Understanding the steps to achieve long-lasting achievable goals.
Lorelei Garnes, MSc., Digital Marketing Specialist
If you have a small business, making the most of your marketing spend is imperative when trying to grow a successful business. Marketing Planning and strategies can help yield the most favorable results affordably. Attracting new customers, retaining existing customers, building your influence, leveraging your resources effectively, creating a winning framework/strategy, and understanding your target audience are a few reasons to plan your marketing strategy.
Achieve substantial goals You can increase your odds of achieving your goals by creating SMART goals (Specific, Measurable, Relevant, and Timely). Using SMART goals as your guide, you can make the necessary steps to achieve long-lasting and achievable goals.
Gain competitive advantage Marketing should incorporate ideas that give you a competitive advantage over your rivals. Monitor the strategies of your competitors to see what they’re doing, and then you’ll have an idea about how you can offer a little more or feature some benefit that they’ve overlooked. Competitive advantage can give you a leg up on the competition and is worth including in your marketing plan.
Target your perfect customers A strong marketing strategy targets the individuals most likely to buy from you and appeals to the right customers. Target marketing has three stages: market segmentation, market targeting, and market positioning. These stages break down your customers into groups allowing for specific messaging, offerings, and relationship building.
Gain a greater ROI The best ROI (return on investment) is achieved by targeting the right audience, aligning your goals and activities with the mission/vision of the company, improving marketing performance, and saving time and money.
Marketing strategies include Place, Price, Product, Promotion, and People Remember the Five P’s, and you should be able to develop a sound marketing strategy that helps your company achieve its goals and objectives. By incorporating these essential elements into your marketing strategy, you will have the best chance at a successful campaign.
Ensure you have a strong plan A strong plan is one that offers the most in-demand products and services to the right audience, and to result in more sales, increased customer loyalty, and greater brand awareness. If you keep these tips in mind when developing your marketing strategy, you will be on your way to a successful campaign and a time of significant company growth.