How to Plan an Effective Marketing Strategy

 | 
October 20, 2021
UPDATED: 
October 31, 2021
How to Plan an Effective Marketing Strategy

Effective marketing needs excellent planning. If you hope to achieve certain goals, you will first need to define your goals, plan the details, strategize your moves and evaluate your results, making adjustments where needed. We asked the experts, and here is how you can plan your effective marketing strategy.

Segmentation

Characterizing your existing and potential customers into particular groups is an essential tactic you must involve in your strategy. You can do this by analyzing and characterizing their needs through careful and thorough market research as well as reports. 

Dan Alder, Editor in Chief of Levvvel

Conduct a Competitive Analysis

To succeed in the internet business, you must be as familiar with your competition as you are with yourself. What are the objectives they're attempting to achieve? What proportion of the market do they control? What distinguishes their digital offerings from yours? 

Fortunately, the Internet has made competitive analysis far more accessible than it was previously. There are numerous free and paid internet tools available to assist you in spying on your competitors and better understand the challenges you're up against as you try to woo customers away from them. 

It all starts with one question: who will obtain your clients' money if they don't buy from you? These are your adversaries.

Begin by creating a column in an Excel document or Google sheet to list the rivals you identify. Fill in the following values in the rows:

  • Value proposition or mission statement
  • Price
  • Active years
  • Properties on the internet

You might include any extra information about your competitors that you wish. Fill in the values we indicated above for each of the rivals you listed. Then you can compare them to your own items. What are the differences between them? What are the advantages and disadvantages of your product? So, what about them? 

You can figure out what you give clients that your competitors don't during this step of writing a marketing plan. You may also discover features that you want to include in your own digital products to improve their competitiveness. 

It's all about giving your company a fighting chance against fierce competition. Starting with four or five competitors is ideal. If you feel the necessity, you can collect data on more competitors.

Lauren Cook-McKay, Director of Marketing & Content Divorce Answers

Create Your Buyer Persona

For determining your target market, buyer personas are vital. Rather than trying to sell your digital items to everyone, you target people who can truly benefit from them. A buyer persona can be thought of as a character sketch. To pique their attention, give each consumer a name. The demographics, pain points, needs, and buyer's journey of each buyer persona should be described. What factors influence this person's purchasing decisions? What's stopping him from signing up for your online course or purchasing your ebook?

You don't want to get this information off the top of your head, though. For your internet business, poll potential and existing consumers, send out surveys, and investigate buying habits to learn more about your target demographic. You can market to each category differently if you have various buyer personas. You'll target their individual problems and offer a solution that appeals to them. 

Don't make the mistake of trying to shoehorn everyone into a buyer persona. That isn't how business works. Teenagers are unlikely to want to buy a fitness course designed for worried parents. That's OK. Concentrate on the people who could be interested in the information you supply.

Gerrid Smith, Founder of Corporate Investigation Consulting

Grab Attention And Offer Helpful Content

If you want to be successful in marketing your product or service, an essential thing that you need to do is get your potential customer's attention. You can do this by using new and innovative techniques such as contests, promotional campaigns, social media campaigns, viral videos, etc.

Another tip would be to offer free samples of your product or service so potential customers can check out what you have. As Facebook has become more popular than ever before, setting up a page for your company has become beneficial for brand awareness and an excellent way of strengthening relationships with current customers and getting feedback about their experience with your company.

To be successful at marketing anything online, you need to grab attention and offer helpful content that people want to share with their friends.

Paula Glynn, Director of Search Marketing & Digital Strategy at Pixelstorm

Create an Evaluation Process

A marketing plan's value is determined by its effectiveness, which involves intentional and timely execution, as well as monitoring and evaluation of results. It is critical to compare your performance to the standards you established while setting your goals. 

Periodically (we recommend quarterly), review your plan by comparing your progress against the implementation timetable. You may track your progress in numerous ways: patient survey scores, referral sources, higher revenue, increased new patients, and fewer complaints. 

If your development falls short of your goals at any point, you must investigate why. Perhaps your advertisement for a new service you're marketing was unsuccessful in attracting new patients. 

If the advertising campaign was carried out as instructed but produced no results, discontinue the campaign and attempt another approach. Perhaps you'll want to consider giving a series of lectures geared directly at the group you're attempting to recruit or creating a new section on your Web site for patients that details the new service's benefits. You may even discover that if each physician in the practice just informs their patients about the new service, beneficial outcomes will follow. 

In other words, the marketing plan's actions and even its strategies and objectives are not set in stone. By monitoring and reviewing each action on a regular basis, you can always adjust and try new tactics.

Alexandra Tanya, Co-Founder and Creative Director at Miss Amara

Calculate The Cost Of Strategies You Want To Implement

Determine the cost of each of the recommended projects, campaigns, and ideas in your marketing plan. You won't be able to predict exact expenditures, but you may make an educated guess based on similar campaigns you've run in the past and research. Many of these concepts may be scalable, meaning they may be implemented at various scales, therefore considering what the maximum and least costs might be, I am convinced.

Susan Smith, Marketing Manager at Velden Engineering

Identify Your Goals

Marketing is all about getting the right message to the right people at the right time. Your first port of call when planning a marketing strategy is to figure out what you want to achieve from it by identifying your goals. Next, you need to thoroughly research your market - find out who they are, what they do, and, more importantly, where they hang out when they’re online. 

This allows you to pinpoint the best places for your messaging as well as letting you work out what kind of content that your audience expects and wants.

Milosz Krasinski, Managing Director at web consulting company chillifruit.com

First Profile Your Potential Customers

Do not ever even consider putting together a marketing strategy before you’ve profiled your potential customers, as by doing this, you really are just wasting your time. Not only do you need to profile your customers, but you also need to do the same with your competitors. This will create a foundation from which you can identify the kinds of content which will resonate with your audience - which will save you a lot of time and money.

Lukasz Zelezny, Managing Director at SEOLondon.com

The 7 Ps of Marketing 

My best piece of advice when planning an effective marketing strategy is to familiarise yourself with the 7 Ps of marketing which is: Product, Price, Promotion, Place, People, Process, and Physical Evidence. All of these things need to go into the mix if you want to be successful in reaching the right people when you’re sending out your marketing messages.

Marcin Stryjecki, SEO Project Manager; booksy.com

Identify Your Market

Marketing is the art of identifying the people who may buy your product or service and then figuring out how to reach them. This means that audience profiling is absolutely essential as this will tell you which platforms you need to be targeting to reach those people. 

You also need to closely analyze your competition in order to know where else your potential customers may be going; after all, if you don’t know this, how can you possibly expect to be able to lure them away?

Marcin Jablonski, Chief Commercial Officer; lvbet.com

Author

  • Joseph was a fresh marketing graduate when he started working for ScoreLA and has been with the company ever since. This proves that the company has embraced the non-customary type of hiring, wherein we believe that if someone does not have the required experience for the job, then we equip them with the training needed to perform their tasks with excellence.

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