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Chief Marketing Officer

Marketing Strategy

Without a strong marketing strategy, your business may survive, but it will not grow. Marketing serves as a driving force behind brand visibility, customer engagement, and revenue generation.

Marketing strategy is a structured document outlining your business’s objectives, target audience and the way they engage with your products and services, competitors environment. It is a framework on planned activities and the relevant methods of communication with your customers.

The key benefits of marketing strategies

Know Your Customer for better customer journey

Marketing works by pairing a business solution with a customer need. Knowing your customer helps to develop not only the right offer but also establish visibility in the relevant channel. Answer simple questions: Who is your consumer? Where are they located? What are their age and social status? Why should they consider your product? How can you reach them to deliver information about your product or services?

As you dial into all of these questions, you’ll develop a much clearer picture of who your end user is, which will provide stronger indicators of what they need.

Know your competitors’ environment

There is no business without competition. Researching on the market in your segment can help you to outline important directions and path to profitability. We usually monitor market trends, market size, key factors that influence decision-making process, competitors, their positioning and main marketing channels, economic and political factors that could affect the sales in general.

This analysis helps to understand your competitors’ strengths and weaknesses in comparison to your own and enhance your own business strategy.

Keep your activities consistent and relevant

Determine your marketing channels and tactics. Share your objectives with all the teams to stay on the same page when working on different channels (content, advertising, PR, social media and so on). When everyone is given the exact instructions on what to do, there is more chance to meet the company’s business goals.

Be sure your customers use channels from your marketing mix. Leverage multiple touchpoints: landing page, advertising, social media, PR, influencer marketing etc. Some experts say you need three to eight touches to build a strong connection with your target audience and level up your marketing game.

Measure your progress

Focus activity on a set of defined objectives. List which KPIs you track and the acceptable benchmarks for those metrics. Effective marketing strategies help businesses attract new customers, retain existing ones, and encourage repeat purchases.

There are a lot of KPIs to choose from. It’s up to each business to understand what indicators are most important to a specific project. We have some common list of metrics which include:

  • New Contact to Lead Ratio
  • New Lead to Contract Ration
  • Customer Acquisition Cost
  • Return on marketing investment

We usually track, analyze and adjust them on a monthly, quarterly and yearly base.

According to a report by CoSchedule, organized marketers are 674% more likely to be successful. Goals Setters are 377% more successful than peers as well. One of my favourite saying is “If you fail to plan, you plan to fail.” So, work on your marketing strategy to generate brand awareness, nurture customer relationships, and convert leads into paying customers.

More than 15 years, we have been developing and implementing successful strategies to help our customers grow faster. Many companies leave their success to chance. We are eliminating the guesswork through a structured plan and KPIs for the core pillars of growth – Acquisition, Activation, Retention, Referral and Revenue. Contact us if you need professional advice on how a marketing strategy can accelerate your growth: info@marketentry.agency.

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