We know by now you’ve probably become a dab-hand at social media. You might know everything there is to know about SEO and PPC, you might even be able to paint a city with your brand colours, but none of this is much good without marketing strategy.
Often overlooked and inevitably regretted, marketing strategy is exactly what it says on the tin. It’s the where’s, when’s and how’s of marketing your brand. We would not advise a company to take the plunge into the marketing world without a strategy, without forethought, and without knowledge. In this blog, we will breakdown the importance of marketing strategy for you and your business.
What is a marketing strategy? 🛒
Marketing strategy is in its purest form is a plan devised to sell your product or service to the mass market. It includes everything from who you want to target to where geographically you want to focus, from budget to potential return on investment and everything else in between. We know, you imagine the boardroom arguments and the endless sandwich platters, but trust us, it’s worth it in the end.
Nobody wants to miss opportunities… 😥
A good marketing strategy should always be flexible and malleable. Why? Because no matter how many marketing gurus you gather in one room, it’s unlikely that you are going to acknowledge every opportunity for your business, due to a lack of future consumer knowledge. If we lived in a society of robots, you could predict our every move, but humans are pretty strange, and that means unpredictable behaviours may lead to new opportunities. For example, did anyone see the Pokemon brand returning with Pokemon Go when the company was founded in the mid-nineties? Expect the unexpected.
Bumps in the road 🚗
The beauty of a good marketing strategy is that it can prepare you for the worst. When all is said and done, every one of us wants to be successful in business, but it isn’t easy. Knowing what to expect further down your journey can help relieve the stress when bumps do occur.
Who is going to buy your product? 💰
It may sound like something you have all figured out, but a strong marketing strategy will help you think on a much deeper level about your demographic. It isn’t just knowing your targets but understanding their behaviour and how to sell to them specifically. If you are selling a clothing brand aimed at 18-30s your aesthetic and product placement will be different to selling to the 50+ market.
Most importantly, is it all worth it? 🤔
Marketing strategy, when constructed correctly, will answer the most critical question of all, is this actually worth it? We see time and time again, new business owners have jumped into something because it means a lot sentimentally. This is a hazardous situation. There have been obscene amounts of money in the past thrown at failed businesses, and there will be plenty more in the future, don’t let that be you. As the old saying goes, fail to prepare, prepare to fail.
What should be in my marketing strategy? 💡
How long is a piece of string? Honestly, there are hundreds of variables you could choose to include in your strategy; here are the things we suggest:
Goals – What do you want from this project? To spread a message, make a statement, make money etc.
Market research – What is the demographic of your audience? What are they buying currently? Do they actually like your product? What channels will you use to target them?
What is your message? – What do you want to say about you and your businesses? And where do you want to say it? Billboards, newspapers, blogs etc.
Dates – When will each job be done by and who is doing it?
Budgets and ROI – How much do you have to spend? How much will each stream cost? Importantly, how much do you expect back from each stream?
SWOT – An analysis of your strengths, weaknesses, opportunities and threats.
What if I don’t have a marketing strategy? 😟
Let’s relax and breathe. Sometimes people do choose to dive straight in at the deep end, and we understand that having an idea in your mind for a prolonged period can make us dive in as soon as possible. So here’s the thing, every business is only as good as its marketing strategy, and without one, you’ll set yourself up for a fall in one way or another.
The beauty is it’s never too late to put the hours into developing your strategy. Although you may have wasted some money initially on marketing and attempting to sell in the wrong place or to the wrong people. As long as you are happy to move forwards a marketing agency will be able to help.
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At Create8, we love the idea of a new challenge. We can help you rectify those early business mistakes and jitters and get you back on the road to marketing success.
If you are looking for help devising your marketing strategy or you have a strategy which doesn’t seem to be working get in touch with us today and allow us to be the agency for all of your marketing needs.
