Marketing Strategy

Whether you’re a Fortune 500 company or just starting out on your very first small business venture, every company in the world needs an effective marketing strategy to build brand awareness and drive new customers to its products and services. However, if you’ve never been involved in successful marketing strategies, creating one can be easier said than done.

The most effective marketing strategies consider every aspect of the marketing flow, from a thorough understanding of your audience personas to a clear-cut marketing budget and so much more; there’s a lot to cover in a company marketing strategy.

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 four things:

  1. Understand who buys your products or services (who are your customers?)
  2. Understand how to motivate these people to buy/continue to buy your products or services
  3. 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.

 

What is a marketing strategy?

Whether you’re a Fortune 500 company or just starting out on your very first small business venture, every company in the world needs an effective marketing strategy to build brand awareness and drive new customers to its products and services. However, if you’ve never been involved in successful marketing strategies, creating one can be easier said than done.

The most effective marketing strategies consider every aspect of the marketing flow, from a thorough understanding of your audience personas to a clear-cut marketing budget and so much more; there’s a lot to cover in a company marketing strategy.

In this guide, we’re going to look at some of the best marketing strategies of all time and explain how you can utilize different types of marketing strategies to maximize your returns in no time.

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 four things:

  1. Understand who buys your products or services (who are your customers?)
  2. Understand how to motivate these people to buy/continue to buy your products or services
  3. 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.

 

Like a marketing plan, your marketing strategy should cover the five “Ps” of marketing:

  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?) Consider where your customers already spend their time for the optimal marketing locations.
  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? What drives them?

Once you’ve answered these questions, you’ll be in a fantastic position to start building your company’s marketing strategy.