The Wit’s Step by Step Guide to solidify your Marketing Strategy
Are you part of a team that’s doing everything right with your business, except your reach?
Are you part of a Business that has excellent products, but can’t reach your audience?
Not sure where to start? Don’t worry! The Wit is back with another blog to help you with these dilemmas!
The Wit, a digital marketing agency near me, is back with another blog to help you with these dilemmas!
To start off with, What is a Marketing Strategy and why is it so important?
Investopedia defines a marketing strategy as the business’s overall game plan for reaching prospective leads and turning them into customers of the products or services the business provides. Generally, it involves the company’s value proposition, key brand messaging, data on target customer demographics, and other high-level elements.
How to Differentiate between Marketing Strategy and Marketing Campaigns?
It’s important to differentiate between the two, and then make conscious decisions to carry each out.
Your marketing strategy framework is more of a high level, overall strategic plan that is connected to the entire brand, and its organisational objectives. Whereas marketing campaigns are much more focused, short-term initiatives set out to achieve a very specific goal.
Your marketing strategy should be used to help inform your marketing campaigns. A marketing strategy encompasses the bigger picture. A marketing campaign, on the other hand, describes the logistical details for each specific project.
Now that we know what exactly a Marketing Strategy is, here’s a Step by Step Guide you can use to solidify your Marketing Strategy from the Wit: a digital marketing agency near me!
Step 1: Define who your Target Audience Is
Before constructing a solid marketing strategy, it is vital to know exactly who you plan to target. Who your target audience is will impact many important decisions that you need to make, from branding and pricing, right through to the messaging you use, and marketing channels you choose to promote your products or services on. he more defined your target audience is, the better your marketing strategy will be as you’ll be able to create all of the brand marketing content, messaging, and ads with them in mind. As time goes on, and you gather more insight, you will continue to gain a deeper understanding of who exactly falls into your target audience. So don’t be afraid to learn as you go, and be adaptable to change, as you might find you need to go after a different group of customers to those you originally set out to reach.
Step 2: Define your Goals.
When it comes to planning your marketing strategy, a good place to start is with your goals and objectives. Because, without them, how are you meant to know if your marketing efforts have succeeded or not? Ask yourself these questions:
- What exactly do I want to achieve? – Be as specific as you can.
- How will I know when I have reached my goal? – Measures for success or failure need to be determined; whether they are the number of leads you have gained, or the followers, sales, etc.
- How can I achieve this goal? Is it realistic? Is the goal challenging but achievable?
- How does this goal align with my organisational goals?
- When is the deadline?
Step 3: Define the Marketing Channels you will be using
With ample platforms and channels available at our fingertips, it’s important to define which Media platforms we will be employing to spread the word about the business. In today’s world, Digital marketing is an umbrella term for all of your company’s online marketing efforts. Will you be printing ads and sharing them through newspapers? Will you be focusing on Social Media and mobile platforms such as Facebook, Instagram, Twitter, Pinterest? Social media has become a fundamental feature for brands in recent years. Its leading function is no longer just content sharing with the aim of generating traffic. It has evolved to become much, much more. Social media has also paved the way for a whole new avenue of advertising. Due to the wealth and variety of data that social media enables businesses to gather and analyse, advertising can be automated, optimised, and highly targeted based on demographic, geographic, psychographic, and behavioural information. While these are just a few Marketing Channels we have listed down, there are countless pathways you can take to market your product. Figuring out what the best one for you is where the money is!
Step 4: Customer Retention
After the long, arduous marketing strategy, you’ve made a sale! Or more likely, many sales. Go you! But your story doesn’t end here! The biggest mistake that you can make as a marketer is believing that the point of sale is the end of your relationship with a customer. In fact, the sale is just the beginning… Play your cards right and you could nurture one sale into a life-long, loyal, and profitable, brand-customer relationship. Ensure that you have a strategy in place to sustain this relationship!
Step 5: Analysing your Marketing Strategy Performance
The final step after planning and implementing a marketing strategy is to measure its results. In this day and age, we have the huge advantage of having access to a wide variety of customer data and analytics that we can use to analyse marketing strategy performance and assist any future decisions. To conclude, Pulling together a successful marketing strategy plan won’t just happen overnight. There are a number of factors that we have touched on throughout this guide that must be considered.
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