67 Lessons on Marketing Strategy

Inspired by the conversation between @mkobach and @rachelmercer

Notes 👇

What is Strategy?

• Strategy is defining the problem you are trying to solve and the plan to get there
• Many people put strategy on the backburner
• Without strategy, it's hard to know if what you are doing is successful
What is Strategy? (Part 2)

• Strategy is like running
• You can't just start running
• You need to decide where you are going to run to and if you have the stamina to get there
What is Strategy? (Part 3)

• Strategy is the rock, pebbles, and sand in a jar story
• Is it the new shiny object (eg. TikTok) a rock?
• Or is it unnecessary and just taking up space you don't have?

https://t.co/1E9hqC3q1R
What is Strategy (Part 4)

• Strategy is the foundation for which success can spring from
• The strategy is the GPS, the destination is tactics
• No right way to do strategy
Create Your First Strategy

• Discovery Phase: Figure out the lay of the land, what channels are we using, what are competitors doing?
• Audit: Where you are now and where you need to go
• Create from to statements (eg. silo to cohesive strategy)
Frameworks

• An organization construct to organize your thinking at any point in time
• Examples SWOT & Simon Sinek Why
• Brand, Purpose, Mission
Strategy and Tactics

• Strategy is the overarching plan
• Tactics are actions that support that plan
Strategy and Tactics (Part 2)

• Strategy Example: we are targeting 18-25 y/o that we are tech-savvy
• Tactic Example: we will do it on TikTok, create content and do podcast sponsorships
Strategy and Tactics (Part 3)

• Strategist: where it should live and why we need to create it
• Tactic: Creating the ideas and assets for the content
Strategy and Tactics (Part 3)

• Creating a strategy and executing on the tactics is like curling
• Strategy is launching the stone
• Tactics are sweeping it to the target
Social Media Strategy

• Social media is constantly changing
• Most brands are focused on engagement
• That is usually the wrong strategy b/c their messaging is inconsistent and not thematic
Social Media Strategy (Part 2)

• Social is cheaper historically
• It's easier to test because you can hyper-target and gelocate
• KPIs are immediate compared to traditional channels
Social Media Strategy (Part 3)

• Social media strategy is a way to achieve marketing strategy
• We are living digital-first lives (more people consume digital content than traditional content)
• It's a living strategy (eg. Covid-19 shifted strategy)
Social Media Strategy (Part 4)

• What are you trying to achieve?
• Someone should follow us because of X
• This dictates what channels to use
Internet Culture Affect Strategy

• Tailor to the culture of the industry and channels
• Industries are diff (eg. Spirits vs Financial Services)
• Channels are diff (eg. memes on TikTok are constantly changing)
Brand Authenticity

• Strategists are modern-day anthropologists
• Strategists bridge authenticity and culture
Organic Social

• It's possible to only do organic, but rare
• Don't use traditional metrics such as views to measure organic
• One example of a measurable ROI is perception of trust
Organic Social (Part 2)

• Organic typically needs to be supported by paid
@steak_umm is a brand that does very good organic
• They are the exception to the rule
Organic Social (Part 3)

• Brands need to wean off filing feed
• Content needs to drive or fuel conversations
• Content is best when it's consistent
Creative Strategy

• Misnomer of word
• Strategy and creative work together
• It's a parternship
Social Media Strategy vs. Marketing Strategy

• The two go hand in hand
• It's possible to have a social strategy without a marketing strategy, though not the norm
• Glossier is an example of a brand that was a social-first strategy
How Can You Be Better on Twitter?

• Follow @JuiceboxCA
• He added value to a niche network by curating social ads
• Have a unique POV
Why Do People Share Content?

• Strengthen bond with network
• Define myself (eg. collective identity)
• Status
What Do People Get Wrong About Strategy

• People don't view strategy as valuable
• They don't understand how it drives business results

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Tip from Alex: Repeat Yourself

Reason: Your main benefit shouldn’t be expressed subtly. Repeat it three times. Make it known.

Example: Apple’s M1 Chip


Tip from Blake: Start with goals for the copy.

Reason: You need to know what you are writing, for whom, and what action it should lead to. No guesswork.

Example: My content engine at
https://t.co/jYMMlbgFCw


Tip from Alex: Use Open Loops

Reason: Open loops peak a reader's interest by presenting an unsolved mystery to the reader. Our brains are hardwired to find closure. Make your product the final closure. Example: Woody Justice


Tip from Blake: Write short, snappy sentences.

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Recently, the @CNIL issued a decision regarding the GDPR compliance of an unknown French adtech company named "Vectaury". It may seem like small fry, but the decision has potential wide-ranging impacts for Google, the IAB framework, and today's adtech. It's thread time! 👇

It's all in French, but if you're up for it you can read:
• Their blog post (lacks the most interesting details):
https://t.co/PHkDcOT1hy
• Their high-level legal decision: https://t.co/hwpiEvjodt
• The full notification: https://t.co/QQB7rfynha

I've read it so you needn't!

Vectaury was collecting geolocation data in order to create profiles (eg. people who often go to this or that type of shop) so as to power ad targeting. They operate through embedded SDKs and ad bidding, making them invisible to users.

The @CNIL notes that profiling based off of geolocation presents particular risks since it reveals people's movements and habits. As risky, the processing requires consent — this will be the heart of their assessment.

Interesting point: they justify the decision in part because of how many people COULD be targeted in this way (rather than how many have — though they note that too). Because it's on a phone, and many have phones, it is considered large-scale processing no matter what.