Creating a great marketing strategy isn’t rocket science, as long as you have a brilliant understanding of 3 things; the customer you are marketing to, the promise you are making them, and finally, the numbers, how much you can spend to get a customer.
Understanding who your target audience is and what they need and want is critical to creating an effective marketing strategy. There are a number of exercises to draw out your key audiences and what their wants and desires are. From creating customer personas and avatars to workshop exercises such as Know, Feel and Do.
What do you want to achieve with your marketing efforts? It could be increasing brand awareness, generating leads, or boosting sales. Having specific, measurable goals will help you track your progress and make course corrections as needed.
A SWOT analysis is a tool that helps you identify your strengths, weaknesses, opportunities, and threats. Understanding your current position will help you make informed decisions about your marketing strategy. The would urge all of our clients to do a SWOT analysis at the end or beginning of each year. It really does draw out all the good and bad stuff for a business.
Understanding your competitors’ strengths and weaknesses will help you differentiate yourself and create a unique value proposition. Sign up for their newsletters, download their brochures, and call them up. Find out what they’re up to and how you can do it better. Also, look at the best in class in your industry and apply the processes to your business. No one ever went backward learning from leaders in the field.
Knowing how much you have to spend will help you make informed decisions about the tactics you use to reach your target audience and achieve your marketing goals. This is where a lot of businesses go wrong. You need to work out how much you can spend to get a customer. Use our calculator to do this.
Based on your research and goals, choose the marketing channels that will reach your target audience most effectively. This could include social media, email marketing, content marketing, influencer marketing, or paid advertising. You may need to do a bit of trial and error on this to work out where your customers like to hang out and feel comfortable engaging.
Plan out the content you’ll create and share on your marketing channels to ensure a consistent and cohesive message. This is really important. There will be more than one person helping deliver the marketing strategy so it’s important everyone is aware of their roles and responsibilities.
Regularly track your progress against your marketing goals and adjust your strategy as needed. This will help you continuously improve your results and maximise your return on investment. For example, you should now know how much you can spend to get a customer. This is an important indicator of how effective your marketing activity is. If you’re spending more, stop as you’re losing money, if you’re bringing customers in for the cost or better, for less, up the spend until your business is working a comfortable capacity.
By following these steps, you can create a comprehensive and effective marketing strategy that helps you reach your target audience and achieve your business goals.
Thanks for reading right to the end. We know you’re busy and we really respect your time so hopefully, the fact that you’ve got to here means that you’ve found it worthwhile.