Marketing strategy is the most effective way to set and achieve your business goals quickly, simply, and measurably.
The final result of a well-executed strategy is a competitive advantage.
Step 1 – Set goals and objectives
Use the SMART list to pinpoint your goals and objectives.
To steer your business toward achieving the desired outcome you must first have a clear idea in your mind of what exactly that outcome is.
Get started. Grab a pen, and paper, and start writing down your business goals and objectives. Use as much detail as possible for each goal.
Be Specific – State what you’ll do. Use action words.
Measurable Goals – Use metrics and data to evaluate your progress.
Make it Achievable – Work towards a goal that is challenging but achievable.
Be Realistic – Will this goal improve your business and line up with your values?
Timely – Give your goal a deadline.
Step 2 – Identify your target market
Once you have identified your target market you can start planning your marketing activities. You will understand the problem that your customer faces, and how you can help them solve it. You will know the price points of your market, and you will know where to communicate with your people.
Really think about the market that best matches your product/service.
Remember to include targeting the person who is actually PAYING for your product, keeping in mind that this person may be different from the end-user. Drill down into the below segments to explore.
Craft personalised content to your target market, if you can, make your target market a person.
Give that person a name, and create content specifically for them.
Step 3 – Research your competitors
The competition… they are there to help you look good. They set the benchmark and all you need to do is just be that little bit better. There are many ways to research your competitors, their website, social media or by using their service yourself.
You can run online client surveys to find out what people do and don’t like about their current service providers. A great tool to drill down into what the competition is doing is performing a SWOT analysis on their business.
Strengths – What do they do well, what separates them from the others should be fairly obvious.
Weaknesses – What areas are they lacking, these will be areas you can strengthen in your business, to give yourself the competitive edge.
Opportunites – Is there an underserved area you can identify, where the market isn’t having it’s needs met? These are opportunities for you.
Threats – Is your competition growing at a fast rate, perhaps expanding franchises in your area.
Step 4 – Develop your brand Kit
Your brand distinguishes you from your competitors and offers clarity to your customers about why you are the better choice. Most importantly your brand helps to build trust and loyalty with people.
Branding tips and tricks
- Keep your brand consistent across all marketing
- Use a colour palette of 3-4 colours, maximum 5
- Learn about colour psychology
- Assemble a brand kit including logo, font & colour palette
- Check your brand is available before proceeding with designs
- Use a graphic designer for a professional logo
Step 5 – Build an engaging website
Your website is your “shop front window” online. This must catch the eye of the user, be easy to use and navigate seamlessly from page to page.
Websites should be full of easily accessible information, about your business. This is where people go to find out the services you offer, information about your company, store location, reviews from your past clients, and your contact information.
Things to consider
- What the theme of your website will look like
- The content you are going to provide to your audience
- How often will you update the information on your website
- How will you promote your website to drive traffic
- Using lead magnets as a call to action
- Professional photography to customise quality images for you
- Adding a blog or vlog page
Step 6 – Use a CRM
Customer relationship management systems are vital to businesses growth and customer retention. A CRM helps to record each interaction you have with your customers. As a result, this gives you a documented history of contact, at your fingertips. Want to make a quick note of one of your top client’s birthdays so you can remember to send them an email on the day? This is the place to do that, and your clients will love you for it.
How will a CRM help you?
- Provides a central database of your clients
- Strengthens your customer’s experience. By storing notes about that client that you may like to remember, for example, the anniversary of their grand opening or new product launch
- Offers a system for distributing email marketing campaigns
- Provides personalized customer journeys
- Uncovers customer insights and trends
- Shares information with others in your company about interactions you have had in the past with clients
- A Reminder of information about individual client preferences
- Reports on past sales interactions
Step 7 – Get busy on social media
Social Media will help you connect with customers and spread the good word about your product/service. With over 3 billion people on social media, worldwide, it is a no-brainer that this is the ideal place to advertise your product and engage with people.
Social media is easy to use and best of all, it’s free! There are of course paid advertising options but you can build an audience organically without the need to pay out hundreds, or thousands, of dollars. All of this from the comfort of, well, anywhere you like!
How will social media help your business?
- Increases brand awareness
- Sales / lead generation
- Increases community engagement
- Increase traffic to your website
- Grow your audience
- Analyse and interpret engagement with your advertising
- Friends and family can help spread the word about your business by sharing posts and information with their contacts
- Build rapport with people by adding some content about yourself
Step 8 – Analysis
Analysing data, which you can collect through your online platforms, is key to confirming that your planning, and actions, are providing a result that will allow you to achieve your goals.
Identifying, and measuring key performance indicators will allow you to make informed decisions in relation to operational changes required in your business. You will also become well equipped to decide on areas of investment, and organizational change.
How will data analytics help you?
- Breaking down data into useable information will help you to understand your customer’s buying behaviours
- Identifies differences between your clients and their needs
- Predicting consumer behaviour allowing you to model your business accordingly
- Identify and map consumer preferences
- Forecasting sales
We are here to help!
We know that it can feel difficult to convert theory into practice and when things feel difficult we can lose motivation. But! these steps are really important to grow your business.
If you need any help or would like more information, please feel free to contact us here we can offer support where you need it.
Cheers, the team at CDM.