Your marketing strategy is important to your business!!!
The focus of your strategy should be making sure that your products and services meet customer needs and developing long-term and profitable relationships with those customers.
To achieve this, you will need to create a flexible strategy that can respond to changes in customer perceptions and demand. It may also help you identify whole new markets that you can successfully target.
The purpose of your marketing strategy should be to identify and then communicate the benefits of your business offering to your target market.
Branding-Establish A Clear Identity
You need to understand some concepts that will help you in marketing your products, ideas or business
Brand-perceive emotional image as a whole. Identity-visual aspects that form part of your overall brand. Logo identify a business in its simplest form via the use of mark or icon.
In order to communicate what your company is, does and stands for, you need to have a clear identity. Once you know what your company represents, you need a suitable name, a logo, colors and imagery that convey this to your customers.
There are several different options for how to do this, including hiring a freelancer or collaborating with an established agency.
This kind of work can be costly, but it’s money well spent. Think about how huge companies like Starbucks or McDonald’s are defined by their brands, logos and colors.
When you have your logo, make sure you put it on everything, advertising, business cards, envelopes, email signature and so on to build brand awareness and visibility.
You should also go beyond just “rubber stamping” your logo everywhere – your brand should be memorable even if the logo is removed.
Know Your Business And Know Your Customers
A common misconception is that there is some kind of one-size-fits-all marketing strategy that you can follow and expect great results, whatever your business. This is simply not true since all businesses are different, and all have different requirements.
Before you choose which elements to integrate into your overall marketing strategy, you need to think carefully about your target customers. What is their demographic? How old are they? Where do they live? What online services do they use? How do they look for your product?
Being clear about details such as these will allow you to develop a targeted and more effective overall strategy that focuses on the channels most likely to produce results for you
Developing Your Marketing Strategy
With an understanding of your business’ internal strengths and weaknesses and the external opportunities and threats, you can develop a strategy that plays to your own strengths and matches them to the emerging opportunities. You can also identify your weaknesses and try to minimize them.
The next step is to draw up a detailed marketing plan that sets out the specific actions to put that strategy into practice.
Questions to ask when developing your strategy
- What changes are taking place in our business environment? Are these opportunities or threats?
- What are our strengths and weaknesses?
- What do I want to achieve? Set clear, realistic objectives.
- What are customers looking for? What are their needs?
- Which customers are the most profitable.
- How will I target the right potential customers? Are there groups that I can target effectively?
- What’s the best way of communicating with them? These are some question you need to answer.
Work The Referrals
Use your existing customers to drum up more business: try to incentivize referrals to encourage your customers to bring in more.
It’s difficult to generalize here since this could take so many forms depending on what kind of business you run. However, if you offer rewards like free products, gifts , discounts or something else, your already satisfied customers will be happy to bring in more leads for you.
The other advantage of referrals is that if your customers are recommending you to their friends, their friends will automatically be more predisposed to trust you. For this reason, referral leads offer a much higher conversion rate than many other channels.