I sent a tweet out into the world the other afternoon, sharing that I’d spent some time on the rudiments of marketing strategy: STP.
As I sit at my dining room table to start the new year, I realize that not everyone is going to be so comfortable with the idea of STP and especially the need to position yourself according to the 3 Cs to ensure that you are putting yourself in a position to be successful.
What are the 3 Cs?
Why do they matter?
If you follow the line from customer to your competition into the things you and your company can deliver better right now, you will create a pretty solid positioning statement.
Let’s apply it using the work I did over the last two weeks of 2020.
First, I did some market research to recognize what in the world the business environment was going to look like in 2021.
I found out a couple of really interesting things that put a light on things that are likely meaningful to me heading forward:
- Only 64% of businesses have formal or planned out strategies.
- 73% of businesses are looking to their marketing departments and their strategies to create growth.
- Finally, 53% of businesses want to grow, but don’t know where to start.
That is some pretty compelling research and that led me to work on a proper segmentation built around looking at the important variable that drive decisions like:
- Whether the business is B2B or B2C
- Do you have a strategy or not?
- Size of the business
- Do you consider marketing a cost-center or a profit-center?
From there, we did a little targeting.
Finally, positioning which is where the 3 Cs come into play.
First, look to the customer.
What does the customer want?
That’s simple: they want to grow and don’t always know how.
The competition I’m dealing with is a lot of folks that are throwing around buzzwords, unfocused plans, and it isn’t being seen as effective or profitable in a lot of cases.
(So far so good!)
Finally, what can I do now that is different from the competition and delivers on the needs of my market?
I can deliver focused, effective, and profitable marketing that helps you reach your goals.
This is my example, but all of you can work through this by spending a little time with Google to do some research on the folks you want to help this year and figure out what they are struggling with or focusing on.
Lay that out as what the customer needs.
Look at your competition and figure out what they are doing that isn’t working or that is different than what folks need.
Finally, position yourself against that in a way that highlights the things you can do now that will deliver real value to your market.