates a business's core value proposition.
Using an onboarding checklist also has its advantages. Not just to you and your company, but also to the new employee. The most obvious one is that the onboarding checklist helps streamline the onboarding process. This efficient process will have a positive impact on the new employee. Also, research shows that most employees who went through an efficient onboarding process feel a high level of connection towards the company.
Firms utilize marketing strategies because of the following points:
  • It puts an organization at an advantage over its competitors.
  • Marketing strategies help develop services and goods with excellent profit-making potential.
  • It helps identify the areas affected by the organization and eventually helps create an organizational strategy to cater to the target customers' needs.
  • It ensures effective and efficient departmental coordination.
  • It guides in fixing the correct prices for the company's goods and services based on the information gathered through market research.
  • It allows firms to optimize all their resources to effectively provide a sales message to their target audience.
  • A marketing strategy also helps fix the advertising funding in advance while developing a method that identifies the entire plan's scope.

Marketing Strategies versus Marketing Plans

Marketing plans and marketing strategies are significant parts of a firm's success. A marketing strategy is composed of identified needs of the company to achieve its goals. It serves as the foundation for the firm's needs to effectively connect with the target market and meet objectives. Firms generally include these items to develop a marketing strategy:
  • Goals
  • Competitors
  • Target audience
  • Messaging
  • Distinct value proposition
Marketing professionals often interchange these two terms, but one must remember that marketing strategy and marketing plan differ. A marketing plan outlines how an organization can accomplish all that's been identified in the marketing strategy. It comprises the steps an organization must take to realize marketing goals and support established techniques. Here are points that organizations include in a marketing plan:
  • Executive summary
  • Target market
  • Key performance Indicators(KPIs)
  • Situation analysis
  • The 4Ps(Product, Price, Place, Promotion)

Examples of Brands That Succeed in Marketing Strategy

A successful business includes a well-designed marketing strategy. If you are looking for a marketing strategy template, it is ideal to take inspiration from successful brands. Some companies continue to show excellent marketing approache through the years.

Nike

"Just do it" always comes to mind immediately when talking about the shoe brand Nike. The way the brand distinguishes itself from other shoe brands highly depends on its marketing strategy. Since its launch, its marketing has focused on promoting brand values like overcoming adversity and innovation. To effectively convey this culture to its target audience, the brand turned to storytelling ads that tell inspiring and motivational stories that seek emotions in users.
Here is how Nike designs its marketing strategy to achieve and maintain its status in the industry:
  • Nike positions its products carefully. The co-founder of Nike, Bill Bowerman, once said that "a shoe must be three things, it must be light, comfortable, and it's got to go the distance." From here, they identified Nike's target market, which includes sportspeople, professional athletes, or people into active and healthy lifestyles.
  • Nike sells through touching stories. The brand's founders were former athletes; hence, they could tell authentic stories. They have created that sense of belonging for all its customers and encouraged ordinary people to strive for their health or sports goals.
  • Nike maximizes the power of social media marketing. Nike's few techniques in their social media marketing include collaboration with sports personalities and other high-profile individuals and relay storytelling across social media platforms.
  • Besides ensuring hassle-free and exciting online shopping, Nike designs its website with models and products depicting the vibrant lifestyle and look of an "athlete."

Spotify

With the continuous evolution of technology, Spotify also keeps its marketing strategy evolving instead of static. The music platform never fails to post about different artists and updates on new albums. Spotify designs its marketing strategy by utilizing the best possible channels to reach its target audience easily. Here's what their marketing strategy looks like:
  • Spotify's social media marketing involves creating various social media handles on several geographical locations. The music platform conducts multiple social media trends and hashtag campaigns to create a buzz and awareness for the brand.
  • Spotify uses meme marketing to build relationships with the Millenials and Gen-Z. This is a popular approach used by marketers to make their target audience laugh and sell their brand simultaneously.
  • In 2016, Spotify used a data-driven campaign entitled "Thanks 2016, It's been weird" and used data and playlists to create some quirks that made its audience laugh. It was a successful campaign where the brand gained much popularity.
  • In 2021, Spotify had about 180 million premium subscribers, all thanks to its affordable premium pricing, where users can stream music with no ads and download songs.
  • Spotify also provides a personalized experience to users. Once they install the application and use it for the first time, users can opt for music preferences and artists they like.
  • Spotify chooses brand ambassadors capable of connecting to Millenials and Gen-Z, its target audience.
  • Event marketing is also part of Spotify's marketing strategy. The brand has exclusive rights to League of Legends with about five million monthly listeners, where they can add podcasts, music, and playlists all inspired by the online gaming community.
  • Spotify offers a user-friendly interface, promoting clean, easy navigation and minimalistic design. It uses an energetic and vibrant color scheme fitting for the Millenials.
Spotify Marketing Strategy Template

Airbnb

For Airbnb to compete against hotels, resorts, and other accommodations at an international scale, its founders came up with an idea to provide a unique experience of learning to live like the locals, even if you are away from home. A property holder can list their unit or home on the company's platform, creating a vast database of unique home rentals.
The company's marketing strategy revolves around the following points:
  • Airbnb aims for guests to enrich travel by offering various accommodations with distinct characters. Instead of living in hotel rooms, guests can enjoy a space with character and personality.
  • Besides enticing travelers and guests with unique space accommodations, Airbnb also caters to hosts looking to monetize their properties for a larger audience. To entice more hosts, they need to remarket to guests. Those guests who previously enjoyed their stay may receive an email from Airbnb encouraging them to list their units or property.
  • Airbnb builds its mobile application around practical design guidelines. Besides making the app available to Android and iOS platforms, the company created charming icons making it easier to translate concepts to various languages without heavily redesigning the interface for every region.
Spotify Marketing Strategy Template

Domino's

How can a pizza store thrive in a very competitive food industry? Those who succeed in the industry must have a well-designed marketing strategy to stand out from their competition.
Domino's is one of the leading pizza houses in the United States. Several familiar points in the company's marketing strategy helped them with their status today. These includes:
  • Advertisements. Domino's come with such appealing ads that just by looking at them can make pizza lovers crave for a slice. The company runs its online and offline ads, ensuring to target customers belonging to the 18-44 age group.
  • Like other brands inviting famous personalities to endorse a brand, Domino's collaborated with influencers to make their target audience crave Domino's pizza. Influencer marketing is one of the more known and effective strategies today.
  • Domino's also maximizes partnerships to make its brand stronger. During the lockdown in 2020, the pizza chain partnered with ITC Ltd to sell important items like wheat flour, spices, and pulses.
  • Event marketing is another strategy used by Domino's which increases the company's presence. The pizza chain collaborates with the finest events by reaching out to a larger audience through sponsorships.