Marketing Strategy Basics

Marketing, as has been stated in previous posts, is critical to a business and the development of its customer base. The strategy behind the plan will determine how successful the marketing effort will be. The end goal of marketing is to increase the awareness of the brand and to grow your company. A good plan will bring customers and get the message out. A bad plan will see a marginal increase in customers, if any at all, and do a poor job a getting the word out. The following information will help with planning out a successful marketing strategy.

 

Targeting the correct audience extremely important. If the wrong audience is hit, the business won’t see the results it is expecting. That audience is most likely not interested in the product or has no use for it, which is why they are considered the wrong target audience. However, if the correct target audience is hit, the results will be positive. Showing an audience products and services that they want and need not only helps drive sales, but it also gives a businesses brand a solid foundation among consumers. Also, it is important that a business know as much about their target audience as they can. This will help improve their reach to consumers and their business as a whole.

 

Research is a big component of a marketing plan as well, and it ties into what the target audience will be and the overall strategy of the marketing plan. Research can be done by using surveys, focus groups, interviews, and the Internet. Research will give advice that will help define many aspects of the marketing plan, including target audience. Without good research, a marketing plan will lack direction and miss steps, as well as overlook the correct target audience.

 

Marketing strategies also should be goal oriented. Each strategy should have an end goal in mind, whether it is a certain number of new customers, better brand recognition, or improved sales traffic. Goals help determine if the marketing plan was a success. The created goals need to specific and obtainable. If a goal is not obtainable, it is really a bad measurement. Goals also need to be able to adjust to the ever-changing business environment.

 

Analyze the current state of the business and past marketing plans. Looking at previous marketing campaigns will show what worked well and what needs to be improved upon. Analyzing the company will help develop its branding and define overall needs. The analyzing process will add more information to the marketing strategy, which will make it well rounded.

 

All of this information is good to take into consideration when developing a marketing strategy. Remember to analyze the business and past efforts, set obtainable goals, research, and hit the appropriate target audience. Look here for information on on our strategy services and you should also give email marketing a look.

 

 

 

Sources:

http://www.forbes.com/sites/advisor/2013/04/17/creating-a-successful-marketing-strategy/

http://www.entrepreneur.com/article/43018-2