Introducing Iterative Marketing, a methodology for continuous improvement. Born from frustration with “big campaign” thinking, Iterative Marketing is a compilation of industry best practices, packaged to work together. Learn about the six fundamental truths and six actionable components that make up the methodology.
In this episode, we discuss…
- Iterative Marketing genesis from frustration with “big campaign” thinking.
- It is a compilation of best practices within marketing, just in a package and with a name.
- The methodology is based on six fundamental truths (level-setting beliefs/understandings of marketing) and six actionable components (the actions you take to apply Iterative Marketing).
- Six Fundamental Truths are the shared beliefs of the Iterative Marketing community. They are:
- Persona-First: Marketing is most impactful when every idea is approached from a persona-first mindset.
- Programs (Not Campaigns): Programs produce the best ROI when they are indefinite (not time-boxed), continuous and repeatable.
- Measurement & Feedback: By making measurement and feedback part of the planning process, we ensure we have the data needed to make business decisions and allow for continuous improvement.
- Minimum Viable Marketing Program (MVMP): Beginning with a minimum viable marketing program maximizes opportunity to apply insights as a program grows, minimizing investment in unsuccessful ideas.
- Data-Driven Decisions: The best decisions are based on data, rather than bias or sunk cost.
- Create Insight: Experimentation is most valuable when it not only leads to improvement in program results, but also drives insights into our personas.
- Six Actionable Components are the actions we take as marketers to implement Iterative Marketing. They don’t have to be implemented all at once. They are:
- Brand Discovery: Uncover how your buying audience feels about your product or service and how they rationalize the decision to buy.
- Persona Discovery: Document the individuals involved in the buying process in a way that allows us to empathize with them in a consistent way.
- Journey Mapping: Plot the stages and paths of the persona lifecycle, documenting each persona’s unique state of mind, needs and concerns at each stage.
- Channel and Content Alignment: Align every piece of content and marketing channel/activity to a primary persona and primary marketing stage, identifying new channels and content needs where opportunities exist.
- Experimentation and Optimization: Conduct thoughtful experiments designed to produce statistically significant business insights and apply the results to optimize performance.
- Reporting and Feedback: Report and review data and insights to drive decisions in content and strategy, as well as information to be used by the organization as a whole.
For more information on the charity in this episode, please visit St. Jude’s Children’s Hospital.