Marketing professionals face many challenges: New competitors, evolving ways of working, and emerging technologies are just a few. To achieve business success, you must prepare to meet those changes.
For that, you'll need a robust marketing strategy framework. Here, we'll explore five marketing frameworks to help you choose the best option for you.
What Is a Marketing Strategy Framework?
A marketing framework brings a structured approach that helps you to understand your business and its place in the market.
In the same way that a TOGAF framework helps IT teams to manage critical infrastructure, a marketing framework outlines how you'll achieve your marketing goals.
Think of a journey. You might know your destination, but without a map you won't know how to get there. A framework helps you craft marketing plans and reach your goals.
However, there are many types of marketing strategy frameworks.
Five Marketing Strategy Frameworks for Success
Unsure which marketing strategy framework to choose? Let's explore some of the best options.
1. Porter's Five Forces Framework
Named after its creator, Porter's Five Forces framework helps organizations understand the impact of external forces. It considers the strength of your position in the industry.
The framework lists five key components:
- Power of suppliers. Assess your position as a supplier of products or services. How many others have similar offers? Why would businesses choose you over your competitors?
- Buyer power. Consider the influence of customers. What is their bargaining power? How much control do customers have over your organization's choices?
- Threat of substitutes. Are there threats from alternatives that can supplant your product? The focus here is on questions such as "Is my service sufficiently unique?" and "Do customers consider my pricing to be reasonable?"
- Competitive rivalry. Your marketing efforts aren't everything; external factors are important, too. What are the market trends within your industry? Who are the rising stars?
- Threat of new entry. Can a new brand enter your market easily with low entry costs? That might mean a lot of competitors. A high cost of entry, such as a complex enterprise architecture and strategy, suggests a lower risk.
2. 7Ps Marketing Mix
The 7Ps framework contains everything you need to get a new product or service to market. It outlines a path for boosting marketing.
- Product. What are you offering? What makes it attractive? List features and the pain points that they relieve. Make sure you know why your offer stands out.
- Price. How much will you charge? How much do competitors charge for similar items? You'll need to justify your pricing, so it's important to match price against your target market.
- Place. Where should you sell your offering? The answer will depend on whether you're selling a digital product, a physical product, or a service, as well as your audience demographics.
- Promotion. How will potential customers hear about your product? Business customers and consumers have varied needs. You'll need to communicate and promote through different marketing channels.
- People. Who do you rely on to help you meet customer expectations? This aspect encompasses many different areas of your business, from your suppliers to customer support.
- Process. How is your service delivered? How do your products get into the hands of customers? The way a product lands with customers makes a big impression.
- Physical evidence. B2B sales can be tricky, so reassuring potential customers you're the right choice is a must. Physical proof, such as customer reviews, awards, or certifications, demonstrates legitimacy.
3. AIDA
Dating back to the 1890s, this framework considers the different stages of the purchasing process, focusing on customer insights and personalized experiences.
- Attention. This is when (and how) your offer catches the eye of the customer. Consider how you can optimize your demand generation campaign with attractive marketing messages.
- Interested. A potential customer is now interested in your products and services. To reach this stage, your brand needs to stay in the minds of customers, so show them how you can help them meet their business goals.
- Desire. The customer is now interested in buying. Now convince them that you can meet their needs better than the competition: show what makes your offer unique. Here, again, a focus on tailored messaging and relieving individual pain points will help.
- Action. At this point, a business buys your product or signs up for your service. Depending on your product, it's vital to focus on optimizing conversion rates (CRO) by improving sales pages, calls, and contracts so that users are more likely to complete a desired action.
4. They Ask, You Answer
This is a digital marketing framework designed specifically for content marketing. It's all about answering your customer's key questions. The framework helps to improve transparency and helps businesses gain customer loyalty.
The model focuses on five areas of customer concern:
- Price. Why are your products listed at their current price? Customers want to feel assured they've got a good deal. Be open about the cost of all the items and services you sell, and explain any increases or decreases in price.
- Negatives. Who isn't your product or service for? What you offer won't benefit everyone, so make sure customers know when an item isn't well suited for them (and whether you offer something that is).
- Comparisons. Do competitors offer something similar? Be clear about your offer compared with those of others so customers can make informed decisions.
- Reviews. What are people saying about you? Do you help business customers meet their goals? Make service and product reviews easy to access—even if a few are negative. Ask for testimonials from your most loyal customers, and highlight case studies on your site.
- "Best of." What are the best products and services in your field? Some businesses create listicles to help buyers decide (with their product or service at the top of the list).
5. AARRR
This framework may sound like the shouts of a pirate, but it's actually a great way of tracking customer journeys through key stages. It runs from the first encounter with your brand through to spreading the word.
- Acquisition. Where are you gaining target customers from? Once you know, you can double your efforts in those areas, gaining ever more customers and growing your brand.
- Activation. Encourage actions beyond just a purchase. Customers might sign up for a mailing list, download a whitepaper, or create an account; whatever it is, make sure the process is smooth and intuitive.
- Retention. It can be easier (and more valuable) to keep an existing customer than to attract a new one. So track key metrics, such as repeat visits and orders, analyze subscription renewals, and act to boost customer engagement.
- Referrals. Customer recommendations are vital for attracting new customers. Encourage reviews, social media likes, and sharing of customer experiences. Referrals are one of the lowest-cost and most effective ways of increasing market share.
- Revenue. Which customer groups drive the highest revenue? Are you maximizing those, and is there a plan to boost revenue in other areas?
Choose Your Framework
We've explored five marketing strategy frameworks, each providing a different approach. Only you can decide which are the best options for your marketing team.
One thing for certain is that a marketing framework can provide a clear structure for your marketing campaigns. With a clear path ahead you'll appeal more strongly to your target segments, achieve your business growth strategy, and boost your revenue.
More Resources on Marketing Frameworks
SPICED: A Uniform Framework Across the Entire Customer Journey (Article 3 of 3)
Three Tips for Navigating the New 'Demand Waterfall' Marketing Funnel
What Revenue Should You Bet On?
A Messaging Framework: What It Is, Why You Need It, and How to Build It
