7 Easy Steps to Create an Amazing Marketing Strategy
Marketing Strategy
India’s advertising industry is expected to reach ₹10,730 crores this year - a growth of more than 7%! But, whilst advertising is very important, it is just one component of the overall picture of building and growing your brand in today’s fast-paced market. The success of your brand is dependent on a more detailed marketing strategy.
The purpose of a marketing strategy is to help customers find you, engage with your brand, and purchase from you - whether you are new to the market or already well established.
Step 1: Do Market Research
Start by thoroughly understanding your target audience, competitors, and trends within your marketplace.
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Get to Know Your Audience: Use demographics (age, broad location, interests, buying habits) to build buyer personas.
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Track Trends: Follow what is happening in your industry. Use the news, social media, and events to stay current.
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Competitor Analysis: Look at competitors, analyse their products, pricing, and promotions. You can learn from competitors what does and doesn’t work.
Market research is the foundation for creating your marketing strategy!
Step 2: Set Relevant Marketing Goals
Goals should serve as guidance for your marketing strategy and complement your business objectives.
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Use SMART Goals: Specific, Measurable, Achievable, Relevant, and Time-bound.
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Example: Increase traffic while increasing 25% in 6 Months. Gain 500 leads from Instagram.
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Prioritize: Choose goals that have a high impact on your business.
A marketing strategy will include goals that are easily measured and can be achieved.
Step 3: Define Your Unique Selling Proposition (USP)
Your USP informs people why they should buy from you vs. someone else.
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You will want to communicate what is unique about your products or services.
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Use simple and straight-forward language that your audience will comprehend.
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You may want to write a single sentence with the most compelling version of your value.
A strong USP builds credibility and supports your entire marketing strategy.
Step 4: Choose Channels Relevant to Your Audience
Choose channels where your audience is likely spending their time.
Online Channels:
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Social Media: LinkedIn, Instagram, Facebook
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Email: Campaigns, newsletters
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SEO & PPC: Increase search rankings and visibility
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Content: Blogs, video, and podcasts
Offline Channels:
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Print: Newspapers, magazines
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In-person Events: Trade shows, local fairs
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Direct Mail: Invitations or promotions
There are many options; having a strong mix of channels can make your marketing strategy successful.
Step 5: Develop a Content Strategy
Everything you do is going to be based on content.
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You will need to plan your content, whether it be blogs, reels, webinars, or podcasts.
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You will want to schedule your content in a calendar to remain consistent.
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You will want to measure your performance and adjust as needed regularly.
Excellent marketing content provides high value to the audience it intends to reach. Good marketing content informs, entertains, pays attention to emotion, and encourages an audience relationship.
Step 6: Monitor and Continuously Optimize
Your marketing strategy should never remain stagnant!
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Use: Google Analytics, Meta Suite
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Keep track of: Traffic and leads and conversions
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Change: money or campaigns
Keeping your marketing strategy up to date allows you to monitor the competition and stay apace with the curve.
Step 7: Keep it Fluid
Markets change and your marketing strategy needs to change with it.
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Always keep a backup plan, like Plan B and Plan C in case something doesn't work.
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Adapting to new market trends is easy as marketers if we are proactive (like Zomato did with COVID-19).
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Always keep an eye on the market and be prepared to adapt on the fly with our own marketing efforts.
Conclusion
Designing a great marketing plan means being agile and catering to what the market requires instead of producing the perfect document or format. There is a saying in marketing, "failed to plan, plan to fail."
If you have gone through contradictory, frequent solid research, you have implemented SMART goals and within that plan defined a clear unique selling proposition, within the right marketing mix, with excellent content, with no less than a weekly performance checking schedule, you have the opportunity for your marketing strategy to be part of a sustainable but scalable growth strategy.
Be adaptable, stay on a few things that matter, learn. That's how we excel in marketing!
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