Why do you need a Marketing Strategy?
A great marketing strategy defines who you are and how you do business. It outlines the who, what, why and how for driving customers and sales as well as identifying the metrics that you use to determine success. After all, if you are spending money on marketing, then you want to be sure you are getting a return on your investment.
Strategies vs Plans
A marketing strategy is not the same as a marketing plan. A marketing strategy defines your goals and the ways you can achieve them but doesn’t go into the specifics for executing as a marketing plan does.
Your plan is more like a roadmap that steps out how you are going to execute on your strategy. It will include things like your budgets, calendars and deadlines.
Create your strategy first, then your plan, then execute them.
When should you create a Marketing Strategy?
Your marketing strategy should be created before you even start your business, however, it’s never too late to start. We have designed this step by step guide to help you out.
How to create a Marketing Strategy
Your brand is like flavouring for your marketing. It should permeate through the rest of your strategy and influence the look, feel and tone of your marketing.
Hot Tip: If you already have a business strategy then you should find most of the information you need in there!
What is your brand name, and the meaning behind it?
Some brands are created from acronyms and others from the names of people or products. What is the meaning behind your brand name, and does that influence how you do business?
What is the purpose of your brand?
Try to sum up the mission & objectives of your business. Make sure to include who your ideal audience is, what your business has to offer, as well as how they benefit from your product.
What is your value proposition?
For each of your business objectives, what is the value proposition that you offer that will help you achieve that objective? What is it about the product that sets you apart from your competition?
After all, Australian’s wouldn’t give a XXXX about anything else…
Now that you know what you are selling, and how you want to sell it, now think about who it is that you are going to sell it to.
Think about your core audience. The better you know your target audience, the better you will be able to service them, target them, and give them what they want.
Narrow it down to 4 or 5 characters, and think about their demographics:
For each audience type, what are their life goals and how does your product fit into those goals?
Different demographics use different technologies. Define the technologies that your audiences use, because that is going to be how you reach them.
You have everything you need to know about your business and your customers, now you can put it all together into a strategy. Break each audience type in to separate columns and determine which business goals they will help you fulfil.
Then, define what technology you will use to reach that audience, and what your messaging will be that will resonate with them.
While you are at it, set some targets, and the metrics you will use to determine if you have reached them.
Hey presto, there you have it! Now get to work growing your business!
Get our Digital Marketing Strategy Template
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NewyMedia creates digital marketing strategies for a wide range of customers and industries. The premise is always the same, define who you are and what you do, then define your audience, then define your strategy to reach that audience. It might sound easy, but it takes a lot of thought.
When we build a strategy, we hold a brainstorming session with your team and look to really get the creative juices flowing. If you would like us to help with your strategy then get in touch. You can contact us here, or sign up below to join our mailing list for more great tips and advice.