Marketing Strategy Essentials
A Bridlington.net Blog post by Ann Brown Summ It Up Marketing -
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Created: Tue, Jun 2nd, 2015 - viewed 3010 times
A well constructed and practical marketing strategy will focus your mind on the most profitable markets for your products and services and should include marketing and PR to attract them! The most successful marketing strategies are simple, well planned and easy to implement. No more pointless marketing actions targeting too general an audience and reaching no one!
A marketing strategy is essential for any business. Think of all the resources you have to promote your business. This might include your web site, social networks, marketing material and E mailings. Every marketing strategy and plan should include offline, digital and social media marketing. Use them together and the impact is greater than the sum of them all.
8 marketing strategy essentials
- Research. Doing this will focus your mind on the most important part of your plan which is 'Who are your customers?' Know who your most profitable customers are and who are most likely to buy and your marketing and promotion becomes more specific and it's much easier to create offers and deals.When researching your best audience think about how likely you will be able to sell to them, how profitable they will be and how big the market it is.
- SWOT analysis. Used correctly a SWOT analysis is an incredibly useful and motivating exercise. It helps generate practical solutions and answers on where to take your business and how to proceed with the development of new products or services.Strengths – identify them, capitalise on them and turn them into opportunitiesWeaknesses – shore them up and turn them into strengthsThreats – identify them and find ways to overcome them.Opportunities – Invest in them and use them to make up for threats
- Your brand - is much more than a logo and a set of colours. It covers all aspects of your business, what you stand for, how you speak to your customers, i.e. talking the same language as them and the images and offers your customers will respond to.
- Your sales funnel, essential for every business. At the top of the funnel, how are you going to attract people to your business? The next stage is building contacts and leads, then converting them to prospects and finally converting them into sales, customers and clients.
- Marketing in action, based on who are your ideal customers are. Once identified it is easier to be clear where they shop, what they read, how they spend their leisure time and the specific items such as which phones they prefer to use, making it easier to target them. Write in a style that will appeal to them and promote offers that will attract them.
- Testing is essential for developing new products and services. Even with research it can be difficult to know what will appeal and this includes offers and where and how you promote them.
- Your marketing budget - Now you know what has to be done who you are looking to attract and how you are going to do it you will have a clearer idea of how you spend your budget.
- Monitoring is as essential s any part of your plan, if you know what marketing is working and what isn't you can build on your successes and change the actions that are not bringing in results. Monitor web stats, enquiries, follows, likes and numbers in your sales funnel.