Your Marketing Strategy
This the blueprint you use to target the right customers for your business, using the most appropriate channels at the right time and within budget.
Every time you speak to someone about your business you are involved in marketing. Any conversation about your firm is an opportunity to promote your business and increase sales.
A marketing strategy will help you focus. It will identify the different ways you can talk to your customers, and concentrate on the ones that will create most sales.
It tells you what to say, how to say it, who to say it to and when the best time is to say it. This is all geared towards generating more leads and ultimately leading to more sales.
Marketing strategy: objectives
Your marketing objectives will focus on how you acquire and retain customers. This will involve a number of different aspects – how to package your products and services, how much to charge for them and how to take them to market.
A marketing strategy will help you focus your communication and put the right mix of marketing approaches in place so that you bring your sales and marketing activities together in one marketing plan.
Marketing strategy: It’s about knowing your target audience
A successful marketing strategy depends on you understanding your target audience, how to satisfy their needs and how you can persuade them to buy from you.
There’s no substitute for knowledge. Experience and regular communication will tell you a lot about your customers. But market research will build a more detailed picture of your customers. It will help you understand how to target these people so you’re not wasting time on people who aren’t interested in your offer.
But you’ll also need to understand your market – where do your customers find out about your products. Your strategy should even tell you how to measure yourself against your competition and what new trends to expect in your market.
Marketing strategy: making a plan
Your marketing plan explains how to put your strategy into action. It will set marketing budgets and deadlines, but it will also tell you how you’re going to talk to your target customers – whether that’s through events, online marketing, your website or your offline marketing e.g. collateral material
Crucially, it will tell you when to talk to your customers. Timing your activities to fit their buying cycles will save money and maximise sales.
Finally, your marketing plan should look to the future: it should detail sales follow up – remember how important retention is.
Reviewing and measuring is very important as this will tell you what is working and what’s not – you then get to improve.
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