Did you know that only 37% of businesses have a real marketing plan that they’ve written down and followed? Very nearly 100% of organizations recognize the importance of having a plan and making it as concrete as possible, but they just don’t follow through and make it.
Your marketing strategy plan can make all the difference between stagnation and growth, or even success and failure! Read on to learn about the 8 elements that will make your marketing strategy as effective as possible.
Map Out the Market
Who do you have access to? Whether it be the people nearby geographically or those who are accessible through various forms of communication or transportation, there is a subsection of the world that is most available to you.
Once you know who is closest to your business, learn more about them. Add details to your market map in the form of facts about demographics, interests, and behaviors.
Identify Your Target Market
Find which small part of the total market is most likely to end up as your customers. This might include the ones who would be most interested in your product, the ones who are most likely to buy things or the ones you can most easily communicate with.
Describe Your Product
Find the best way to describe your product to your target market. Note that this is different from just describing it in general. You want to list specifically those facets of your product that appeal to your target market and cut everything else out.
Create an Internal Document
Once you have an idea of how your company should proceed, you need to share that vision. Your company vision should answer the question, “What is our market strategy?” Depending on your company, you might also answer the question, “What is market strategy?” itself.
List Possible Marketing Strategies
A social media marketing strategy and a content marketing strategy have different strengths and weaknesses. Make a list of possible approaches before you commit yourself. This way, you’re less likely to skip over some low-hanging fruit.
Present Your Materials Effectively
Once you know who you’re going to talk to and what you’re going to tell them, make sure you make the best presentation possible. This free online logo maker can help give your company a personality and a sense of prestige.
Prioritize Based On Your Budget
Identify the most important aspects of your marketing strategy and pay for them first.
You probably won’t have the budget to do everything, so let the less important parts fall through the cracks for now.
Adjust Your Plan Based On Feedback
Track everything that happens as a result of your marketing. Plan in advance to let incoming data adjust how you’ll market your company in the future.
It can help to always think of your current strategy as just an experiment, subject to change if the results aren’t the best they can be.
Make the Most of Your Marketing Strategy Plan
We hope that you found some helpful tips in this review of what makes a marketing strategy plan most effective. To keep up to date on the latest in business, technology, and other aspects of lifestyle, take a look at our other pages!