Before we tell you how to compose an effective marketing strategy, you need to understand what a marketing strategy is and how it can help you improve your advertising.
.In simple terms, business marketing strategies are a tool marketers use to outline their various campaigns and marketing models. It’s the how of how you’ll get customers interested in your products and services.
To create an effective marketing strategy, you need to do six things:
1. Understand who buys your products or services (who are your customers and how are you using your customer list?)
2. Understand how to motivate these people to buy/continue to buy your products or services
3. Understand a marketing plan isn’t push the button once and that is all you must do. Understand who your competitors are and what they’re doing to achieve the same objectives
4. Understand how to measure the success of your marketing campaigns and efforts.
5. Understand how to evaluate the produce or service value that you’re selling.
6. Understand a marketing plan isn’t a one-time fix but a growing process that changes with the business environment.
Now some basic things to consider: Planning = “P”
1. Product – What you’re trying to sell
2. Price – Profit margins, marketing budget, etc.
3. Place – What channels or platforms will you use? (For example, will you be advertising on social media, utilizing email marketing, or going offline?)
4. Promotion – What are you trying to achieve? (Are you hoping to build your social media presence, increase brand perception, promote a new product, or something else?)
5. People – Who is your target audience? First place is your customer list
6. Co-Op – Opportunity funds from OEMs (Just ask)