Why you need a marketing strategy
Do you even need to know how to create a marketing strategy? After all, many successful businesses are built by entrepreneurs who hustle and grind to make things work.
They bootstrap businesses from their garage, figuring out a marketing strategy on the fly and praying that their latest marketing hack will bring them the sustainable and exponential growth they are seeking.
But is it the best way to go? Probably not!
Success in your business is too important to leave to hope and chance. And the evidence is clear; better planning brings greatly improved results. Research from Co-Schedule shows that organized marketers are 674% more likely to report success.
Yep, you increase your chances of success nearly seven times over, simply by creating an organized marketing strategy. In terms of bang for your buck, that’s the best return on investment you are likely to get…ever.
So to set yourself on the road to outstanding results, you need to create a marketing strategy. In this article, I’ll explain precisely how to do that, step by step.
What is a marketing strategy?
A marketing strategy is a detailed plan that helps you increase awareness of your products and services, with the goal of increasing sales. It’s your overall game plan to reach prospective customers, show them what you have to offer—and persuade them to buy.
Your strategy could be as simple as an advertising campaign focused on one media platform, such as Facebook. Or it could be a multi-channel plan that embraces different types of promotion, media, and geographical areas.
How to create your marketing strategy
The idea of creating a marketing strategy may seem a little daunting. But when you have a process to follow, it can be straightforward.
And if you need expert assistance, that’s easy to arrange. For example, many of the marketing partners I work with regularly help businesses plan effectively. Their consultants will arrange a one-hour discovery call with you, then analyze your company in depth.
Based on their findings, they’ll then create a marketing strategy designed to capitalize on your strengths and opportunities. And to make all of that happen, all you need to do is get in touch.
Alternatively, just follow the steps below to create a professional marketing strategy yourself:
1. Decide on your objectives
The first step is perhaps the most important one. Your marketing campaigns will never succeed unless you clearly define your target.
It’s not enough to say, ‘I want more sales.’ You need to define SMART goals
2. Identify your audience
A big part of your success depends on understanding the people you plan to sell to. Research your market by visiting places where your prospects hang out online. This may be in forums, Facebook groups, or sub-Reddits.
These are a goldmine of information, where people reveal their pain points, frustrations, hopes, and ambitions. Dig deep to understand what truly motivates them—and what kind of solution they are hoping to find.
3. Create your customer avatars
Having completed your audience research, you are then primed to create your customer avatars. These are profiles of imaginary people who are an exact fit for your product or service.
The more detailed you are in drawing your avatars, the better your results. You need to understand their age, sex, and other demographics, plus how they think and feel. What are they seeking…and how can you help?
Having built strong avatars, you will find it much easier to create your marketing campaigns further down the track.
4. Research your competitors
No business exists in a vacuum, so you will obviously have competition in your market. It’s essential to understand how your offer compares to what’s available right now. Only then can you position your product or service to stand out from the crowd.
Nowadays, it’s easy to research competitors by checking out their websites or their listings on marketplaces such as Amazon FBA. You can also use spy software to find out what ads they are running,
5. Define your USP
Armed with all the collected data, you can now define your Unique Selling Proposition (USP). This is a statement showing what separates your offer from competitors.
If you just have another ‘me too’ product, it’s hard to get noticed in a crowded market. You must establish why people should buy from you rather than from competitors.
6. Confirm your budget
Whichever way you approach it, marketing costs money. You may need to buy advertising or hire agencies to help with tasks such as search engine optimization.
Research the likely costs carefully, then create a realistic budget that includes all the expenses you will incur. Remember to include ancillary charges such as design, print, and agency commissions.
This is where I can add real value. Since I work with many different marketing agencies, I have insights into the different types of budgets required for projects. As a result, I can help you get the right services at the right price.
7. Outline your team
Whether you handle your campaigns in-house or bring in external consultants, you will need people to get things done. Marketing is a complex process with lots of moving parts, requiring expertise at every step of the way.
Calculate which specialists you will need to execute your campaigns and decide how you will hire them. Remember, the quality of the people you hire will have a decisive impact on results, so don’t be tempted to cut corners. You need true professionals!
Learn about the best marketing agencies we find.
I vet hundreds of agencies and share which ones are unique and do things well. Plus valuable marketing information. Don’t miss out.
8. Select your marketing channels
With all of the preparation work done, you are now in a position to choose your marketing channels. You have many options here.
You can go with online marketing, aiming to reach people through social media, search engines, or other online avenues. There is certainly the potential to reach almost any audience through the Internet.
But you can also do well with more traditional marketing channels, such as newspapers, magazines, and radio. Direct mail, for example, is seeing a resurgence now that there is less competition to get into physical mailboxes.
9. Design your sales funnel
Having nailed down your marketing channels, you need a viable sales funnel. This is a sequence of steps that prospects will go through on their journey to a purchase. A simple sales funnel might be:
Facebook ad > landing page > appointment > sale
Marketing guru Russell Brunson says you are just ‘one good sales funnel away’ from unstoppable success, so it makes sense to work hard on this
10. Plan your execution
Sadly, many marketing campaigns fall at the last hurdle due to poor implementation. You need to avert this potential disaster by building good execution into your strategy.
When you have the right plan and execute it professionally, there’s no limit to how far you can go. You can scale your campaigns to the moon and grow your business to a whole new level.
Kickstart your marketing strategy today
If you know how to create a marketing strategy, you undoubtedly have success at your fingertips. And by following the 10 steps outlined above, you will put yourself ahead of the game.
But as we’ve discussed, this is not an area where you can afford to take chances. With so much on the line, it makes sense to call in professional help.
That’s where I can help. As a marketing specialist, I regularly work with growing companies that need a little help fulfilling their potential. If that sounds like you, I’m ready to help. Get in touch today, so we can discuss how to create a marketing strategy for your business.
Working together, we can accomplish amazing things. When you look back a year from now, who knows how much you will have achieved!