Developing an effective marketing strategy is one of the most important steps towards helping your company grow. Even though it might not seem obvious, it is well worth the time and effort to build this important foundation. There are many reasons why this is important, and we've chosen a few to highlight in this post.
1. It helps you understand your target customer
Understanding, connecting with, and delighting your client base can be a difficult task. Alleviating some of that stress can be easy if you have a winning strategy.
Outlined in the strategy should be research on:
- Your current customers
- Your ideal customer
- What problems they have and the solutions you have for those problems
- How your ideal customer can be reached
We often summarize this information in the form of buyer personas - giving these personas a name and thinking of them as real people who we can refer back to when evaluating marketing tactics. This information is key to making sure your objectives and goals for your business and marketing are properly aligned with your strategy.
2. It is a foundation for all marketing activity
The information contained in a marketing strategy is a strong foundation to support not only the marketing campaigns, but the company branding and personality. What does this mean for you? It means that every individual who works on campaigns will be aligned in their understand how the company should be interacting with its customers.
Why is this important?
- Not everyone has the same style or idea of how a company should be portrayed
- When there is a change in staff, the strategy can be easily communicated with the new staff member
- You can share this information with external vendors (like agencies) to help craft effective campaigns
3. It gives focus and direction to all aspects of your business
With a winning marketing strategy, giving the business direction is like reading an instruction manual, simple and easy to understand (if it is well-written, of course).
This will save
- and effort while leading any and all business efforts.
There are no shortages of strategic options available to you. Just think of how many social networking platforms there are and how new ones are popping up daily. A winning marketing strategy helps you remain focused on your customers and solving their problems in ways that provide value to them.
4. It improves your marketing message
It is extremely important to have a solid marketing strategy to ensure consistent and strategic marketing messaging. When you communicate with current or potential customers, you want your message to be well understood and received.
Not only does a winning strategy provide a base framework for how to interact with your audience, it would also be tailored to attract your ideal customer. This means that there should be no guesswork as to if a message will be received positively or negatively.
5. It will help differentiate you from your competitors
Every successful marketing strategy needs to have a competitive analysis. This analysis helps determine what your competitors are doing, the market share distribution in your industry, and what makes you different from your competitors. This last piece of information is the center of all communication, branding, and business strategy.
What defines you is the reason(s) customers should choose you over others, and the reason you will convert leads and/or visits into sales.
With every great marketing strategy comes great responsibility. The responsibility to adhere to it, to continually improve it, and to continue building profitable relationships with your customers.
Do you need help with your marketing strategy?
We've been helping brands just like yours for over 20 years create and improve their marketing strategies.
Let us know if there is anything we can do for you.