A marketing strategy is a long-term, comprehensive, cohesive, big picture that empowers you to choose the direction you want to go with your marketing. It is the “what we do well” that will drive the “how we will do marketing” in any good marketing plan. Based on market research instead of what feels good or what everyone else is doing, a marketing strategy gives you a distinct advantage for increasing your sales and growing your business.
What is marketing strategy for your business? Within its framework, you have a clear description of your products and services. You can articulate what makes you and your business unique. You have concrete examples of how you meet the needs of your customers and solve real-world problems.
Your marketing strategy also includes detailed information about two groups that affect your sales. Your competitors get profiles telling you what they do well and how you hold a competitive advantage over them. Your target market—your ideal customers—get their own personas outlining their needs, their desires, their viewing habits, and their shopping preferences.
This introspection will lead you to create clear objectives, both for your business and for your marketing. From these objectives, you will fashion goals. Your goals will be SMART: specific, measurable, achievable, realistic, and timely. How you achieve these goals and objectives will become part of a marketing plan, which is usually governed by a marketing budget. Your marketing plan may cover a single fiscal year while your marketing strategy will be effective for a number of years.
Whether you are a new small business or an established business going in a fresh new direction, your strategizing may include web design, search engine optimization, and digital marketing and advertising. All of these work together to build your online presence, increase your visibility, attract the attention of prospects, engage current customers, and increase sales.
“Preparing Your Post-COVID Digital Marketing Strategy” mentions some of the components of a digital marketing strategy. Your needs and objectives may be different so “what is marketing strategy?” will be unique to your enterprise. Give Tate Design a call at 610.725.0702 or e-mail us at [email protected]. We will work with you to determine which of our services will help your business grow and then we will implement only those you require as part of your comprehensive, cohesive marketing strategy.