Why Do You Need A Marketing Strategy For Your Business?

A marketing strategy is your essential guide in terms of promoting and growing your business. From day one, the efficacy of your marketing activities has a massive impact on your bottom line.  Your marketing strategy is the engine which drives your sales. So, to make the most of it you need a solid plan of action. It takes careful planning, research as well as a comprehensive understanding of the marketplace to develop a strategy that will ensure the success of your business.

Growing a business is far from easy:

• First, you need a workable idea.
• From there, you need to find a profitable niche, define a target demographic and also have something of value to sell them.

Whether you’re selling products, services or information, getting the word out has become increasingly challenging. And without the correct marketing strategies to fuel your growth, turning a profit and staying afloat is practically impossible.

The Difficulty Of Identifying The Right Marketing Strategies

However, identifying the correct strategies in order to market your business is frequently likened to rocket science:

• How do you get your messages to the correct audience and do it effectively?
• How do you increase visibility and boost sales while maintaining a profit with a converting offer?

Today, with so much jostling for our attention from social media, to search engine optimisation, blogging and pay-per-click advertising, it’s very easy to see why most are eager to pull their hair out.

The harsh truth is that what got you to this point in business will probably not get you to the next level. If you’re feeling stuck, join the fray. Most entrepreneurs are so busy working “in” their businesses that they fail to work “on” their businesses.

As a result of dealing with the day-to-day operations of a company that includes customer handholding, supply-chain demands and more, we often neglect to wield the right marketing strategies that will help fuel our business’s growth.

Where To Start

A common challenge is where to begin when drawing up your marketing strategy. There is a fear that a huge report is required, however lean planning works best. Your marketing strategy doesn’t need to be a huge report, a strategy can best be summarised in two or three sides of A4 in a table linking digital marketing strategies to SMART objectives.

The first step is to create a separate marketing strategy. This is very useful in order to get agreement and buy-in by showing the opportunities as well as problems. At this stage, you are able to map out a path by setting goals and particular strategies for digital.

After this, digital becomes integrated into marketing strategy. It’s a core activity, “business-as-usual”. However, it doesn’t warrant separate planning, except for the tactics. This is the stage at which your integrated omnichannel marketing will be the most effective.

Get in touch with the Digital School of Marketing

Do you want to learn more about developing a marketing strategy? If you do then you need to do our Marketing Strategy Course. Follow this link to find out more.