What is a marketing strategy?
A marketing strategy is a long-term plan of a company’s various approaches to their product marketing. Its aim is to assist a business in attaining a competitive advantage in its target market. A well-articulated marketing strategy answers the most important marketing questions – which include where are we, where we are going from there and how we are going to get there. It is what ensures that businesses have clear knowledge of who their customers are, their needs and how to implement the solutions they have for those needs. Without a good marketing strategy, a business will find it hard to grow and make profit, no matter the quality of their products/service.
How is a marketing strategy different from marketing management?
The two terms are often confused and, consequently, may be used interchangeably. While marketing strategy refers to the various strategies with which a business sells their products and services to their target audience, and which gives them a competitive edge over others in the market, marketing management is made up of the experts in a company whose responsibility it is to plan and effect these strategies for defined objectives.
What are the most effective marketing strategies?
The most effective marketing strategies are those that focus on a particular strategically-selected target audience and emphasise the various benefits of their products through the prospect’s perspective. These strategies always take into account when potential customers are likely going to be attentive to all their marketing efforts and how they will buy. These kinds of strategies position their marketing messages in a personalised manner and take advantage of all promising channels.
Can I use campaigns only as my marketing strategy?
It is easy to feel marketing campaigns are the only strategy you may need. They are more focused than any other method and they have a singular message. They have a set duration and methods of measuring results. However, the problem of using only this singular marketing effort is that it doesn’t take into account the manner your target audience digest information. It does not capture the full picture of what your customers care about and so shouldn’t be your only strategy.
What will my marketing strategy do for me?
Your marketing strategy is your ticket to a successful journey from where your business is presently to where you need it to be. Which means it will help you develop new markets for your products and services and increase your presence in existing markets. It will also ensure you have a good grasp of how your product is doing and, consequently, help you innovate flexibly.
How should my digital marketing strategy be structured?
Structuring your digital marketing strategy should place focus on a couple of activities which should be emphasised to varying degrees. They include planning, engagement, conversion, and reach. Depending on your industry, one or more of these will be more emphasised than others in your long-term strategy.
How can I tailor my message to my audience?
Tailoring your message in the right way is as good as your entire marketing strategy. With advancements in content marketing, marketers are now focusing more on understanding the customer in the most thorough ways possible. There is no single method for doing this. Rather, how your message will be tailored depends on your target audience behaviour. Create a true persona of your customers and gain a deep understanding of their purchase routine.
Why is marketing strategy such a big deal?
Success in business depends on making clear choices. Most successful businesses understand this and make sure every choice they make is informed by an overall understanding of where they want to be. At Connect Digital Marketing, we place a lot of emphasis on marketing strategies because we know that to attain success in business one needs to have an idea of what successful marketing is. This is what a strategy provides you with.
I run a successful business, why do I need to worry about marketing and strategy?
The fact that you run a successful business doesn’t mean it is always going to stay that way. While you are at the top of your market, other businesses are constantly working to take that position. New ones are going to come up in the future with better methods. In order to adapt to the competition and changes in your market, you need to have a quality long-term plan.
What are the best platforms and channels to use?
One of the mistakes most of our clients make in their marketing strategies is to use a single channel to employ these strategies. No matter how good it is, it won’t be as effective as using multiple channels because marketing is more of the idea behind the channel. Select multiple channels which will be informed by your target market.
How effective is word of mouth as a marketing strategy?
Word of mouth is a traditional marketing strategy and it does works sometimes. But, for the most part, it doesn’t. This is because we rely on our friends and family for this method to work. But, unfortunately, they too have their own lives to live and their businesses to run. So, you are likely not going to get much through this means.
How do I track what is working?
It is easy to track your activities in digital marketing and know which of your marketing strategies is working and which isn’t. Software is available for measuring which of your strategies are working like ClickMeter, LeadFerry Content Analytics Software, Segment, and so on.
How will my market come to trust that I have the answers?
The two marketing objectives are to acquire more customers and retain old ones. For both, trust is one of the determining factors. This question might seem simple, but it is very important. To earn customer trust, you have to show your expertise in the industry and employ content marketing as part of your strategy. Make sure to use case studies during your campaigns also.