Marketing Strategy – Clearly-Defined Goals

A business company, whether selling socks or heavy equipments, must have its own marketing strategy. Despite the influx of so many new marketing tools today, business owners big and small would need to know where and how to get started. This is especially true for newcomers.

The strategy for marketing is to keep you and your business running in circles and achieving nothing if you try everything all at once with these tools. For the small businessman, a clear marketing plan will put your business on a clear path to winning. At the very least, you have the road map for doing it.

For the strategies to work and be effective, on the other hand, you need to clearly have both your defined goals and objectives and the plan to implement them all mapped out in details to the best of your abilities.

However, you need to first decide what you want to do with your marketing tactics. Here are some examples of marketing strategies and tactics to guide you to implement yours.

Targeted strategy

Marketing to your customers directly will definitely help you determine the marketing strategies you are going to give your business the most effective means in reaching your marketing goals.

For direct targets, you need to have the answers to some of the pertinent questions which only you can give the correct answers. The first question is: Who is your target audience? If you don’t know the answer, you might as well not be in business.

The same attitude is true to the second question: what are you selling to them? If you are clueless to this, go home and watch TV. The 3^rd question needs some serious and true answers which only you can give because it is your product (or service).

Outbound strategy

An outbound marketing plan would require your team to actively pursue customers interested in what your business has to offer. Examples of outbound marketing tactics would include cold calling, direct mail campaigns which involves many things.

Online, you would have to employ email marketing blasts where the receiver has not opted in. the other tactics also include door-to-door canvassing residential and business properties.

Inbound strategy

Employing inbound marketing tactics would have you attract a person to your brand by putting the content in front of them relevant to what they are looking for (and which your business can provide).

This makes them more likely to become customers. This strategy is cost effective and fits well with small business.

Examples of this would include SEO (search engine optimization), social media (Facebook, Twitter, and LinkedIn), creating brand awareness (how-to videos, video ads) Google Adwords and PPC (paid choices), blogging and eBooks.  Most of these are budget-friendly and user-friendly as well.

After you have a firm grasp of who your business is targeting and how you want to do it, the next step is to choose the right Brisbane marketing strategy in the implementation of all of these. Be sure to follow everything only based on your budget for marketing operations. A Brisbane marketing strategy is only as good as its capacities in the creative side and in the practical side of budget.

Marketing Strategy – Important Components

In simple basic terms, a marketing strategy is that particular section of one’s business plan that outlines the overall plan of action to find the clients and the customers. The focus is on what you want to achieve for your business. This is then laid out in details in the marketing plan. 

In concrete terms, this is planning, formulating, and building a well-defined approach to achieve the goals and objectives of the business.

The components of these would be to accomplish higher sales, increase the revenue generation for the company, and retain the loyal base of customers while attracting the new set of customers.  All these would all aim to gain a competitive advantage in the market among the others.

Competitive advantage

The foremost importance of the strategy is to help the company gain a decisive advantage in the market.  The aim is to have an edge over the existing players (and new entrants), all of whom also want to make a presence in the market.

Included in the strategy would be the unique selling propositions (USP) of the brand with its associated benefits and features of the products (and services) offered. This will be done in a creative, strategic and planned manner that highlights the brand.  

Branding

A strong and powerful strategy will help establish the brand in the consumer’s minds as a distinctly unique and strong product (or service) that can stand on its own among the many others in market niche it belongs. 

One of the main fundamentals of a strategy in marketing is to highlight and promote the attributes and the other strong qualities of the brand and its overall USP features.

Budget

The right provision of the budget needed in the implementation of the marketing plan needs to be defined first and very clearly in the strategy. The purpose is to keep the budget as planned with no under or over spending in any manner.

The strategy also plans out the allotted expenses on all aspects of the marketing agenda, all the way from concept to implementation. The budget is important because it provides the scope of the expenses and the levels of the expenditures.

Distribution

Once the strategy is set and laid out, management will be able to lay out the distribution scope as well. An effective distribution is one key to the success in the dissemination of the product to the customers.

With the advent of online selling these days, the distribution plan needs a well-defined strategy to map out its product releases in the right areas at the right time. The plan will be able to define the extent of the network needed.

Price

With research and studies on the market dynamics alongside the spending habits (and spending capacities) of the target market, a well wrought-out strategy can help the company. This holds true in arriving at an optimal pricing plan for its products.

The main yardstick is the current overall market confluence of competition and the company’s goals in generating higher sales and profits.  This is one significant point in the importance of marketing strategy for a company.