If you want to see a return on your marketing efforts, a good marketing strategy is key. Unfortunately, many SMEs rush straight into using marketing tactics before thinking about who they are trying to reach, how they are going to reach them and what they hope to achieve.
Want to achieve better results from marketing? Here are the 6 steps you need to follow:
- Identify your customers
Presumably, your product/service exists because there is a need in the market for it, but how well do you know your customers? It is important that you take the time to analyse who exactly your target market is e.g. age, gender, buying habits, job title, and so on. By doing so, you can firmly establish who will buy from you, and what message and marketing tactics you need to use to reach them.
- Analyse the market/competitors
You need to consider internal and external factors such as the size of the market, the health of the market, the economy, technological trends, analysis of any suppliers you are reliant on and any political or legal issues that may have an influence on your business. Could any of these factors stop your business operating effectively or could they be taken advantage of? You also need to analyse the competition to determine their positioning in the market place and how you can stand out from them.
- Establish your message
By identifying your customers, analysing the market and your competitors, you can then define your brand identity and the key message that will attract the right customers and help you stand out from the competition.
- Set KPIs
Without setting KPIs, how can you establish if your marketing is working? Failure to set goals can cause you to lose focus on your marketing efforts and may cause you to use your time ineffectively. Setting marketing goals that are in line with your business goals are critical for a successful marketing strategy.
- Establish a plan and put it into action
Having a clear plan helps you identify your goals, what your deadlines are, what marketing tactics to use and who is responsible for different marketing activities. Once you’ve created the plan, it is important that your team act on it. Holding regular meetings can help ensure your marketing strategy stays on track and keeps everyone engaged.
- Measure your results
There is no point following a marketing plan if you’re not measuring results. By doing so, you can establish what marketing tactics are working and what are not. This means you can focus your time and budget on marketing activities that are cost effective and contributing to business growth.
Need help kick starting your marketing strategy? Give us a call on 01522 581 911 or email email@example.com