Marketing Strategy: Development Stages

A professional marketing approach is extremely important not only for large corporations, but also for small and medium-sized businesses. It is a competent development strategy that takes into account direct and native advertising, PR promotion, with a clear setting of goals, a phased plan for their achievement and a focus on specific results will help to move faster and reach new peaks.

The concept of marketing strategy
The marketing strategy combines several key concepts: these are many tools for achieving business development goals and, ultimately, increasing profits and, as a result, reputational bonuses for the company.

Depending on the type and goals of your business, the strategy can be medium- and long-term, set completely different goals – from narrow to global. But an always well-designed marketing strategy will help identify key indicators:
  • peculiarities of the target market;
  • strengths and weaknesses compared to competitors
  • find a unique position of the company and stand out in the market;
  • understand the most effective channels of promotion for you;
  • earn more and recoup investments in marketing and advertising.

The first step is to analyze competitors and identify TA (Target audience)
You will be able to move forward with very little probability without understanding the trends and market sentiment, the niche in which you work, as well as knowledge of the weak and winning qualities of the main competitors. Technically, in our time, this is not difficult at all – having specialists, access to Internet tools and special electronic programs.

For example, in e-commerce, your company will have to compete with large sites and marketplaces. The level of competition in this area is extremely high, so you need to study the sales sites, the frequency of requests and the price of each lead, determine the unique qualities of the product, or the conditions and approaches to sale. You have to learn to stand out!

Next, an analysis of business rivals is required – those who work and hear in your niche. For example, modern Ahrefs or Serpstat resources will help to analyze their representation on the Internet.

The main sources of traffic, the frequency of unique calls, the time and cost of orders – it is worth taking into account many factors. You will be able to determine where and how effectively to attract a new audience who will be interested in buying and advising your product to others. It is worth noting that now, during the boom of social networks, even Facebook advertising tools will help you with this.

It is also very important to identify the target audience. Age, profession, habits, interests and tastes, marital status, activity in life – all this and will not only help to make an avatar of a potential buyer or client. As an example of a target audience for a garden equipment store: a man of 35-55 years old, an active gardener, the owner of a house or summer cottage with a garden territory, a middle manager with a stable average income, married, two children, wants to create comfort for the family and is ready to buy high-quality things for life. For such a client, value for money, profitable offers, manufacturers with experience are important. That is, by defining the CA, it will be easier for you to promote the product to the audience for which it is really interesting.

Define tasks and goals
First, financial. You must clearly work out ways to achieve the financial goals of each of the launched marketing campaigns. Clearly determine the amounts, calculate the percentages, derive the ratio – so it will be easier to achieve what you want.

Secondly, determine the level and number of sales that will help achieve the above goal. Literally up to tens and hundreds, calculate the desired profit, divide by the number of sales and the average amount of the check to understand: how much and how often you need to sell to achieve the financial goal.

Thirdly, understand the channels for attracting the right number of customers. Here, use the calculation of traffic conversion rates and quality leads. Ideally, rely on historical data, although you can use average indicators in the field of a particular business.

All these stages will help to form and adjust the marketing strategy with specified data.
Don’t forget about promotion channels
From paid (direct advertising, Internet tools for promotion, SEO promotion) to organic (real information feeds for media and audience interest, e-mail, etc.). These channels are worth separating, planning different implementation time frames, funding.

A strategy is very important for each stage of promotion, because you can act on different audiences, from different sources, attract an audience of different ages and platforms. First, based on “classics” – work out advertising channels for CA, which you rely on. But do not forget about the need to experiment, try new things, enter from unexpected positions – this will help you find new ways of development and enter the field of competitors.

Analyze results and draw conclusions
A very responsible stage. From Google Analytics to Real-World Increase in Quality Leads and Financial Bonuses, make the most of your marketing and advertising campaigns. You can identify the most efficient channels and discard unnecessary ones, feel the needs of the market and CA, scale!
A successful marketing strategy will take your business to new heights, help you develop in the right direction, respond quickly to market fluctuations and protect yourself from risks.
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