Often, business owners spend a lot of time getting the capital together to kickstart their businesses. They’re focused on finding the best staff and developing great products and services.
However, in 2018, having a good product alone is not going to get new customers through the door. There has to be a push to motivate them to give your company a shot. A big reason why many businesses fail is the lack of a marketing strategy in place. The marketing strategy is something you as a business owner should not overlook.
To get more customers, you have to get the momentum going through a strong marketing strategy.
66% of small business owners say that finding new customers is their top priority. In this guide, we’ll show you some tips to get your marketing strategy off the ground. You’ll learn how to create one of your own and then put it into practice.
After all, a marketing strategy itself won’t do much good without taking action. Hopefully, you’ll find the motivation you need to take charge and work with your team to get the ball rolling.
What is a Good Marketing Strategy in 2018?
A good marketing strategy in 2018 cannot rely on one medium alone to achieve results. Marketing can be executed through many different channels. What will set you apart from your competitors is knowing how each piece fits together into the big picture.
For example, you might start out building a new website and getting the content and web design put together. The process might take anywhere from 30 to 60 days. Then, attention is placed on the on-site search engine optimization, adding meta descriptions and alt text to each page.
SEO will take a while to work correctly, so you might run some ads on Google Ads to attract customers to specific landing pages. There would also be an active social media campaign to announce some deals and discounts.
This is one example of what your marketing strategy would look like now. You’re not solely relying on one medium over the other. You’re taking full advantage of each digital marketing tool to build brand awareness.
What we’ve described here though is only part of the puzzle to figuring out what your marketing strategy should be this year and next year. You must also have clear goals, a purpose, and an understanding of your target audience to make each of these digital marketing strategies work.
All the search engine optimization and paid ads won’t save a product that’s not marketed towards the right demographic or solves an existing problem.
How to Build the Best Marketing Strategy Now
Before you think about SEO, social media marketing, or creating a new business website, let’s start at the beginning. Creating a marketing strategy for your business isn’t that hard, but it’s going to require some brainstorming and planning. The best digital marketers in the field always plan out what they’re going to do, which adds more bite to the campaigns they run.
That’s how you need to be too with your marketing strategy. The losers always fail to plan and not do enough research on their target demographics. Here are the steps you need to follow to create your dream marketing strategy:
1. Identify Your Product and Unique Selling Points
The first thing you need to do is pinpoint what you’re trying to sell to the public. Think about what existing problem you want to solve. Is there a lack of this kind of product in your industry?
Are you able to produce the same products and services at a fraction of the cost and keep the quality high? How will your product make someone’s life easier? You have to hit on all these pain points, then narrow down what makes your product special and different from what else is out there.
Later on, you can use these insights to create your unique value proposition, which will be the center of a lot of the digital marketing you’ll do.
2. Create a Buyer Persona
Take some of those pain points you came up within the first step and start performing research on your target demographic. Pain points are common problems people have. For example, someone getting frustrated that they don’t have enough minutes on their cell phone to call internationally is a pain point. Research on Quora, Google Trends, and discussion forums and look at what people are asking about.
You should then find a common trend that people are having and use that to create a buyer persona.
A buyer persona is a tool you can use to understand your ideal customer more. Having a stronger knowledge of their background, age, behaviors, and needs will help you know how to structure your content, social media, SEO, and email marketing strategies. A good buyer persona would look like this:
Name: Anna Jenson
• Sales Representative at a small company
• Married with four children
• Has been at the company for five years
• Gender: Female
• Age: 25-30
• Income: $40,000 a year
• Lives in Metro Atlanta
• Is a people person
• Friendly and calm
• Likes to check email and social media often
You can get more detailed and also come up with the sales pitch to get someone like this interested in your company. Take inbound marketing into consideration too because you have to also earn a customer’s trust to get them on your side.
3. Perform a Competitor Analysis
Research your competition and see how their products compare to yours. What benefits are they advertising? Look at what they days they are using social media and PPC to get more customers on their sites.
Are they advertising on holidays?
Are they creating in-depth blog articles over 1000 words answering product questions?
Learn as much about these competitors as you can. Test their page speed and use the Google Inspect tool even to find out what platform was used to create their websites. This is your chance to collect as much information as you can to develop ideas to blow them out of the water.
4. Get Your Marketing Strategy Into Writing
Take everything you’ve developed thus far and create a document detailing your marketing plans. You need to have your marketing plan documented to prevent misunderstandings throughout your organization.
A marketing plan should be treated as a living, breathing document. When something fails, it will be far easier to go back and revise the strategy to avoid making the same mistakes.
Talk with your team about what’s in the marketing plan and what their roles will be. Make them part of the process in keeping your marketing strategy strong and robust. They might have some suggestions too.
5. Execute on Your Marketing Strategy
Decide on which digital marketing channels you want to focus on to make your marketing strategy come to fruition. Find out where your customers like to post. Use the information you learn to your advantage when creating content for them to read. Create a chart of how much resources you want to allocate to these areas:
• Search engine optimization
• Content marketing
• Event marketing
• Social media marketing
• Pay-per-click advertising
Experiment and perform tests early to confirm your observations and findings from earlier are correct. Make changes as needed if one of your marketing campaigns doesn’t perform as expected.
Creating a solid marketing strategy for your business doesn’t have to be hard as long as you follow the outlined steps. Do your research from the very beginning and agree on what digital marketing platforms you wish to use. Let your team know what your marketing plans on and let them be an active part of the process.
One other takeaway is that a marketing strategy is never set in stone. It’s malleable and can be changed as your business grows. Learn from the mistakes and failures you may encounter and refine your marketing strategy as you go.