Marketing Strategy from The Ideal Marketing CompanyConsultancy, planning, analysis and review
What is marketing strategy?
Your company’s marketing strategy should correspond with your business goals for selling a product or service to the best, clearly targeted audience. A good marketing strategy will build your brand and communicate your USP, enabling the creation of a focused marketing plan to identify which marketing activities to carry out and when, in order to achieve your business goals.
Why marketing strategy is important
Without a clear strategy for your business’s marketing activities, you’re basically shooting in the dark. Relying on what used to work or what others in your industry are doing is not going to deliver the optimum results for your marketing ROI. Your marketing strategy should align with your business, its position in the market and who exactly it is trying to target. This is why your strategy should be well thought out, actionable and unique to your business.
How does a good marketing strategy work?
Once you know what you are trying to achieve and who your target customer is, you can determine the best way to communicate with them and the key messages that you want to convey. This will usually involve creating a marketing plan that uses a range of different tools and strategies from the marketing mix. There’s no one size fits all. That’s why when we work with a client at Ideal Marketing we take time getting to know their business so we can develop a bespoke approach suited to their specific needs and goals.
The right strategy will reap serious rewards. Here’s how to start thinking about yours.
Ask yourself the following questions:
- What makes you different?
- What makes you special?
- What makes you experts?
- What makes you better than your competitors?
- How expensive are you?
- Are you trying to raise awareness?
- Are you trying to establish trust/credibility?
- Are you targeting a specific sector or sectors?
- Are you simply trying to increase revenue?
- Are you trying to diversify?
- Are you trying to grow?
- Who are your competitors?
- What share of the market do you have in comparison?
- Is there a niche that would work better for you than for them?
- How are you already better or different?
Now is a good time to carry out a SWOT analysis (identifying your business’s strengths, weaknesses, opportunities and threats). This will help to cement what you think you know about where your business is now and where you want it to be.
The transition from marketing strategy to implementing a marketing plan
Once you have configured the bigger picture: your positioning, your business goals, strengths, weaknesses and researched where your business sits in line with its competition, you can start looking into the types of marketing activities that will work best to capture and keep the attention of your prospects. This is where a cohesive marketing plan is crucial.
Start at the end – what do you want your marketing activities to have delivered in 6 months or a year? Consider where you are now and where you want to be – then you can look at the means to get there.
Of course, your marketing plan should include what has worked well before – if it continues to reap rewards. However, if you don’t measure what is working now, you won’t know if you’re throwing away valuable time and money that could be better spent on a different, more lucrative activity.
Marketing activities to consider using:
- Website optimisation
- Online and offline PR
- Social media
- Direct mail
- Speaker opportunities
- Events and seminars
These are just a few examples, and unless you know for certain which activities work best to attract the attention of the right people, or unless you work with an agency who specialise in marketing strategy for your sector, it will be a case of trial and error until you find what marketing activities work best to achieve your marketing strategy goals.
Speak to a specialist in marketing strategy
Perhaps until now you have carried out all your company’s marketing in-house, hoping to stumble across the marketing ideas that will work for you. Or you may have engaged a marketing agency who has promised the earth and delivered comparatively little.
The good news is that it is possible to generate significant increases in the quantity and quality of enquiries into your business with a co-ordinated, measurable marketing strategy aligned to your company’s business objectives.
The Ideal Marketing Company specialises in using tested and effective marketing ideas to improve the level and quality of enquiries your business is currently generating. These ideas have worked for hundreds of businesses around Leicestershire, Northamptonshire, the East Midlands, the West Midlands – and from across the UK. They can and will work for you too. Email Head of Business Development Jessica Shailes for more information: [email protected] or call 01858 44 55 43.
You can also book a free, no-obligation marketing consultation here.