Marketing Due Diligence & Strategy Formulation

Marketing due diligence and strategy formulation are essential processes to assess the market landscape, evaluate opportunities and challenges to develop a comprehensive plan for effective marketing initiatives.

It involves conducting a thorough assessment of the marketing-related aspects of a business before making strategic decisions. This process aims to gather insights into the current state of the marketing function, potential risks as well as threats and opportunities.

Some of the key steps in marketing due diligence I perform include:

  • Market analysis – evaluation of the market size, trends, competitive landscape, and growth potential in the industry relevant to the product or service.
  • Customer insights – to understand customer behaviour, preferences, needs, and perceptions through data analysis, surveys, and feedback.
  • Brand assessment – assessment of the brand strength, its reputation, and positioning in the market.
  • Marketing assets audit – review of marketing materials, campaigns, and digital presence to identify strengths, weaknesses, and alignment with business goals.
  • Competitor analysis – analysis of competitors’ marketing strategies, positioning, and market share to identify areas for differentiation.
  • Marketing operations – examination of the efficiency and effectiveness of marketing processes, team structure, and resource allocation in delivering value proposition.
  • Risk assessment – identification of marketing risks impacting on the effective strategy execution as well as marketing-related risks, such as regulatory compliance, reputational risks, or changes in consumer behaviour.

Strategy Formulation

During a strategy formulation process, I develop a comprehensive and actionable plan that outlines the organisation’s approach to achieving its marketing objectives. This plan considers the insights gained from marketing due diligence and aligns marketing activities with overall business goals.

Key steps in strategy formulation I consider are:
  • Goal setting – defining clear and specific marketing goals that are aligned with the overall business strategy.
  • Target audience – identifying and segmenting the target audience based on agreed decision-making criteria
  • Positioning and messaging – an in-depth assessment to determine how the brand and offerings will be positioned in the market to create compelling messaging that drives customer preference and resonates with the target audience.
  • Marketing mix – the development of strategies for the marketing Ps to effectively communicate organisational point of difference as well as to reach and engage the target audience
  • Digital marketing – creating a plan for online channels such as social media, content marketing, SEO, paid advertising, and email marketing.
  • Budget allocation – identifying the most optimal allocation of resources to different marketing initiatives based on expected results and return on investment.
  • Implementation plan – a plan that outlines the timeline, tasks, responsibilities, and milestones for executing the marketing strategy.
  • Measurement and evaluation to define key performance indicators to monitor the success of the strategy and establish a process for regular assessment and adjustment.

Both marketing due diligence and strategy formulation are iterative processes that require a combination of data analysis, market insights, creativity, and strategic thinking.

By conducting thorough due diligence and formulating a well-structured strategy, I assist organisations make informed decisions, mitigate risks, seize opportunities, and drive successful marketing initiatives.