There are so many different ways to market your business online, offline or both. But it can be difficult to determine which strategies will work best for your company. That’s why we gathered opinions of industry experts so that businesses like yours have access to all of the information they need about marketing their companies successfully.
The reason you need a marketing strategy is so you're not spending money in the wrong places. The pandemic has been tough for many businesses, so why would you want to spend money where you're not sure what you're getting or if the marketing is effective? Instead, having a strategy will help you to measure what's working or not. And if it is working, you're able to put more budget into it. It's that simple.
Ravi Davda, CEO, Rockstar Marketing
Marketing strategy is vital for most businesses as it makes the “true north” clear to everyone in the business. It also has a wider impact than that, the marketing strategy decides what budget is needed to market the business, what channels to focus on, whether the team members has the skill set required to execute the strategy. So from a planning perspective, it is essential to have a strategy before any business can start marketing effectively. The marketing strategy also gives direction on what to focus on and what not to which will help team members to do activities that make the biggest difference to the business.
The most important reason a business needs a marketing strategy is to find out how to grow the business and the rate of the growth which is important for any healthy business.
Rahul Mohanachandran, Co-Founder/ Head of Marketing, Kasera
A marketing strategy identifies the pain points and narrows down the target market for the business. To think of it, marketing without a target persona, or a marketing strategy to guide how the brand engages with its customers is an exercise in futility. One can only understand the marketing challenges, the goals after developing a customer persona through a marketing strategy.
Sally Stevens, Co-founder, Fast People Search
In my opinion, every successful marketing strategy starts with a determination to succeed and a desire to develop. While imaginative visions, abstract concepts, and letting your imagination run wild are all good places to start, it's also necessary to back up your ideas with evidence and study. This is where the marketing plan is implemented. Setting SMART (Specific, Measurable, Attainable, Relevant, and Time-bound) goals, in particular, is a terrific method to make sure you're being as realistic and efficient as possible while still achieving your goals. Setting goals and objectives entail putting your ideas into action and holding yourself accountable for your efforts, which is the only way to get things done. A marketing strategy is based on the notion that a plan should not be left on the shelf until it has expired.
A marketing plan, on the other hand, forces you to explain crucial issues, such as who your target audience will be. You're an inbound marketer at heart if you can already guess where we're headed with this. For efficient marketing, buyer personas are critical. If you don't know what a buyer persona is, it's a semi-fictional picture of your ideal consumer based on market research and what you already know about your current customers. A buyer persona is essentially a more detailed representation of your target demographic. The only way your marketing approach will have any impact is if you target your audience. You're going to be disappointed if you try to promote avocado toast to 60-year-olds via Snapchat. If your objectives aren't in line with your target market, there's a good chance you'll never get in front of them.
Nick Edwards, Director, Snow Finders
Without a marketing strategy, you are doing nothing but throwing spaghetti at the wall and hoping something sticks. A marketing strategy might look different for a one-person company than it does for a Fortune 500, but it's no less critical for the business' success. A marketing strategy will help you stand out among your competitors. A marketing strategy helps you solidify your brand - how you show up in the world. And, a marketing strategy will help you recruit customers and turn them into brand ambassadors.
Any wise marketing strategy nowadays will include both social media and non-social media tactics. Relying exclusively on social media leads to burn out, poor engagement, and lots of unnecessary additional work. On the other hand, avoiding social media altogether can make your company look suspicious or even out of business. A few posts per month is adequate for most small businesses who want to put their mojo into advertising, traditional SEO tactics, or marketplace optimization.
Sam Davis, Owner, Sticker Crypt
When you structure your approach, you guarantee that you don't miss out on important lead conversion possibilities. If your marketing plan is a shambles, you're unlikely to make much progress in that area. Organizing your marketing approach makes it simple to see where you can use CTAs and forms to convert leads into customers.
Daniel Foley, SEO Manager, MCS Rental Software