Developing a Marketing Strategy, the complete guide for you.
Whether you’re a business owner, a new startup or an established brand, creating a marketing strategy and executing it is a bigger challenge than setting up your business.
In our time that is heavily influenced by technology and social media, the best way for your product to reach the masses is to use digital mediums. A complete marketing strategy will include propositions and methods of strategically targeting the audience; your competitive advantage, consumer psychology, demographics, brand messaging etc. This marketing strategy will work as a constant building brick for your marketing plans. Now and for all future branding.
A good marketing strategy works like a road map to guide your company and employers. It will help you regulate your goals and corresponding results. It will also help you devise new marketing campaigns. Marketing strategies are built based on extensive research in order to achieve maximum profits for your brand.
A well devised marketing plan will
- underline your objectives,
- identify your audience,
- help you budget strategically for your business
- help you regulate your goals and stay on track
- create a marketing strategy specific to your product
7 Steps to Create Your Own Branding Strategy
- Establishing an Identity
The first step to creating a brand is to have a definite identity. You need to decide what your company represents and what it stands for. All of this is then executed through your logo and brand name.
A logo is the perfect way to develop an image for your brand and convey that to your customers. A logo is your identification symbol therefore its very crucial that its noteworthy and representative of your brand. You can hire a freelancer to professionally design your logo which can be costly but its worth the investment.
- Knowing Your Target Audience
Before shooting your arrow, you need to study to study the target. Marketing strategies cannot be uniform across all brands, you need a specific strategy specially devised for your brand and its target audience.
To help you figure out your audience you need to answer the following questions:
- Know your product
First step is to obviously have complete knowledge about your own product and what kind of an audience it attracts
- How do they think;
What are their interests, hobbies, attitudes, behaviors etc.
This includes your audience’s age group, socio-economic class, gender, education, location and family status.
- What gets their attention
Depending on your demographic research, you will understand what your audience wants; this will help in formulating a marketing plan that specifically focuses on what gets their attention.
- Which medium can be used to reach them;
You need to know which medium of communication your target audience uses, for example young people are more inclined towards social media (Facebook, Instagram etc.) whereas adults will be more inclined towards print media, email etc.
- Digital Marketing
You can market your product or brand through digital marketing platforms such as Facebook, Instagram, Twitter etc. These networking websites are an excellent and convenient way to boost your product. Facebook and Instagram ads are a great tool to market to a specific audience by using their filtration tool. Understanding the social media algorithm can be a complicated affair and due to lack of resources, it can become quite difficult to market the brand on your own. There are marketing agencies that specially cater to small businesses and handle their marketing while you can sit back and focus on your business rather than getting entangled in brand marketing. This also saves you a lot of money because once you hire the agency, you don’t need to invest money in any resources or employees- it will all be provided by the agency.
- Attractive Website
A poorly designed website will act as a major turnoff for any new customers. It is crucial that you invest in good web designers that cater the website according to your customers. A good website should be visually attractive and user friendly. It is the gateway to your business; therefore, it must give the best impression to your customers.
Search Engine Optimisation is the key to redirecting web traffic towards your website. SEO experts can help you understand the algorithm and make your website show up as one of the top search results. It also helps in getting organic engagement and directs customers to your website. SEO helps your website come out on top of search results and if you’ve ever searched for anything on google you automatically click on the top results and ignore the rest.
- Using influencers and sponsors
In recent times social media influencers have become a force to be reckoned with when it comes to product endorsement. The number of likes and followers on Instagram/Facebook can help you reach a wide variety of customers using someone else’s platform.
- Partnerships with other businesses
You can promote your business by partnering with other business that might be getting more attention or engagement to help boost your own products. This will also help you reach new customers and will redirect traffic towards your brand!
Want to make marketing more convenient?
Whether you’re a well-established business or a small start-up, there must have been times where marketing and the new digital world feels like a hassle. Maybe you’re too busy trying to work on your business model and provide for your pre-existing customers that you miss out on the opportune world of digital marketing. Instead of hiring employees and investing in more resources that you are not an expert in, the go-to solution for you is to outsource your marketing activities. By outsourcing we mean, you hire a marketing agency that works alongside you to help you market your brand efficiently and in todays day and age, digital marketing is significantly necessary for your brand to succeed.
Still not convinced? Here are 6 reasons why you should hire a marketing agency!