Quick 6-point strategic framework

Doing what you’ve always done is tempting. If it ain’t broke don’t fix it and all that.

BUT conducting a regular validation exercise for your day-to-day operations provides a great base for annual planning, encourages a growth mindset , provides clarity for your team’s KPIs, a basis for your ongoing internal and external comms plan as well as reassuring yourself you’re on the right path. These are strong reasons people!

I’ve always loved conducting these exercises as some great nuggets always fall out.

Here is a 6-point plan to get you started. I’ve focused this on content and events but it can easily be adapted according to your industry:

1. Define and truly understand your target audience: What are their interests, needs, and pain points. This can help you create products that resonate with them and provide value.

2. Analyse your competition: In the content and events space, competition can come in many forms, such as other content creators, social media influencers and UGC. It's important to analyse your competition and identify what makes your concept unique and valuable.

3. Define your value proposition: This should focus on what sets your product apart from the competition and how it can provide value to your target audience. It may include unique expertise, a specific niche focus, or a distinctive style or voice. A useful tool to develop this is the brand pyramid.

4. Determine your distribution channels: Consider which channels will be most effective in reaching your target audience. For content products, this may include social media platforms, email newsletters, blogs, and other online outlets. Events need to consider a 365 strategy to create a community away from the live experience. It’s also worth considering licensing and distribution partnerships, as well as online marketplaces and other relevant channels.

5. Develop a pricing strategy: Pricing can be a challenge for content products, as it can be difficult to assign a value to intangible assets. But this is crucial to diversify your revenue streams in the cookie-less world. Work backwards from what your audience needs and create products you can monetise from the very outset. Think laterally. Launch, test and learn.

6. Create a marketing plan: Your marketing plan should focus on building awareness and engagement with your target audience, showcasing your unique value proposition, and driving conversions. Consider strategies such as social media advertising, influencer partnerships and content marketing to introduce people to your brand, and email campaigns to increase return visits and brand engagement.

Conduct this process regularly. Use data to sense check 1, 2 and 3 on an ongoing basis and revisit 4, 5 and 6 to innovate.