10 Solid Marketing Strategy Steps
1. Define your brand offering
Defining your brand offering is the first step in creating a great marketing strategy. Of course, this can mean different things for different companies. Yet it’s important to identify what you want your company’s customers to think of when they hear the name of your business.
If you’re selling chocolate chip cookies, you might want people to think of the kind that their grandmother makes or some special recipe from a famous chef. If you’re selling cars, it would be more helpful if people think about sports cars or luxury sedans.
Identify your target audience and their needs/wants about your product or service. Then, you’ll need an idea of how much they spend on these items yearly.
This way, you can estimate how many dollars in sales revenue will come through this channel over time. Thus, you can determine whether there’s room for growth among existing customers who aren’t yet satisfied with their recent experience!
2. Identify customer pain points.
Before you start creating your marketing strategy, it’s important to identify customer pain points. This will help you figure out how to solve them and what kind of information or products you should be selling.
For example, if someone tells me they want to lose weight or get in shape but aren’t sure where exactly they should start and how long it will take them—I would ask questions like:
What do I know about this person’s health? How many unhealthy habits does he/she have (e.g., smoking, drinking, etc.)? What does she like eating/drinking?
What is his/her current fitness goal status (e.g., fit enough for running but still needs more time)?
3. Identify market trends and competition.
To identify market trends and competition, you need to understand your customers’ needs.
You can do this by:
Identifying the pain points they experience with their current products or services. These are usually things like ‘I don’t have time,’ ‘My data is not secure,’ or ‘I don’t know where my new clothes are coming from.’
Looking at what other companies offer that solves these problems. For example, you want to be more environmentally friendly by purchasing recycled materials, or you want better security than the standard password system.
4. Create your value proposition
Your value proposition is why you exist and should be easy to understand. It’s what makes your product or service unique in a crowded market. If a company wants to differentiate itself from other competitors, its value proposition will help them do that.
The first step toward creating your value proposition is defining it. What are the core characteristics of your business? What makes it different from its competitors’ offerings? How do these characteristics translate into benefits that customers want or need?
A good way to start thinking about this question is by breaking down each aspect of your business into smaller pieces. You can then consider how you can express those pieces through language. For example, “We offer low prices because low prices make us more competitive with other businesses in our industry who also offer low prices.
5. Identify your target audience.
Know the demographics of your target audience (age, income, gender). What is their education level? Where do they hang out online? Do they have a specific interest in one product or another?
Can you offer something new to them that would make them interested in buying from you instead of another company or person who advertises similar products as yours? And if so, do you have as much experience or knowledge about marketing yourselves properly?
Once you have identified your target audience, you must find out where they hang out online. Then, join the same social media platforms that your audience uses so that you can engage with them directly and build relationships.
You don’t want just to broadcast messages about your products or services. Instead, try engaging people in conversations about what they like and don’t like about the products they’ve used in the past. How can you make a connection with them?
You need to think about how you can reach them. What social media platforms do they use? Are there tools to help get your message across better than just posting on Facebook or Instagram alone?
Social media is a great way to build relationships with your target audience. You can create threads that keep people interested in what you have to say. Besides, you can provide them with information they might not find anywhere else.
6. Identify partners and potential collaborators.
When looking for partners and collaborators, it’s good practice to think about “who can help us?” rather than “who is already working with us?” Your goal should be finding people who are interested in your brand and want to work with you.
Partnerships are a great way to build a strong business foundation. They can help with marketing and product development, sales, distribution, and customer service—the list goes on!
Partnerships also allow companies access to funding sources or other resources that may not be available if they operate alone.
For example, an advertising agency may have more experience than you do in creating ads. Besides, a retail chain could offer additional services to make it easier for customers to find what they’re looking for when shopping online.
7. Decide on your brand creatives.
Your brand creative is the visual representation of your company and its products. It can be an image, a video, or even a slogan. These visual representations aim to inspire customers to buy from you because they like what you stand for.
Brand creatives should be consistent across all channels (print, web, social media). This lets people know where they can find them when searching for ways to learn more about your business.
For example: if I’m going into a store looking at shoes online but don’t see any images representing the product line—the website isn’t helping me understand what kind of shoes are available there!
Ensure that marketing materials make sense and are easy enough for non-marketing folks who don’t understand marketing jargon. Let them know how important it is when deciding whether or not they want something new/different at home every day.
8. Choose a marketing channel.
Choose a marketing channel that is relevant to your target audience.
Many marketing channels are available, but it’s important to choose the right one for you. If you’re unsure which channel will work best for your business, try out some different ones and see what resonates with potential customers.
Social media might be more effective than email. Why? Because social media users are more likely to share their experiences with friends and family members who live near them, they have an easier time making purchasing decisions based on those experiences.
9. Select a strategy and budget for each channel
Once you’ve identified the channels and audience, you’ll have to decide how much money to spend on each one.
There are other factors to consider when estimating the budget for your next campaign. For example, if you plan on using paid social media ads in addition to organic posts, then you will need more money than if you only relied on organic content and word-of-mouth marketing tactics.
You also need to consider how many people will be involved in creating and distributing content for this campaign; the more people there are, the higher your costs will be. This is just a rough estimate, of course. The actual amount available monthly will vary from what we expect and depends on how many people are in-house at any given time.
But this should give you a general idea of when you can expect to be able to take on new projects—and how much money will be available for them!
As you can see, budgeting is a crucial part of planning. It helps you understand how much money will be available for your campaign, what it will cost to run each aspect, and when those costs are due.
10. Analyze Results
Once you’ve done the hard work and created a great marketing strategy, it’s time to measure results.
A good way to gauge the success of your campaign is by measuring measurable outcomes. For example, if you’re trying to sell more books online, one way would be to track sales and revenue from online book sales over time. Other examples would include:
How many people have signed up for email updates? Was there an increase in subscribers after the launch?
What was the bounce rate on landing pages; Did it go down as expected or stay high (or even increase)?
You should also ensure that you’re measuring things that matter—not just any old metric will do!
For example, “How often did someone visit our homepage yesterday?” Unfortunately, it isn’t very helpful because there could be multiple reasons someone visits your website (e-commerce site?). For example, they may have looked at other websites while browsing yours.