5 Ways to Design Your Marketing Strategy
Are you a small to medium-sized business owner? Or are you a budding entrepreneur dreaming of building your new empire? If so, then you need to nail your marketing strategy to ensure the success of your business.
Don't worry if you don't know where to begin in your strategy. Keep reading to learn everything you need to know about creating a marketing strategy for beginners.
1. Set Clear Goals for Your Marketing Strategy
When you first begin designing a marketing strategy you must start with the end in mind. What do you want to accomplish with your marketing plan? Remember the old adage, if you don't establish where you want to go you risk winding up somewhere you didn't want to be.
So, take the time to sit down with your team and establish what your exact goals are for your marketing team. When you establish clearly defined goals that everyone on your team can articulate you ensure success at the end of your hard work.
2. Establish Your Ideal Customer
Creating buyer personas can be awkward and contentious. However, this is an important step to take before you begin your marketing plan. If you attempt to market your product or service to everybody you will likely have very low conversion rates and won't see the level of success possible when you narrow your market.
Instead, tighten the scope of each marketing campaign and you will realize much greater success and higher conversions. When you define who you're speaking to in each ad, blog article, and email you will be able to write content that speaks directly to them. This will lead to higher sales and allow you to scale your business quickly.
3. Determine Your Resources
At this point, you're ready to get started with your plan. However, if you don't take the time now to determine what resources you have at your disposal you could find yourself going out of business before you ever get started.
The two most important resources you need to analyze are your time and money. Based on this you will shape your strategy in the best way possible to capitalize on what you have to work with now.
If you have plenty of time but are low on cash you will focus on organic traffic. In this marketing strategy, you will focus on creating content that your ideal audience is already searching for online. Organic traffic can be quite targeted and will likely lead to higher conversions than social media leads.
You will be able to grow your audience steadily and organically when you take the time to create valuable content. However, this method will take much longer to establish yourself as an authority and build your audience. But if you're short on cash this is a great way to build your business on autopilot.
And instead, if you are short on time due to career and family responsibilities you will need to raise financial capital to focus on paid traffic. Paid traffic can bring you a very targeted audience very quickly, however, you will need to maintain a healthy budget to maintain your flow of traffic.
Additionally, you will need to keep a close eye on your conversion rates for your sales page to ensure that this method is profitable for your business. Once you have a highly converting product and sales page, this method can deliver you steady business quickly.
By creating your strategy around your current resources you will see much more success in the next stage, implementation.
4. Focus on Implementation
You've been wanting to jump to this step from the beginning. However, if you did skip the previous steps you will likely find yourself not reaching your desired end goals. And more than likely you will find yourself having wasted valuable time and money on haphazard tactics rather than focusing on and following a well laid-out roadmap.
So, once you've followed the previous three steps you're ready to implement the strategy chosen earlier. This step can be a long and grueling process. So, be sure to keep your team focused on the goals established in the beginning to ensure ultimate success in the end.
5. Track and Adjust
As you're implementing your marketing strategy, you might find yourself wondering if all your hard work is worth it. And it can be difficult to continue to create great content when it feels like nobody is listening. To combat this, you need to schedule time every month, quarter, and annually to track your analytics.
Then, based on this information you can adjust your strategy depending on what you find in the data. Be sure to track each platform that drives traffic to your site, then continue to focus heavily on those that bring the most.
Track your email subscribers and continue to build your email list. Finally, you need to track the conversion rates on your landing and sales pages and make adjustments accordingly to increase your conversions and scale your business.
Use This Framework to Grow Your Business Today
As you can see, you don't need an MBA to create your marketing strategy. Instead, you need to know who you're helping and how you're going to reach them. Then just follow this framework for your marketing strategy and you'll be well on your way to growing your business today.
As a business owner, it can sometimes feel lonely and you might worry you don't have all the information you need. This is why the chamber is here to help business owners just like you every day. You can check out the many benefits of membership here.