marketing strategy

Why do I need a marketing strategy for my business?

Many new business owners struggle to know what their marketing strategy is; they often have a blurry plan to ‘sell more products/services to customers’. Without having a specific strategy, it isn’t going to be measurable and achievable. It includes short-term and long-term activities in your marketing that hugely contribute to the goals in your company.

By having a marketing strategy, you will know exactly who your target market is, and how to reach them. Reaching the right people will enable you to make the required level of sales to create business success. A marketing strategy means you can put the right amount of marketing approaches in place, bringing your sales and marketing techniques together effectively. It can show you the different ways you approach your customers, and work out which approaches are most successful, saving you time and effort in the future. It is important to obtain new customers for your business to grow. But don’t forget about the customers you already have!

competitorsPart of the strategy is to check out your competitors. How do they approach their target market? What are their marketing methods? But what do you offer that they don’t? A focused marketing strategy can subtly show why your business doesn’t only represent good value, but how it is different from the competition and better. Find your competitors’ weaknesses and make them your strength.

This will take you to the next step of working out how you are going to market what makes you stand out. Many businesses have USPs that they haven’t thought are important to show off. But your USPs are so vital in making you shine amongst your competitors. So it’s important that you’re marketing them well.

By having your strategy, you are a big step closer to creating your marketing plan. Your marketing plan is what puts your strategy into action, by setting budgets, deadlines, and telling you how you will communicate to your target market. It could be advertising, networking, direct marketing, etc. The marketing plan will also look into the future of your business, and show how you’re developing.

For expert assistance on how to create your effective marketing strategy, contact me.

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