Strategy – it should be the first cab off the marketing rank but it’s often the last. We’ve taken a look at a few of the elements that will make your strategy sing.
The first question you need to ask yourself; What is your business? Who are you? Who are your targeted consumers? By simply researching the market and other competitors you can evaluate your own market position with clarity. You need to have a fair idea of the position you hold in the marketplace and an understanding of how you can improve your products and services to gain a larger market share or higher profits – a sign of business growth.
The next step is to identify the goals and objectives of your business by creating a strategic plan. You need to clearly outline the go-to-market plan for your business, competition and targeted audiences. Creating a strategic plan allows you to keep focused on your aims and goals for the future more efficiently when you’re down in the trenches working on your day-to-day operations.
Once your business strategy is in place it’s time to get slightly more tactical with a marketing strategy. Your marketing strategy needs to encapsulate the essence of your market research and strategic planning and then pair it with specific marketing actions to achieve your business goals.
Outline and set objectives using the SMART method; specific, measurable, achievable, relevant and time bound. As far as specific actionable items are concerned, areas to investigate for your marketing strategy include;
- Social content and ad campaigns
- Email marketing
- Affiliate marketing
- Video marketing
Creating a clear-cut strategy will ensure your marketing actionable’s are delivered on time and on budget with a clear return on investment.
Don’t forget to refine
Once your strategy is activated be sure to keep an eye on it – optimisation plays a big part in the digital world and you can often see a 30%+ improvement in campaign ROI by optimising your campaigns regularly.