I’ve been creating marketing strategies for my clients for almost 20 years, and I’m often asked for advice about how to build a strong strategy. The truth is that there are no hard-and-fast rules about developing and executing a winning strategy.
There’s no set formula that always works, so you have to be willing to experiment and learn from your mistakes. However, if you follow these 14 tips, you’ll be on your way to becoming the company everyone wants to hire:
| Key Takeaways |
|---|
| 1. Understand the origin and evolution of marketing strategies. |
| 2. Learn from real-world experiences and case studies in marketing. |
| 3. Explore the significance of storytelling in crafting effective marketing strategies. |
| 4. Gain insights into the thought processes and decision-making behind successful marketing campaigns. |
| 5. Recognize the importance of adaptability and innovation in staying ahead in the competitive marketing landscape. |
Say “No” To Random Acts Of Marketing
I’m all for a little creative thinking, but it’s important not to get too sidetracked. For example, I was once asked by a client to develop an ad campaign that would target consumers who were likely to purchase his product.
I came up with some ideas and presented them to him, but he rejected them all because they weren’t what he imagined in his head. He then said he wanted me to just “do something different.”
That’s when I said no and got fired.
It was actually one of the best things that ever happened to my career: it forced me back into my office where I could focus on developing a strategy instead of trying random acts of marketing that didn’t fit into any kind of structured plan (like this article).
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Build Buzz Around Your Brand
When you’re building buzz around your brand, it’s important to have a few options in mind. Which method will you choose? Here are some examples:
Use social media to create a buzz. You can post and share content on Facebook, Twitter, and LinkedIn, using a hashtag to create conversations around the topic of your campaign. Alternatively, use contests and giveaways as ways for people to interact with your brand.
Create content that gets people talking about your product or service by creating memes or videos (and posting them on YouTube). This can be especially helpful if you have something funny that customers might find entertaining.
Create blogs and podcasts where industry experts talk about how they use products from specific companies so that people feel more connected with those companies.
Host webinars where industry experts answer questions about specific topics related to work culture in general so that potential customers feel more comfortable asking questions.
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Don’t Be Afraid To Test The Waters
The point of testing your ideas is to see if they’re going to work. This is why you should test them with a small group of people first, then ask for feedback on how it all went.
Then, once you know what works and what doesn’t, test the idea with a larger group of people. You may want to run some experiments here as well (for example: sending out coupons to different groups based on their location).
If you don’t have enough money to run these tests properly, try working with volunteers who are interested in helping out.
They’ll be motivated by the chance of getting free products or services that they might not normally be able to afford and will therefore provide honest feedback about whether or not something works!
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Be Likable And Trustworthy
Being likable and trustworthy is a key component of marketing strategy. When you’re being authentic, you’re more likely to build trust with your audience, which means they’ll be more likely to listen when you have something important to say.
Here’s how it works:
Be honest, transparent, and real. It’s important not to hide behind “marketing speak” or jargon that no one understands anyway instead, use simple language that everyone can understand and relate to in their way.
This will help others feel comfortable around you because they know what you’re saying makes sense!
Be consistent with your message across all channels (social media accounts, email inboxes, etc.) so people are seeing the same thing from different sources at different times this way there’s no confusion about what’s going on where/when, etc.
You can also use this tactic if someone asks about something specific like an event date or price point.
Which would then direct them back into other areas where those topics need further clarification as well. Think about ways people might ask questions commonly enough so those answers could appear across various channels too (like FAQs).
Know Who You Want To Reach And Where They Hang Out
The first step in creating a marketing strategy is knowing who you want to reach and where they hang out. The easiest way to do this is by researching your niche audience’s demographics, interests, location, online behavior, offline behavior, and buying habits.
For example: If I am selling dog treats online then my target demographic might include people who own dogs (duh) and have an interest in pet care (because they’re looking at dog treats).
From there we can deduce that they live in cities where dogs are allowed (not every city allows dogs so this might be important).
They could also be parents or just single people living alone with their pets; the point is that no matter what the person’s situation is we need to know it so we can tailor our message appropriately.
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Branding Is More Than Just A Logo And A Tagline
Branding is more than just a logo and tagline. It’s the promise you make to your customers, employees, and other stakeholders and it should be built on your company’s values.
The brand should also reflect how you want to be perceived in the marketplace. This can help you stand out from competitors who offer similar products or services.
You might think branding is just an exercise in creating pretty graphics, but it’s so much more than that: Branding is about connecting with people emotionally by telling them what makes your business unique and explaining why they should buy from you rather than someone else.
A well-designed marketing strategy can help solidify this connection by helping people understand what sets your company apart from its competitors and why they should care about buying from you instead of them.
Make Sure Your Marketing Strategy Map Matches Your Business Goals
One of the most important questions you can ask yourself when creating your marketing strategy is “What are my goals?”
Think about what you want to accomplish with your business. What results do you want to see? How will those results be measured and quantified? How much money do you need to make for this goal to be considered a success?
It’s also important to set aside time for these conversations with fellow employees, especially if their job descriptions require that they work closely with sales and marketing teams.
Decide How Much It Will Cost
You’ve decided what you want to sell, how many customers will buy it, and at what price. Now comes the hard part: figuring out how much it will cost.
Businesses often use the term “cost” when they mean something closer to “expense.” For example, if a business buys a new machine for its factory to increase production.
Then the money spent on that machine is an expense or cost not an investment in future revenue or profit. (Think about it this way: If that machine produced no value for anyone else but your company alone, would you still spend money on it?)
So there are different types of costs that businesses need to understand: product costs, period costs, and overhead expenses (or overhead).
Budget For The Unexpected
- Budget for the unexpected.
- Budget for your marketing plan.
- Budget for your team.
You should set achievable deadlines for your team members and hold them accountable.
Measure everything that matters, even if it’s not directly related to revenue or sales, like customer satisfaction and brand awareness.
The more data you have about what works (and doesn’t), the easier it will be to improve over time by making tweaks or pivoting when needed which is a surefire way to stay ahead of competitors who may be falling behind in their areas of business development and marketing strategy execution.
Determine what you don’t know about your customers so you can get to know them better: where they live; how old they are; whether they’re working full-time or part-time; which types of businesses they patronize; what websites they visit regularly etc.
Don’t forget that customer retention matters just as much as acquisition!
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Think Outside Of The Box When Setting Your Budget
As you begin to think about how much you can spend on your marketing strategy, it’s important to consider all of the options. Before making a decision, ask yourself:
- What is my budget?
- How much do I have available for this project?
- What are my other costs associated with running this event or campaign? You may not be able to afford every element at first that’s okay!
You don’t need everything right away. Start small and work your way up as time goes by.
If possible, try to find creative ways of saving money while still getting the job done right. For example, if there’s no room in your budget for a venue rental fee but you’re looking for an indoor space where people can gather after their event has concluded (so they won’t go home early).
Consider renting out an area inside another business instead of leasing an entire space yourself it might save you thousands!
Or maybe there are other options at hand that aren’t usual for events like yours such as using a company car instead of renting something more expensive than necessary (you’ll get reimbursed later).
Set Achievable Deadlines For Your Team Members And Hold Them Accountable
Make sure each task has an assigned deadline, and also determine when the project should be completed by in its entirety.
Next, decide on how long you want yourself and your team to have to complete their first draft of their respective sections;
This should be a reasonable amount of time based on how much work is required for the section in question, but not so much that it seems impossible or unreasonable (i.e., three months).
Finally, plan out when you’ll all meet for feedback sessions, revisions, and final drafts this can vary depending on how busy everyone’s schedules are!
Measure Everything That Matters
When it comes to measuring your marketing strategy, there are a few key metrics and KPIs that you should be tracking.
These can help you determine if your efforts are working and allow you to evaluate how much value each one brings in terms of sales, leads, customer satisfaction, and more.
Lead generation: How many quality leads do you get? What is the cost per lead? Are they qualified? How long does it take to close those leads?
Sales: You may want to consider including this metric as part of your overall KPI strategy. While some businesses are happy with just driving traffic and generating interest in their brand or products/services through other forms of digital marketing (blogging, social media).
Others may find themselves in a position where they need business-to-consumer sales or vice versa and so they want to know how well their digital campaign is performing here as well.
Determine What You Don’t Know About Your Customers So You Can Get To Know Them Better
Before you can even consider a marketing strategy, you need to define what it is that your business needs.
A marketing strategy isn’t just a collection of tricks and gimmicks; it’s an overarching concept that will help guide your decisions when creating content and determining where to spend your marketing dollars.
A well-defined strategy should be specific, but not too specific: It should be ambitious enough to motivate you but realistic enough that there’s a clear path forward. Below are some examples of tangible fitness goals you could achieve in 3-6 months:
Identify What Your Company Does Best, Then Leverage It
There are five key areas to pay attention to when developing your marketing strategy:
Strengths and weaknesses. This is the first step in determining what you do best, and where it makes sense for you to focus your efforts.
If you’ve been in business for a while, it’s likely that over time you’ve developed certain strengths that set you apart from other businesses in your field and perhaps even from other competitors with similar offerings.
For example, if one of your core competencies in customer service (which may also be one of their top priorities as well), then this can inform how much effort should be put into communicating with customers via social media or other mediums.
Opportunities and threats outside of the organization’s control that could affect its performance; current or potential changes within an industry (e.g., an innovation like artificial intelligence) might create opportunities outside those previously identified by top management; alternatively, they could threaten existing business models.
Customers: Who are they? What do they need/want? What do they value when making purchasing decisions? How can these needs/values help us sell products or services that help solve problems?
Competition: Who are our biggest competitors? Why do customers choose them over us? How can we gain a competitive advantage by focusing more on certain aspects than others during our marketing efforts (e.g., quality vs price)?
Market information about our target audience such as market size, growth trends, etc., helps us determine how many potential buyers there are out there who might want what we’re offering them.
Brand awareness refers specifically to how well-known certain brands are within certain markets among consumers who use those products regularly. Business performance metrics such as sales revenue growth rates
Listen To Feedback From Customers And Employees, Then Act On It
“Listening is a skill that’s hard to master, but it’s the most important one in business. You have to be able to hear the message clearly and see what you can do about it.”
As a marketing professional, your job is to find out what people want and then give it to them.
You need a strong understanding of who your customers are so that you can create strategies that meet their needs, from determining what content they’ll find valuable on social media platforms like Facebook and Twitter down to making sure their consumer experience stands out from competitors’.
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Put Together A Crisis Plan In Case Of Disaster Or Negative Publicity, Then Test It Against Real-Life Scenarios
When you put together a crisis plan, you’ll want to consider:
What happens if there’s a large-scale emergency or a natural disaster? What if the company is sued? How will we respond? How do we handle negative news coverage?
What resources would need to be available for us to execute our response plan effectively and efficiently (like extra people who have been trained in handling these kinds of situations)?
Once you’ve identified all the possible scenarios, test them out by creating hypothetical situations and running through them with your team.
If something does happen, make sure that everyone on your team has been aware of how they’re supposed to respond, so that it doesn’t come as too much of a shock when real-life events happen.
Then implement changes where necessary based on what did or didn’t go well during testing sessions.
Learn To Say No When A Client Is Not A Good Fit Or Too Risky To Work With — Even If It Means Losing Revenue In The Short Term
As a consultant, you will face situations where a client is not a good fit for your company. That can be for any number of reasons:
- They don’t value the work that we do, or they don’t want to pay the market rate.
- The project requires too much time, resources, or expertise.
- The client is difficult to work with or doesn’t communicate well with us (and therefore projects don’t proceed smoothly).
In these situations, it’s important to know when it’s time to walk away from that client and focus on those who do appreciate our services and are willing to pay the price we charge.
This can sometimes mean losing revenue in the short term, but if done right this could lead to more long-term revenue because there aren’t any bad feelings between parties involved and both sides know what each other expects going into future projects together
Be Transparent When Communicating With Clients Or Employees, Especially When Things Aren’t Going Well Or There Are Mistakes Along The Way
Be honest. Don’t hide problems from clients or employees, especially when things aren’t going well or there are mistakes along the way. Transparency is critical to building trust, which is essential for both client and employee relationships.
Don’t be defensive. When faced with a problem, don’t defend yourself by blaming others (or even worse yourself!) for what went wrong. Instead, own up to your mistakes and apologize sincerely; this will earn you respect from your colleagues and clients alike!
Don’t make excuses or promises you can’t keep. If something goes wrong, it’s better to say sorry than it is to give in-depth explanations about why things went wrong this will only make people less likely to believe you next time around!
Conclusion
Now that you’ve got a good idea of what goes into creating an effective marketing strategy, it’s time to get started.
Follow these steps and you’ll be well on your way to having a map for success in no time at all. If you need help with any part of this process, reach out to us! We would love the opportunity to work together on making your company the best it can be.
Further Reading
Story Marketing: Why It Matters and a Step-by-Step Guide Short Description: Learn why story marketing is essential and discover a step-by-step guide to effectively incorporate storytelling into your marketing strategy.
History of Marketing: From Ancient Times to Modern Strategies Short Description: Explore the fascinating evolution of marketing, from its ancient origins to the contemporary strategies that shape the industry today.
12 Top Storytelling Marketing Examples Short Description: Dive into 12 real-world examples of successful storytelling in marketing campaigns, gaining inspiration for your own impactful narratives.
And here’s the FAQs section:
FAQs
What is story marketing and why does it matter?
Story marketing involves using narratives to engage and connect with your audience on a deeper level. It matters because stories resonate emotionally, making your brand more memorable and relatable.
How can I incorporate storytelling into my marketing strategy?
Incorporate storytelling by identifying key moments, challenges, or successes in your brand’s history. Craft narratives that align with your values and resonate with your target audience.
What are the benefits of historical marketing knowledge?
Understanding the history of marketing provides insights into how strategies have evolved, helping you make informed decisions and adapt to changing trends.
Can you provide examples of successful storytelling marketing campaigns?
Certainly! Some examples include Dove’s “Real Beauty” campaign, Nike’s “Just Do It” slogan, and Airbnb’s user-generated stories that highlight unique travel experiences.
How does storytelling impact brand perception?
Storytelling humanizes your brand, making it more relatable and trustworthy. It creates an emotional connection, fostering brand loyalty and positive perceptions.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.