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Monolith’s B2C Marketing Matrix — Shortcuts to Key Marketing Best Practices
As my team grows, I’ve been reflecting on better ways to communicate solid marketing strategies without making the error of going for…
As my team grows, I’ve been reflecting on better ways to communicate solid marketing strategies without making the error of going for “one-size-fits-all” systems.
Yes, every business is different. But it also doesn’t have to mean that you have to customize for every single business. You don’t have to.
If you can build or borrow frameworks, it’s becomes much easier for you to navigate through different types of marketing challenges.
The team and I developed a simple 2x2 matrix that serves as a starting point on how to serve clients depending on their industry.
Here’s the matrix:
This matrix has two vectors:
Durable <-> Consumable Products
Experiential <-> Functional Products
Let’s go through each quadrant, and I’ll share what’s the best promotion and content strategy for each.
Quadrant 1: Durable + Experiential Businesses
Furniture, Beddings, Shoes, and Cameras
Durable products are typically not bought impulsively. It takes a few visits and considerations before customers pull the trigger. Many eventually lapse off and go to a competitor if you wait too long.
Thus the normal approach here is to offer deep, time-limited discounts (or gifts with purchases) to manufacture an artificial reason to buy.
Apart from discounts, exclusivity through limited edition / limited stock also helps. The marketing principle is the same as before where you’re pushing for scarcity & urgency.
Given that it’s an experiential business, the two most important things to drive conversion is aesthetic fit (i.e. “is this design right for me?”) and product innovation (i.e. “the brand always comes up with something new & fresh”).
It’s important for brands under this quadrant to be perceptually ahead that it’s a smart move to flush out old stock fast through deep clearance sales so you can make way for better product versions. A forward-looking product launch strategy is imperative.
60% Off Promotion from Home24
Aesthetic-based Categorization in Home24 (Aesthetic Fit)
Quadrant 2: Durable + Functional Businesses
Electronics such as laptops, power banks, and speakers. Mattresses fall into this space as well.
Same as Quadrant 1. Deep discounts or gifts with purchases.
Given that it’s a functional business, the positioning is simpler in the sense that 1) it’s a better painkiller, 2) better authority / proof, and 3) better technology.
Experiential businesses fight over the best concepts, while in functional businesses, it tends to be an arms race — to whoever builds the best possible product first.
Communicate Why the Technology is Better (Xiaomi Scooter Pro):
Mix of Authority / Proof and Technology (Casper):
Quadrant 3: Consumable + Experiential Businesses
Cakes, Salads, Beverages, Fragrances
Unlike durable businesses, which tries to create urgency & scarcity to close the deal, consumable products have it inherently (i.e. people get hungry, thus they buy food. People need a bath, so they need soap). Instead, the challenge of most consumables is that they need to encourage repeat purchase.
Thus, it’s fairly common in this industry to see subscriptions, bundles, and loyalty programs. If you have a lot of complementary products (shampoo / conditioner), go for bundles. If you want to drive habit creation, do subscriptions & loyalty programs.
Same as Quadrant 1. Product innovation is important (e.g. Mcdonald’s twister fries). And instead of aesthetic fit, what you need is “brand fit” (i.e. is this product right for me?).
Subscription as the Default (Blue Apron):
Quadrant 4: Consumable + Functional Businesses
Supplements, Anti-Dandruff Shampoo, Anti-aging Skincare
Same as Quadrant 3. Focus on subscriptions, bundles, and loyalty programs
Same as Quadrant 2. Win with better technology or better authority / proof. If you’re doing a value play, then win with better supply chain.
Supplement Bundles (“Stack and Save” from PEScience):
Authority + Bundle (Influencer’s Stack)
By using matrices and frameworks, it becomes easy to figure out what’s the best and most strategic approach to solve any business’ problems.
If you’d like a smart & strategic approach to solve your most difficult growth problems, book some time with me here: https://go.oncehub.com/bookmonolith