Effective marketing starts with a considered, well-informed marketing strategy. A good marketing strategy helps you define clear, realistic and measurable marketing objectives for your business.
It is a wide-reaching and comprehensive strategic tool that helps you:
- describe business products/services
- defines your products role/position in the market
- identifies marketing tactics for your business
- allows you build an effective marketing plan
It sets the overall direction and goals for your business for the long term, unlike a marketing plan that outlines specific actions to implement your marketing strategy.
A concise marketing strategy will help you achieve your business goals by focusing on the actions required to reach the right customers, keeping your marketing focused, measuring and improving sales results. Align your marketing strategy to the business goals as predefined by your business plan, this helps define a set of marketing goals to support them going from;
- increasing awareness
- selling more of a specific product
- reaching new customers
We help you define a set of marketing goals with a specific, measurable, achievable, relevant, and time-bound set of objectives to enable your team to track your business success based on your business goals. A good marketing strategy will not be changed every year but revised when your strategies have been achieved or your marketing goals have been met. Examples of marketing goals include increased market penetration (selling more existing products to existing customers) or market development (selling existing products to new target markets), they could be long-term and might take a few years to successful achievement. However, they should be clear and measurable and have time frames for achievement.
List your target markets and devise a set of strategies to attract and retain them. An example goal could be to increase young people’s awareness of your products. Your corresponding strategies could be to increase your online social media presence by posting regular updates about your product on Instagram or Facebook; advertising in local magazines targeted to young people; or offering discounts for students.
In deciding your tactics, we do some online research, test some ideas and approaches on your customers and your staff, and review what works, choose a number of tactics in order to meet your customers’ needs, reach the customers within your target market and improve your sales results.
Need to develop a marketing strategy and plan that best serves your marketing goals? reach out to Bickdrim.
