This blog post looks deeper into a question I get asked a lot. What is a Marketing Strategy and why is it important?
Allow me go a little off piste, and address the WHY first.
Let’s start with a scenario,
Imagine you’re booking a holiday abroad.
Do you turn up at the airport with just a suitcase and no ticket, ready to buy a plane ticket to the next available destination?
Course you don’t!
You book your flight in advance, you know WHERE YOU ARE GOING!
You research hotels and book that too. You find out how far you are from the beach, you book in the car at the airport parking, deciding if it’s cheaper and you grab the shuttle, or meet and greet which costs a bit more.
You google a few bars and restaurants in the vicinity, then cross check that against Trip Advisor and find out what the most recent visitors thought.
You also change some currency, so you have a bit of cash in your wallet on arrival, you never know if you might need it and can’t use your card.
ALL OF THESE THINGS ARE METICULOUSLY CONSIDERED! We ALL do this with a holiday, me included!
So why not plan your business in the same way?
What is a Marketing Strategy?
Let’s get back to the main question.
Put simply, it’s a document containing a clear plan of action, with a rationale behind why the choices have been made.
In most cases, before a strategy is written, some primary and secondary research is carried out.
(Examples of Primary research are questions posed directly with the chosen target audience and an example of secondary might be some online competitor analysis.)
Then, within the strategy, the target market is identified, showcasing that the marketing plan is understanding of their needs, and then the products or services can be tailored to them, at the right price, with the perfect imagery and copy, so they can relate to it easily.
Why is it important?
If you have a wider team, or outsource part of your business to other people, sharing your marketing strategy with them helps them to see the bigger picture, and how their role makes an impact within the business plan.
A bit like making a jigsaw, everyone is aligned to the project far easier if they can see the photo on the front of the box of the ‘end goal’ as they’re putting the pieces together right?
Here’s a video I made that includes the points from above, in case you scrolled to here and didn’t want to read the detail!
DO YOU NEED A MARKETING STRATEGY?
If you need a marketing strategy writing for your business, let’s do this together.
There are 3 ways we can do this:
- Join the next 8 week Growth Programme
- Book a full day Marketing Masterplan with your team
- Come on a 3 day Marketing Retreat with us – Launching 2023 – Enquire today.
All options cover 6 key areas:
- Your Product or Service – We clarify your offerings
- Your Customer – Who is he or she, and we create a perfect customer ‘avatar’
- Pricing Structure – We look deeper into how much you’re charging, from a margin point of view, how much the customer is willing to pay and what your competitors are charging
- Touchpoints – How will your customers find your products?
- Marketing calendar – what to talk about throughout the year
- Finally the marketing process – Who will do what?
So, if you’re an entrepreneurial business owner with audacious goals, then get in touch with us today.
We are on hand to support your journey.