People Innovation Excellence

THE STRATEGIC MANAGEMENT PROCESS (STEP 2 – TOOLS – PART 1)

After you’ve finalized your strategy steps that end with pricing strategy, the next step you should do is to ensure that the tools you use can support your strategy. Tools is the collateral, assets, software and processes that you use during the tactical execution of your strategies. In this step, you can review your tools which consists of Naming, Messaging, Corporate Identity, Website, Sales Tools & Literature, Copy Writing & Graphic Design, Vendor Selection, Recruiting, Customer Relationship Management, Customer Lifetime Value, and Return of Investment that aligns with strategy. It will be explaining in two parts. This part consists of the 5th one of all aspects that already mentioned. Here is the explanation:

  1. Naming

The name is a critical extension of brand. When you’re developing a name, there are several options; use the founder of investor’s name (Hewlett-Packard), describe what you do (Southwest Airlines), describe an experience or image (Sprint), take a word out of context (Apple), and make up a word (Google). Your company name is an anchor for brand strategy, typically the first thing that the market sees and hears. Before seasoned marketers create their positioning, brand, distribution and pricing strategies, they select a product name, to ensure that all are aligned at launch.  The following is the steps:

  • Decide to hire a consultant to help
  • Develop a strategy
  • Generate plenty of potential name
  • Evaluate the list against the criteria
  • Protect the name
  1. Messaging

“Message” are written and verbal statements that quickly describe what you do and how you’re different. Consistent messaging is essential to communicating the ideas and concepts of your competitive positioning and brand strategy to the market. It allows you to effectively communicate the value your offering provides. The following is the steps:

  • Define your writing style and requirements
  • Create an elevator pitch
  • Create your positioning statements
  • Create tagline/slogan
  • Create your mission statement
  • Determine where to use the messages
  1. Corporate Identity

Corporate identity is an extension of your brand such as business cards, envelopes, letterheads, mailing labels, email template & signatures, proposal templates, invoices, memos, and fax covers. Corporate identity represents company brand. It should visual brand requirements of the brand strategy, and be consistent throughout all print and digital materials. This following is the steps:

  • Evaluate your current identity usage
  • Create professional, consistent templates for every touch
  • Keep inventory
  1. Websites

Website is the potentially the most powerful sales and marketing tool in arsenal. A good site can help you to reinforce your brand, generate leads, and support customer. Before your building (redesigning) a website, you must review your competitive positioning and brand strategy first to make sure your website supports them. This following is the steps of building websites:

  • Develop project team and timeline
  • Define needs
  • Develop the content
  • Organize the content
  • Identify the functionality will need
  • Develop you design requirements
  • Identify any last requirements
  • Qualify and hire vendors
  1. Sales Tools & Literature

Sales tools & literature help to communicate and strengthen the messages that also known as “marketing communications” or “collateral” and may include; brochure, website, newsletter, calculators, PowerPoint presentations, etc. They’re used to drill down into more specific areas of what’s offering. This following is the steps:

  • Analyze the current materials
  • Determine what materials needed
  • Write, design & print your materials
  • Train the team to use the materials

SOURCE:

Moderandi Inc., 2013. The Strategic Marketing Process. 2nd ed. s.l.:Marketing MO.


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