Market Strategy Analysis with the Pyramid of Promotion
Analyzing your market strategy is an important part of a successful marketing campaign.
The Pyramids of Promotion (below) are useful visuals that help in the analysis process. We've broken the social aspects and the direct marketing aspects of the web into two different visuals because direct marketing tactics are inappropriate for social media. However the same keyword DNA braid is used to engage your customer in both realms, creating consistency in your branding and conversations.
Both graphics display avenues with faster results at the top, and progress downward toward the slower response, brand and reputation building techniques, at the bottom.
Determining how quickly you need results and what long term strategies you want to implement are an important first step. Further, you will need to anticipate the response from each type of marketing media you choose to implement, and balance that against your LTV and your budget to determine how much you are going to spend on each type of marketing.
It is important to determine which social avenues your potential customers are engaging in, and meet them there. Most businesses do not understand where people go to inquire about social proof for their products, so they have no idea how to incorporate social media into their marketing plan, what kind of conversations occur there, nor how to reach that aspect of the buying process. DWS plays an important role in helping you to find these conversations and integrate a social strategy into your overall marketing plan.
Remember to implement each strategy with appropriate codes so that your web logs will allow you to analyze the results and ensure that your ROI falls within the planned budget. Initial shortfalls, especially when only minor, should generally be met with tweaking the advertising rather than pulling the media altogether.
Here is an audio where Russ and Sue share their thoughts about how to utilize these two Pyramids: