Marketing requires a balanced combination of creativity, project management, analytical thinking, and data. These requirements mean that companies these days need people with a variety of skills, and those people have to use a number of tools to achieve marketing success.
There are a number of marketing frameworks that companies can utilize to bring everyone involved in the marketing process onto the same page.
This will also bring many other benefits to businesses. With a marketing strategy framework, companies can ensure their campaigns achieve success. That’s because with such a framework in place, all of a business’s marketing materials will be distributed to the target audience at the right time, and on the most relevant channels.
7P’s Marketing Framework
One of the most popular marketing frameworks used by brands and corporations is the 7Ps framework. This framework is able to consider every stage of a company’s business strategy, from the beginning to the evaluation stage.
The seven Ps stand for the product, its price, the promotion strategy, the place for making sales, the process of delivery, the people involved, and the physical evidence that the business matters to consumers.
Companies that use this marketing framework benefit from the opportunity to both analyze and optimize each stage of their business operations.
Lean Analytics Marketing Framework
The lean analytics marketing framework was developed by Alistair Croll and Ben Yoskovitz. This framework combines the aspects of a variety of other marketing frameworks, and it’s the best choice for small or new companies that want to grow.
There are five stages in this framework, including empathy, which the company uses to develop products. More specifically, this is done by listening to customers and taking their feedback in order to figure out how to solve their problems.
Then there’s the stickiness stage, where the company focuses on retaining and engaging consumers, which continues into the virality stage.
The fourth stage is the revenue stage, during which the business has to make sure that the customers spend more money than they cost to acquire. The final stage is the scale stage: once the business has learned enough about its market and product, it’s finally time to increase the revenue from the current market and to potentially enter new ones.
STP Marketing Framework
This framework has a top-down approach that is focused on the way that businesses address their target audiences. The framework helps with delivering personalized messages to the customers.
The name of the framework stands for Segmentation, Targeting, and Positioning. The first step is to divide the target audience into different segments, then to target the people who will be the most receptive to the company’s solution, and finally to make the product or service appeal to the audience segment.
Hook Marketing Framework
The Hook framework was developed by Nir Eyal, who authored the book Hooked: How to Build Habit-Forming Products. According to Eyal, most popular products achieve this status because they become an everyday essential for consumers. There are three stages of this framework, which starts with the external trigger which reminds consumers of an issue that needs to be solved.
The next stage is the action stage, where companies make a problem easy to solve with their solution, which makes consumers more likely to purchase it. Then there’s the variable reward stage, which allows consumers to anticipate a reward from the business. If the reward is variable, their anticipation will be even higher.
That makes them a lot more likely to make a purchase. The last stage is the investment, which makes it difficult for the consumers to stray away from the product, and keeps them “hooked” to the business long-term.