A marketing strategy is a business's long-term approach and an overall game plan for gaining a competitive advantage with consumers. It is what you have to do to convert a one-time buyer into a loyal customer. Like with any large-scale goals, setting an objective guideline helps a team visualize and stick to a set of standards. So as soon as you're able, sit down with your team and create a marketing strategy that will help spring your business into action!
Characteristics of a Good Marketing Strategy
As you build your marketing strategy, keep the following characteristics in mind:
- It should quickly identify and clearly define the activities you'll perform to achieve the set objectives.
- You should be able to enact the strategy regardless of your access to resources.
- No one needs a convoluted plan. Keep it straightforward and easy to understand.
- It should have a certain level of significance to the success of the business.
All in all, a marketing strategy should be a crystal clear plan that reflects the business. It needs to be easy to follow, easy to enact, and easy to convey to a group of people.
Creating a Marketing Strategy with Action Steps
Before creating a marketing strategy, you are always required to define clearly your objectives and tasks. Then, assess your resources and select strategies that will work with what you have. This is how you create a solid marketing strategy, one step at a time. We discuss these steps below for you.
1. Define Your Business
Define your business for what it is. Review your goals, objectives, mission, and vision. Then give your business a grade.
The objective here is to assess what is working for you, what is not working for you, which department needs improvement, what are your strengths and weaknesses, threats, and opportunities, among other things. By analyzing your business closely like this, you will get an overview of your current operations and your internal and external environments.
To help you with this exercise, ask yourself the following questions:
Source : https://www.ibtimes.com/how-create-marketing-strategy-action-steps-3082048
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