Strategy

 

Memorable for all the right reasons!

Memorable because it effectively communicates a Company’s value proposition that achieves a competitive edge and the desired outcomes.  

Simply put, a Marketing Strategy is a Company’s approach to promoting itself, its ‘brand’ to a target audience using a process that involves research, goal-setting and positioning. 

If you are a small Business you may be asking yourself, pondering, what does this all mean, the cost, time and effort involved and how do I go about it.  

Don't worry, whatever your Industry, or Business venture, if big or small, there are some basic principles to developing a 'winning' strategy.

Here is a Guide. 

Firstly, let's look at the marketing mix also known as the 5 P’s of Marketing,  

  • Product – your product or service, design, features & benefits; branding & packing; service & warranty 
  • Price – what the customer pays; offers, discounts, price matching; credit, payment terms 
  • Place – locations of purchase, e.g. Instore; online; delivery arrangements 
  • People- customers; staff; Suppliers; Partners 
  • Promotion – the activities and methods used to raise awareness of your Business. How you promote can vary depending on the customers you want to reach.  

Next, take action! 

10 Tips for creating your ‘memorable’ Marketing Strategy

  1. Create a unique value proposition: a USP is the reason customers buy from you and not your competitors. This is all about what makes you, your product, unique. Simply, what you, your Business do or provide differently, what you stand for and convey why it, you, deserves their custom. Proudly promote your brand. 
  1. Know your audience: importantly, understand their needs and wants. Profiling will help your marketing efforts e.g. identify demographics, shopping behaviours, locations & lifestyles. (STP), Segmentation, Targeting and Positioning help craft more relevant, personalized messages to target audiences. 
  1. Value your Customers: Seek feedback, ask for reviews. Identify what are best sellers, likes, dislikes, do you need new varieties. Reward patrons with Loyalty Programs, discount & incentives. 
  1. Use multiple channels: create content that's relevant and useful to your audience, using various channels; Blogs, emails, Videos, Webinars; TV, newsprint and paid adverts 
  1. Improve your Google My Business profile: to maximize exposure and opportunities. 
  1. Use Social media: To ‘quickly’ reach your target audience. Create profiles on platforms that your customers use and post content. Utilize Facebook and LinkedIn to connect and engage with customers and prospects.  
  1. Use SEO: to increase brand awareness, on your Website adopt search engine optimization (SEO) to understand what users are searching for. Organize your content around the relevant topics.  
  1. Set Goals: set Goals, bigger picture with detailed short- and long-term objectives with clear milestones and deadlines. Monitor KPI’s.  
  1. Review your Strategy: Continuously analyse results to identify areas for change or improvement to understand the ROI (return of investment). i.e. what the marketing programs cost against what they generate in return. 
  1. Seek professional help if needed. Blackburn Accounting are Family Business specialists offering a broad range of services including Business development, communication & advice and expansion into new markets. Speak with us soon about your Business requirements. 

Takeaway:  

A ‘memorable’ Marketing Strategy typically includes target audience personas, brand awareness, marketing channels, KPI’s and more! 

It has potential to  

  • Align the Team to specific goals 
  • Help tie your efforts to Business goals 
  • Allows you to identify with target customer needs 
  • Capitalize on emerging trends