Decoding the Secret Sauce: Our Approach to Marketing Strategy at Lagom Many are curious about the unique blend of methods we employ at Lagom when formulating a marketing strategy. Our approach typically begins with a 2-hour session where we establish the context with our client – we discuss the product, their goals, past experiences, and so forth. Then, we plunge into research, gathering the necessary information about potential decision-making points. Once our research phase is concluded, we can truly begin to outline the marketing strategy. This article aims to shed light on the pivotal questions we ask before we embark on our research journey.
Foundational Research: Crafting a Solid Marketing Strategy
At Lagom, we never dive into a marketing strategy without conducting exhaustive research. Comprehensive and well-thought-out research paves the way for a marketing strategy that is not only aligned with our clients’ objectives but also actionable and capable of delivering measurable outcomes.
Understanding the Market: Key to Our Marketing Strategy
Market research is a multifaceted beast, entailing various forms and leveraging a myriad of tools. The exact toolset we employ (which may include software like Semrush, Sparktoro, Statista, GWI) is dictated by the project at hand – the product’s or service’s profile, the behavior of the target audience, and the relationship between this behavior and the product.
Different considerations are pertinent when revamping the digital presence of a well-established company versus planning a startup’s marketing strategy. Similarly, an application with a subscription model demands a different approach from a product that exists in the physical space but is marketed online.
Regardless, the crux of market research always involves delving into all relevant market segments using quantitative and qualitative data. This exploration is vital for developing a marketing strategy that addresses the given problem.
Primary vs. Secondary Market Information: A Dichotomy
As hinted at earlier, digital marketing often utilizes secondary market information – data that does not come directly from questionnaire or interview research. But why is this the case, and what does it entail?
Secondary Information: A Reliable Indicator in Market Research
The answer is straightforward: people’s actions often diverge from their words. The complex dynamics between self-image, lived experience, self-representation, and self-analysis can sometimes result in misleading answers. Digital marketing, rooted in measurable customer behavior, often finds secondary data collection through software or forum opinion exchanges a simpler and adequate solution.
Of course, there are exceptions where the target group’s self-representation and lived self-image are paramount. However, we must remember that questionnaire responses may not always align with real-life choices.
Audits: A Crucial Component of Our Research Process
Audits form a specific aspect of our research process, with the data supplied directly by the client. We review all available past activities of the company, interpreting and analyzing them under strict confidentiality to derive crucial insights for the marketing strategy.
Laying the Groundwork: Pre-Strategy Development
Before we commence with the strategy development, we summarize our research material, typically comprising 80-120 slides, in a 90-120 minute presentation. This exercise often helps identify key decision points that could impact the strategy. It’s essential to clarify these points, make clear decisions, and then launch into the strategy planning from a well-founded common ground.
