How To Put Together A Profitable Marketing Strategy

DSM Digital School of Marketing - marketing strategy

Successful marketing begins with a well-considered, well-advised marketing strategy. A good marketing strategy assists you with defining your vision, mission and business goals. In addition, it outlines the steps which you need to take in order to achieve these goals.

Constructing a strong marketing strategy lies at the very foundation of any flourishing, competitive business. As terms can sometimes get mixed together, let’s firstly clarify what a ‘marketing strategy’ is. This term refers to an organisation’s overall game plan for attracting clients through the process of communicating the benefits of their business in addition to key differentiators.

It’s the big picture of the organisation’s vision which informs the marketing plan. It addresses the vital question: what tactics are you going to use to meet your goals as well as bring your marketing strategy to life? To assists you with building an excellent action plan. You firstly need to ensure that you’ve ticked all boxes when devising the marketing strategy.

Know Your Target Customer

The primary step in building your marketing strategy is to understand who it is that you’re marketing to as well as what their core drivers are. Doing this ensures that your marketing efforts are concentrated and that you’ll benefit by getting the return on investment which you’re after.

One a popular way to go about this is to create a buyer persona. Through creating effective buyer personas, you can be confident that you’re marketing to people who are genuinely interested in what you have to provide. If not, your marketing strategy is pretty much the equivalent of a man on a box shouting through a megaphone at random individuals on the street.

Think about what you’d like your perfect customer to look like. Begin by getting granular and build a list of demographics which your customer falls into. This includes:

  • Location,
  • Age,
  • Gender, and so forth.

But don’t stop there. You’re after a nuanced, in-depth picture of your customers (aim to know them better than they know themselves!)

Run A SWOT Analysis

Begin by running a SWOT analysis in order to recognise your business’ strengths, weaknesses, opportunities, and threats. It’s really a fun team exercise, which is vital to your planning process as it informs – in one way or another – all of your following steps. To avoid bias, as well as cover different perspectives, get as many colleagues as possible to make a contribution.

Having a clear view about what you’re best at, which areas you need to improve on as well as spotting the external factors which represent the inspiration for your business to exist or, on the other hand, factors which have the potential to put your business at risk, will prepare you with the correct tools to build a well-informed marketing strategy.

As your customers, market, as well as competitors, shift over time, your marketing plans should change and evolve as well. When you frequently examine and update your marketing strategy to meet both the needs of your organisation as well as those of your customers, your business will be able to continue to grow.

Putting together a profitable marketing strategy is just one of the cornerstones of achieving success in digital marketing.

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DSM Digital School of Marketing - Marketing Strategy