Let’s stop for a moment and think: what is the difference between a typical business owner who can hardly make both ends meet and a successful one? Be careful, when answering: you risk too much to simplify it or say rubbish at all. We’d better skip the variety of details and focus on the most important points.
Every successful business is based on well nuanced marketing strategy. Alas, lots of business people are so busy with daily obviously important things like website creation, ad campaigns, blogging, company running itself and so on. But they are so overwhelmed that don’t have time for even thinking about the strategy at a decent level.
What do we mean when speaking about this level? There is nothing complicated here: it is a plan that will improve results of your marketing activities. It is a line of actions that will lead you to new markets with rich clients, your corporate culture improvement, users’ engagement and others.
You may have studied tons of information, so may feel exhausted and afraid of creation nonprofit marketing plan. But we are going to make a solid basement for your company and offer best practices that were proved by thousands of firms.
5 steps to create effective marketing strategy
- Deep understanding of target audience;
- Getting the niche they work in;
- Unique selling proposition creation;
- Defining of key competitors and analysis of their marketing efforts;
- Creation of competitive advantage of a brand.
The power of focus
The document you are about to write is like lighthouse for a sailor. The difference is that you are to rely on it for the next year or two. One day you may feel great temptation to deviate from the course and try some other types of targeting strategies or something like that. It is nothing wrong with it, but each time it happens, try to remember the goals you actually want to reach.
Who is your target audience?
You should have clear understanding who these people you work for are. It is quite difficult at the beginning, as you will have to say a lot of “no” to those who are not your point of interest. Of course, you can meet their requirements, but the result of this interaction will be lower in comparison with your target clients.
The narrower your focus, the better is your service. You can think of market expansion after gaining a solid base of clients. In addition to this, there is only a small number of digital business models that really work. And we are not talking about definitions, but focus on specificity of niche audience, that is especially true for B2B area.
What is the niche you are working in?
To say it simply, it is a brief description of your business. Tchibo “sells high quality coffee”, McDonalds works in food services and do on. New business often tend to tell about anything and everything that, unfortunately, results into great confusion for potential customers and gives no results at all. Have clear and cut wording of your area to state right marketing priorities.
Some words about branding. A customer should immediately recognize where you belong to and you are in great trouble if it becomes a challenge.
What is your unique selling position?
Find one-two key points that reveal the sense of your services. Don’t offer all the things immediately as your task is to fight poke in the eye. For example, you can say that you promote websites, launch context advertising, create landing pages and online shops and clear your reputation for search engines. That can be absolutely true. But does it really matter? It’s better to say that you work for your clients’ business development. While other services are tools to reach this goal.
Who are your competitors?
Clients will be studying different options from you and others in the niche. All your messages should deliver two key ideas:
- who you are;
- why people should choose you.
It is bad to have no alternatives at all, while similar offers are even worse.
Why you are better?
Define your advantages and state them in preference manner. But don’t hurry to lay all your cards on the table. Use the method of elevator pitch when you have just 30 seconds while somebody is getting to his floor and you are very pressed of time to tell why you are the best: you offer cheaper services, work faster or the only one to carry such services.
Bonus: A short formula that helps to answer all the questions
[A company name] — is a leader in [niche], that represents [unique services]. In comparison with all the rest we can do it better [what exactly and the way in which].
It is a solidproof statement to build a house or a big empire. Good luck!