Forming a great marketing strategy is important for every business. Without a good strategy you will find yourself struggling to form relationships and stagnate when you should grow.
Making sure that your business provides relevant products or necessary services that match your customers needs and developing long-term, profitable relationships with those customers is your first and foremost concern. You will need to formulate a strategy that can remain dynamic. Nothing too strict, or you will find yourself unable to respond to changes when they occur.
A marketing strategy is meant to explain the benefits of your business to your targeted consumers.
After carefully designing a strategy, it’s not something we just fire and forget about. You need to pay attention to it, monitor it, note its effectiveness and make whatever changes you need to improve its impact.
Today I am writing to help you find which customers you should spend the extra energy to focus on and also we will lay out a few steps to connecting with them. We will go over what fits into a strategy and how it’s used.
Key points of a well-formed strategy
A great strategy starts with the idea that your current and future customers will all fit into common groups. We can characterize these groups by looking at common “needs”. Identifying these shared commonalities through market research. Focusing on them and providing for them will set you apart from the competition. This should be the overall sweeping focus of all of your strategy.
Find your strengths and match them to your customers needs. If for instance you know that a group of your customers identifies superior workmanship as their key motivation for purchasing, then the best way to market to them should be to draw attention to the workmanship and quality your business provides. Any marketing campaign or advertising that targets that particular group needs to address those individuals preference for a higher quality of product.
Next, decide on the best way to ensure that your target market knows about the products or services you offer and showcase why you specifically meet their needs.
Monitoring and evaluating your strategy to see its effectiveness, is key at this juncture, and too often it’s left out or forgotten about. The absolutely simplest way to do that is to just ask new customers how they heard of you.
Once you finally decide to pull the trigger and take action on your new strategy, draw up a plan and don’t forget to include how you intend to evaluate your success! Continue to review your plan and its impact and be willing to change it whenever necessary. Your customers will change and their attitudes can shift. Be ready and be able to change with them! The overall climate of the market will ultimately be your guide.
Follow us and be sure to check back soon for the second part in the series “How do we understand our strengths and our weaknesses?”