Table of Contents
2. What is Marketing Strategy?
3. Steps of Marketing Strategy
- Conduct Market Research
- Identify Your Target and Potential Clients.
- Conduct Competitive Analysis
- Choosing Your Marketing Channel
- Content Creation
Every products and services have ideal and potential customers and you should know who they are, where they use to be and how your products and services will improve their lives and meet their needs. While sales are the ultimate goal for every businesses, you should also have more short term goals which will improve your marketing strategy such as generating leads, establishing authority and increasing customers engagement. These goals will offer a measurable factor for evaluating the progress of your business.
A clear marketing strategy should be in alignment with company’s value that communicate the positive representation of the company and it’s usefulness to clients which will get the clients deeply convinced for regular patronization.
What is Marketing Strategy?
A marketing strategy is a business means of reaching prospective clients and turning them into regular customers of your products or services. It is a long term plan for achieving a company’s goal which encompasses a lot of things like determine who your customers are and channel to meet their needs.
Steps of Marketing Strategy
The following are the steps of Marketing Strategy necessary for the growth of any business:
1. Conduct Market Research:
Before creating marketing strategy, you will need to gather useful information for decision making. Market research will make it easier for you to understand your target and make most of your resources. Also it will help your business make data-driven decision for your marketing strategy.
2. Identify Your Target and Potential Clients:
In creating an effective marketing strategy, you will need to understand who your ideal and potential customers are, what they need and how to fill the gap of their needs. To achieve this, you will need to have the accurate data of your customers
3. Conduct Competitive Analysis:
Now that you know your customers and their needs, you will also need to know who you are competing with to get their attention. Competitive analysis will help you to find market gaps trend and figure out the most effective marketing tactics and also gives you valuable insight on pricing, marketing channel. etc.
4. Choosing Your Marketing Channel:
At this point you will decide on the best marketing channel for your message. You can start with media channel or consider a mix of traditional and digital channels such as social media, email marketing, content marketing, influencer partnership, SEO, TV. etc. Your main and top goal of this is to align your channel choice to your clients demands.
5. Content Creation:
Here, after choosing rightful channels for your marketing, you will have to creat your marketing contents and it has to be strategic because you will not want to publish random contents and you will capitalize on emerging trends for your brands to enjoy high visibility in your channel.
A marketing strategy defines key metrics and performance indicators. This makes it easier for your business to measure and track the source of marketing initiative. It will also give you you need to optimize future campaign for better results and make data-driven decisions.
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