Strategy — English – LAGOM Stratégia https://lagomstrategia.hu Lagom marketing stratégia bemutatása Wed, 18 Oct 2023 21:29:15 +0000 hu hourly 1 https://wordpress.org/?v=6.7.2 https://lagomstrategia.hu/wp-content/uploads/2022/06/cropped-Untitled-design-3-32x32.png Strategy — English – LAGOM Stratégia https://lagomstrategia.hu 32 32 MEMORABLE BOYCOTTS: WHEN CONSUMER DEMAND SHAPES THE BRAND https://lagomstrategia.hu/2023/07/13/boycott-and-communication/ Thu, 13 Jul 2023 08:58:59 +0000 https://lagomstrategia.hu/?p=1097 In an era where consumers are becoming increasingly vocal about their values, they expect brands to mirror their convictions. This societal shift, often referred to as the global „culture war,” is particularly pronounced in the United States. Here, we’ve seen numerous instances where consumers’ cultural or political beliefs have sparked boycotts, leading to significant changes in corporate communication and business operations.

These boycotts serve as a stark reminder that consumers, when united in large numbers, wield significant power in shaping brands. In this article, we delve into several high-profile consumer boycotts, each fueled by political or cultural events, and explore the lessons they offer for marketing strategy and brand management.

Nike and Colin Kaepernick: Taking a Stand for Social Justice

In 2018, Nike, the global sportswear leader, made a bold statement by featuring former NFL player Colin Kaepernick in an advertising campaign. Kaepernick had become a symbol of resistance against racial injustices, particularly for his peaceful protest of kneeling during the national anthem at NFL games.

Nike’s decision to feature Kaepernick was met with a polarized response. Some people, viewing Kaepernick’s protest as disrespectful, expressed strong resentment towards Nike’s decision. They voiced their outrage on social media, with some even posting videos of themselves burning Nike products and vowing to boycott the brand.

However, many of Nike’s core customers, who hold socially and culturally liberal values, applauded Nike’s decision. They praised the brand for using its platform to highlight an important social issue and for standing with Kaepernick despite potential risks to its reputation.

Consequences

The Kaepernick campaign marked a significant moment in Nike’s history and in the broader landscape of corporate social responsibility. It showed that a brand could take a stand on a contentious social issue and, despite facing backlash, could emerge with its reputation not only intact but arguably strengthened among its core demographic. It underscored the power of aligning a brand with its customers’ values and using its platform to amplify important social issues. And it served as a reminder that in today’s highly politicized climate, staying on the sidelines is often not an option.

Chick-fil-A and LGBTQ+ Rights

Chick-fil-A, a well-known fast-food chain in the U.S., faced political backlash and a consumer boycott due to its stance on LGBTQ+ rights. The controversy stemmed from the company’s donations to organizations that were seen as hostile towards the LGBTQ+ community. This sparked widespread criticism and calls for boycotts.

In response, supporters of Chick-fil-A’s stance initiated a counter-boycott, which surprisingly boosted the company’s sales by about 12%, raising them to approximately $4.6 billion in the following quarter.

However, the brand’s reputation suffered a significant blow. LGBTQ+ activists launched campaigns to ban Chick-fil-A from university campuses and airports, posing a substantial risk to the company’s business performance. This led Chick-fil-A to reevaluate their donation practices and political stance.

Consequences

Eventually, Chick-fil-A issued a statement, deciding to leave the issue of same-sex marriage to the government and politicians, and refraining from taking a position. This case serves as a reminder of the potential risks and complexities when a business becomes entangled in politically charged issues.

Airbnb and Discrimination: Navigating the Two-Sided Market

In 2016, Airbnb, the popular home-sharing platform, found itself in the midst of a storm of criticism and boycotts due to instances of racial discrimination reported by its users. The platform, which had revolutionized the hospitality industry by allowing individuals to rent out their homes or rooms to travelers, was suddenly under fire. The issue of racial discrimination, a long-standing societal problem, had infiltrated the digital space and was now threatening to tarnish Airbnb’s reputation.

The controversy began when users seeking accommodation on the platform started sharing their experiences of discrimination. These stories, often shared on social media or public forums, painted a disturbing picture. Prospective guests, usually based on their skin color or ethnic background, were being denied bookings by hosts. Some hosts were reported to have cancelled bookings after seeing the profile pictures of the guests, while others were accused of consistently ignoring requests from users of certain racial or ethnic backgrounds.

Consequences

In response to the criticism and boycotts, Airbnb acted swiftly to address the issue. The company introduced a series of measures aimed at combating discrimination and promoting diversity and inclusion on its platform. This included implementing mandatory anti-discrimination agreements for all users. Under these agreements, users were required to commit to treating everyone, regardless of race, religion, national origin, or ethnicity, without bias.

In addition, Airbnb introduced a new „community commitment” protocol. As part of this protocol, all users were asked to agree to a policy of respect and inclusion, with the aim of fostering a sense of community among users from diverse backgrounds. The company also increased its efforts to diversify its own workforce and leadership, recognizing that change needed to start from within.

Despite these measures, Airbnb continues to grapple with the issue of discrimination on its platform.

Uber and #DeleteUber: The Importance of Ethics and Corporate Culture

In 2017, Uber, the global ride-sharing behemoth, found itself in the crosshairs of a significant boycott. The controversy was sparked when Uber appeared to undermine a taxi strike in New York City. The strike was organized by the New York Taxi Workers Alliance in protest against the U.S. immigration ban, a policy that was seen as discriminatory and unjust by many. The taxi drivers, in a show of solidarity with those affected by the ban, had decided to halt services to JFK Airport, one of the city’s major international travel hubs.

Uber, however, chose to continue its services, a move that was perceived as not just breaking the strike, but profiting from it. To make matters worse, Uber turned off surge pricing during the strike, a decision that was seen as an attempt to incentivize customers to use their service over taxis. This was interpreted by many as a blatant disregard for the political and human rights issues at stake, painting Uber as indifferent and irresponsible.

The public response was swift and severe. The hashtag #DeleteUber began trending on social media, as users expressed their dissatisfaction and disappointment with the company’s actions. Screenshots of users deleting the Uber app from their smartphones were shared widely, turning individual acts of protest into a collective movement. The boycott wasn’t confined to the United States; it quickly spread globally, reflecting the international reach of both the company and the issue at hand.

Consequences 

In the aftermath, Uber took steps to improve its reputation and regain public trust. This included making donations to immigration rights organizations, establishing a $3 million legal defense fund for drivers affected by the immigration ban, and the CEO stepping down from the President’s economic advisory council. The incident underscored the fact that in the age of social media, companies are under intense scrutiny and that ethical considerations and a strong corporate culture are essential for maintaining public trust.

Facebook and Data Protection: Balancing Trust and User Engagement

In 2018, the digital world was rocked by a controversial data protection scandal involving Cambridge Analytica, a political consulting firm that had unauthorized access to the data of millions of Facebook users. The scandal unfolded after a whistleblower revealed that Cambridge Analytica had harvested the personal data of millions of people’s Facebook profiles without their consent and used it for political advertising purposes. This was one of the most significant breaches of personal data in the history of social media, and it raised serious questions about Facebook’s data protection policies and practices.

The revelation sparked significant outrage among Facebook users and the wider public. Users felt betrayed and violated, as their personal data had been used without their knowledge or consent. This was not just a breach of trust, but also a potential violation of data protection laws. In response, many users expressed their anger and disappointment through various social media platforms. The hashtag #DeleteFacebook began trending, with users encouraging each other to delete their Facebook accounts as a form of protest and boycott.

Consequence

In response to the scandal and the ensuing backlash, Facebook was forced to reevaluate and put more emphasis on its data usage practices. The company implemented several changes aimed at improving data protection and giving users more control over their data. This included making its privacy settings more user-friendly, restricting data access for third-party apps, and launching a tool that allows users to see which apps have access to their data and revoke it if desired.

However, despite these changes, Facebook continues to face criticism and accusations over its data practices. Critics argue that the company still doesn’t do enough to protect users’ data and respect their privacy rights. They point out that while Facebook has made some improvements, it has not fundamentally changed its business model, which relies heavily on collecting and monetizing user data. The company has also been accused of being slow to respond to privacy concerns and not being transparent about how it uses and shares user data.

Conclusion

The rise of digitalization and consumer power has reshaped the brand-consumer relationship, with corporate responsibility becoming a focal point. Companies need to prepare for consumers increasingly expecting brands to take responsibility in cultural and environmental issues alike.

Consumer boycotts can act as catalysts for change. However, the key takeaway from these cases is that there is no one-size-fits-all approach: each brand must develop its communication strategy based on its own values and the current societal context.

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The Changing Landscape: How ESG and CSRD Will Shape Marketing Communication in the Near Future https://lagomstrategia.hu/2023/07/06/esg-csrd-marketing-communication/ Thu, 06 Jul 2023 08:06:59 +0000 https://lagomstrategia.hu/?p=1087 In the dynamic world of business, marketing strategies and marketing communication must constantly evolve to remain relevant. With the increasing prominence of environmental, social, and governance (ESG) principles, coupled with the rise of Corporate Sustainability Reporting Directive (CSRD), companies are recognizing the significant impact these factors can have on their marketing strategies. In the near future, integrating ESG and CSRD principles will be crucial not only for business success but also for driving positive change.

This article explores the influence of ESG and CSRD on marketing strategy ,especially marketing communication, and provides some examples that illustrate their importance in today’s ever-changing marketplace.

Authenticity and Purpose-Driven Marketing Through Marketing Communication

ESG and CSRD provide businesses with a unique opportunity to showcase their commitment to sustainability, social responsibility, and ethical practices. Today’s consumers demand authenticity and purpose-driven brands.

A prime example is Patagonia, an outdoor apparel company that embodies this approach. Their marketing campaigns focus on environmental activism, urging consumers to reduce consumption and repair products rather than replace them.

By aligning their marketing efforts with their ESG values, Patagonia has cultivated a fiercely loyal customer base united by shared beliefs and a common purpose.

Targeting the Conscious Consumer

The emergence of ESG and CSRD has given rise to the conscious consumer, a market segment that prioritizes sustainability, social responsibility, and ethical business practices. TOMS, a footwear company, exemplifies this shift.

For every pair of shoes sold, TOMS donates a pair to someone in need. This initiative resonates with consumers who seek to make a positive impact through their purchasing decisions. By effectively communicating their mission and social impact, TOMS has successfully captured the attention and loyalty of conscious consumers.

Storytelling and Transparency

ESG and CSRD encourage businesses to be transparent about their operations, supply chains, and environmental impact. Effective marketing strategies in the near future will rely on authentic storytelling to convey this transparency.

Tesla has mastered this approach. Through compelling narratives, Tesla showcases the environmental benefits of electric cars, highlighting their efforts to combat climate change. By sharing stories of innovation and sustainability, Tesla has forged a strong emotional connection with consumers, contributing to their dominant position in the electric vehicle industry.

Collaborations and Partnerships

ESG and CSRD emphasize collective efforts in addressing societal and environmental challenges. Marketing strategies in the near future will involve collaborations with like-minded organizations to amplify impact.

An excellent example is the partnership between Adidas and Parley for the Oceans. Together, they have created a line of running shoes made from recycled ocean plastic. By combining their expertise and resources, Adidas and Parley not only raise awareness about plastic pollution but also provide consumers with a tangible way to contribute to the cause. This partnership showcases the power of collective action and resonates with environmentally conscious consumers.

ESG and CSRD are transforming the business landscape, reshaping marketing strategies to align with sustainability, social responsibility, and ethical practices. The future of marketing lies in embracing authenticity, purpose-driven approaches, and transparency. Brands such as Patagonia, TOMS, Tesla, and Adidas have successfully integrated ESG and CSRD principles into their marketing strategies, capturing the attention and loyalty of conscious consumers.

As businesses adopt these values, they not only drive growth and profitability but also contribute to a more sustainable and equitable future. In the near future, marketing will go beyond mere product promotion, becoming a powerful force for positive change and creating a better world for all.

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Marketing Strategy: Piecing It Together After Doing Our Research https://lagomstrategia.hu/2023/02/05/marketing-strategy/ Sun, 05 Feb 2023 08:36:35 +0000 https://lagomstrategia.hu/?p=1001 Everyone’s a Marketing Guru In the ever-evolving field of marketing, there’s always a new voice claiming to have all the answers. „You need a marketing strategy!” they announce, as though the phrase is a magic incantation to summon business success. The reality, though, is that „strategy” can mean something different depending on who you ask. It’s like the old story of the blind men and the elephant – each one touching a different part and describing the whole animal based on that limited perspective.

Why Research is Key In a previous piece, we dug into why a marketing strategy should be like a sturdy oak, its roots firmly planted in the fertile soil of in-depth research. Now, let’s explore further. Let’s navigate the winding paths that a research-based strategy can help you tread and unearth the mysteries it can help solve.

Deciding When You Need a Marketing Strategy „So, when do you pull the trigger and decide you need a marketing strategy?” That’s a question we often hear, but let’s flip it around for a change. When DON’T you need a marketing strategy?

Well, if you’re running a business that already has a solid marketing strategy in place, one that’s functioning like a well-oiled machine and delivering the goods, then it’s safe to say you’re in a good place. If your marketing operation is clear and effective, masterfully balancing the need for quick wins and the pursuit of long-term objectives, then you’re ahead of the curve.

The Importance of Regular Reviews and Team Understanding If you’ve adopted the practice of reviewing and fine-tuning your Key Performance Indicators (KPIs) every six months or so, you’re doing something right. And if every member of your marketing team knows how their contributions fit into the bigger picture – the way each instrument contributes to the harmony in an orchestra – then you’ve hit a sweet spot.

However, if you’re reading this and thinking, „Well, that sounds great, but it doesn’t quite resemble my current situation,” then chances are you could benefit from a marketing strategy.

The Anatomy of a Solid Marketing Strategy Now, let’s delve into the anatomy of a solid marketing strategy. Picture a skilled tailor, meticulously taking measurements to craft a suit that fits one individual perfectly. This is the essence of a good marketing strategy. It’s custom-tailored for your business – unique, individual, designed to fit like a glove. That’s why we can’t just show you other companies’ strategies. They’re confidential, sure, but they’re also unique as a snowflake in a blizzard.

Blueprints for Success What we can do, though, is guide you through the process of creating your bespoke strategy. Crafting a marketing strategy is a bit like building a dream house. It starts with a blueprint – a strategic model. Over the years, we’ve assembled a toolkit of proven models. We use these to create a robust framework for your strategy, much like an architect uses blueprints to ensure the final structure is solid, functional, and aesthetically pleasing.

Kickoff Meeting and Research Phase The process of selecting the right blueprint commences during the initial stages of our collaboration – in the kickoff meeting and the research phase. This phase is similar to scouting the perfect plot of land for your dream house. We get to know your company, your challenges, your objectives. We take a deep dive into your world.

Building on a Strong Foundation Once we’ve chosen the appropriate blueprint or strategic model, we roll up our sleeves and start the construction phase. This model is like the skeleton of your strategy. It provides the structure, the limits, and the potential within which we’ll craft a unique, compelling marketing strategy.

The Magic of Unique Content Then comes the real magic – infusing this skeletal structure with life, with unique content that makes your strategy truly yours. This is like designing the interior of your house, picking the perfect wallpaper, the cozy furniture, the vibrant artworks that make it a home, not just a building.

The End Result The result of the marketing strategy is a better understanding of how goals could and should be reached, simpler decision-making, smooth execution, long-term guidelines, the establishment of specific KPIs and their corresponding measurement system, easy year-by-year planning, and easier communication between marketing professionals and company decision-makers. A solid marketing strategy is like a compass. It points you towards your goals, simplifies decision-making, smooths out execution, and sets the groundwork for long-term success. With it, communication within your team becomes more straightforward, and planning for the next steps becomes less daunting. It’s the gift that keeps on giving.

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Social media — where we are now. GWI’s research data. https://lagomstrategia.hu/2022/12/18/social-media-worldwide-data/ Sun, 18 Dec 2022 11:30:44 +0000 https://lagomstrategia.hu/?p=922 In many cases, the „latest holiday statistics” (at the end of the year) are not too surprising, especially if you read during the year about social media, content consumption habits, generational characteristics, time spent in front of screens – and similar – topics.

We have managed to cherry-picked quite a few data which, if not „unbelievable”, are nevertheless thought-provoking (in our opinion, thought-provoking is much better than unbelievable). Research data on social media use were published by GWI. Have fun browsing through them!

The richer the society is, the less its members hang out on social media? 

Even if the formula is not that simple, it is certainly telling that which countries’ residents spend the most and the least time, in general, on social media channels.

közösségi média eltöltött idő napi átlag

Based on the data of the 48 countries examined separately, the Japanese spend by far the least amount of time in front of the screen: only 50 minutes a day on average. In Europe, Switzerland (average 1 hour 28 minutes per day) and the Netherlands (average 1 hour 25 minutes per day) are spending the least time, but Japan is directly followed by another Asian country, namely South Korea (average 1 hour 13 minutes per day). At the other end of the scale is the Philippines, where Internet users spend an average of 4 hours and 8 minutes a day on a social media platform. The Philippines is followed by Nigeria and Colombia (3 hours 42 and 3 hours 41 minutes, respectively).

​​Let everyone draw their own conclusions based on the social characteristics, structure, well-being, and economy of the given country.

This is what we say why we use social media

The highest proportion of users indicate maintaining contact as the reason for visiting social media (48%-54%), the second most common reason is „filling free time” (28%-43%). The first reason was indicated by the baby boomer generation in the largest proportion, and the second reason was indicated by them in the smallest proportion. The older someone is, the less they use the platforms to follow and „check” celebrities and influencers. There is also an inverse logic between FoMO and age: it is most characteristic of generation Z that FoMO drives them to the platforms, and least of all for the 58+ age group.

közösségi média használat, motivációk

It seems that the more time someone spends on social media platforms and the more platforms they are present on, the easier it is to develop the illusion that they can miss out on anything if they are not present. It will be interesting to see in 5 years how these data develop as time progresses: it will always be the youngest age group, or other factors will come into play?

“AR” or not “AR”?

To put it somewhat vaguely, we can read in the publication that since 2020 the use of filters has declined „in various parts of the world”. In parallel with this, 1 out of 5 users does not want to see filtered images while using social media, neither from the influencers they follow, nor from the brands. On the contrary, when e.g. on the pages and advertisements of the cosmetics brand MAC, „augmented reality” (AR) enables online product trials, there is no problem with that, in fact, in these cases, AR has proven to be an effective conversion tool.

This social media trend will be very interesting to watch: will more and more people be bothered by „augmented reality”? Will more and more real-looking depictions of people gain ground instead of „airbrushed” faces? (We secretly hope so, since filtering — and fillers — threaten the mental health and healthy self-esteem of many people, especially women.)

So if they see „I woke up like this” distortions, less and less people like it, but if AR has a real function and is not used to cover up reality or deceive (e.g. the mentioned makeup brand), users have no problem with that.

Who is the most concerned about how much time they spend on social media platforms? 

Generation Z is most concerned about spending too much time on social media platforms. Almost all generations uniformly (21%-24%) state that they spend less time on social media platforms than before.

The latter data only comes out when taking into account the time spent on all platforms, if many people spend more time on social media platforms than before, since the time spent on social media platforms, based on the data, has not decreased since the Covid quarantine.

Online dating. And then, what? Stay online.

The following — somewhat shocking — data came from 9,000 surveyed online dating app users.

The proportion of daters who feel more connected online than in person, and who prefer to communicate online rather than face-to-face, seems to be on the rise.

Moreover, this was true not of a few percent, but of roughly every fifth respondent.

Social media and the „baby boomer” generation 

Members of the „baby boomer” generation (age group 58-76) are present on an average of 4.6 social media platforms.

Baby boomers are most represented on Facebook and Instagram, followed by Twitter, Pinterest, Linkedin, TikTok (roughly tied for third place), and Snapchat and Reddit are the least used platforms in this age group based on the data.

Everything has its place

TikTok and Reddit for entertainment, Instagram and Snapchat for your own posts, Pinterest for information about brands, LinkedIn and Twitter for gathering information about the wider world, and Messenger/Facebook for keeping in touch with family.

As you can see from the data, each platform has its own profile. Users visit different channels for different reasons, they are characterized by different behaviors, they are driven by different motivations, and they want to collect different stimuli.

Content crumbs, or let the feast begin?

Short video content is exciting, but Generation Z is also happy to consume long content.

Of course, if they find it worthwhile. It is also interesting data that 1 out of 4 respondents stated that they watch at least one marketing/brand video ad that is longer than a few seconds per month (it is always worth considering similar data that self-reports do not always fully cover reality — people usually do not keeps statistics on his own behavior, especially not on how many advertising videos he watched in the last 12 months on average per month).

News consumption and social media 

Twitter is a popular news filter among members of Gen Z, even if traditional social media channels (of course, the word „traditional” is used more and more often here) are usually associated with older age groups.

Generation Z is 36% more willing to customize what news they want to see than other age groups. It is also important to them who they hear from and through which filter: they prefer to get information from influencers instead of the mainstream media.

közösségi média és hírfogyasztás

Market of „superapps” 

Centralized solutions — these two words best describe social media in the Chinese market. The country’s residents use what are most often referred to as „super apps”, which combine a lot of functions, including purchases — and Chinese users really often use the option of in-app purchases. Western tech companies and apps are trying very hard to be able to serve (or rather retain) their users with similar complexity.

Based on the data, the main user camp of the WeChat super app is made up of the older age group (58+) and the population living in rural areas, not in big cities. WeChat is the most popular, followed by TikTok and Tencent QQ, Baidu Tieba.

Közösségi média adatok Kínában — WeChat

In the end, this is more than 10. We hope that you found it useful or interesting – well, maybe even hair-raising. If you are planning to enter a new market, it is always worth looking for similar data and statistics as inspiration, preferably in a regional breakdown, before jumping headfirst into deeper planning.

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Positioning: The Schrödinger’s Cat Phenomenon of Marketing https://lagomstrategia.hu/2022/12/18/positioning-in-marketing/ Sun, 18 Dec 2022 11:00:17 +0000 https://lagomstrategia.hu/?p=915 Positioning: The Marketing Puzzle Piece that Makes Your Product Stand Out

When it comes to the word ‘positioning,’ you’d be hard-pressed to find anyone who isn’t able to take a solid stab at defining it.  But what role does it play in a rock-solid marketing strategy? In this piece, we’ll take a closer look at the ins and outs of market positioning and provide some valuable pointers to keep in mind while seeking the sweet spot for your product in the marketplace.

Positioning: A Customer’s Perspective

The moment a product or service comes into existence and is up for grabs, it instantly holds a position in the marketplace. Think of it like the cat in Schrödinger’s famous thought experiment. It’s there in the box, but it’s the customer, playing the part of Schrödinger, who determines the state of the cat when they open the box. In other words, the perception of a product’s market position isn’t fixed. It can be diverse and multifaceted, shaped by the unique perspectives and interpretations of the customer.

In this context, the job of positioning is to guide the customer’s focus when they ‘open the box.’ What should catch their eye first? The sleek design? The fair price? The captivating message that resonates with them?

Groundwork for Positioning

Scrolling through any marketing blog or textbook will tell you that the bedrock for positioning a product or service comes down to three primary elements: the product’s unique features, the target audience, and the price-to-quality ratio. Sounds simple, right? But what most sources miss is that these three elements are interconnected. It’s not about picking a high-end customer segment for an average product or inflating your product’s price beyond its production cost. Nor can you suddenly declare yourself the ‘creative studio’ without aligning your position accordingly.

First Steps Towards Effective Positioning

So, where does one start? A sound positioning strategy requires:

a) A deep understanding of the market, ideally backed by ample quantitative and qualitative data b) An objective assessment of the product’s place in the market c) Insights into the target group, their preferences, and what they feel is missing in the market

The Positioning Process: Where Does It Begin?

The starting point for the process isn’t always the same. Sometimes, the product is just an idea, and the positioning precedes the product’s actual creation. Market trends and existing information can guide the product’s development to fill a specific market gap. You see this often in the tech sector, with startups tailoring their products to meet a particular need or solve a specific problem.

On the flip side, you might have a product that’s ready to hit the market or has been out there for years, but hasn’t been consciously positioned. This is where understanding the product’s specifics and identifying the right audience becomes crucial. The next step is to craft the appropriate messages that resonate with them.

Regardless of where you start, the key is to build on your capabilities, and like a snowball gathering momentum, keep moving forward until you find the perfect market position accompanied by the right communication principles.

Your Position is Where You Show Up

Where your product appears also plays a significant role in its positioning. Platforms like Instagram, Facebook, Pinterest, TikTok, LinkedIn, print magazines, and online media outlets not only demand different formats but also shape different perceptions of your product or service. Hence, the choice of platform is an integral part of your positioning and communication strategy.

Repositioning: When Change is the Only Constant

There might be instances where a brand that has been in the market for a long time is well-known, but its market position isn’t as effective as it once was. Perhaps the company has shifted its direction, or the market and target audience’s structure has changed entirely. These situations call for a strategic repositioning, often involving re-branding, crafting new communication messages, and identifying the target group as precisely as possible.

So, what’s the secret to finding the best position in the current market? The answer is simple: research. Like everything in life, the more you know, the better equipped you are to make informed decisions. In the end, effective market positioning comes down to doing your homework.

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Mastering the Research Phase: The First Step in Crafting a Winning Marketing Strategy at Lagom https://lagomstrategia.hu/2022/12/17/research/ Sat, 17 Dec 2022 10:22:26 +0000 https://lagomstrategia.hu/?p=900 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.

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