India's advertising sector will grow by 7%, to ₹10,730 crore in 2023. But advertising is not enough by itself. To set yourself apart in a crowded field, you need a proper Marketing Strategy to help your business break through and attract attention, build trust, and convert prospects to loyal customers.
Your business may be doing well, and you may be in a successful industry or recently started up. Thinking about the proper way to promote your business is important. Follow the seven simple steps below to establish a workable Marketing Strategy.
Step 1: Do Research
Researching your market is the critical first step.
Know your Customer: Create detailed profiles of your perfect customer based on age, gender, location, interests, and frequency of buying.
Follow Conversations: Get involved with current events, social conversations, and changes occurring in the market.
Monitor Competitors: Check out what your competitors charge, their products and services, and more importantly, what they do well—and poorly.
Having proper research will enable you to make informed choices when planning your marketing and create the foundation for your Marketing Strategy.
Step 2: Make Goals SMART
Your goals should connect to your purpose and growth goals.
Use SMART goals:
Specific, Measurable, Achievable, Relevant and Timely
Examples:
Increase website visitors by 25% in 6 months
Create 500 leads through Instagram
Consider working on goals that impact your business the most.
Step 3: Write your Unique Selling Proposition (USP)
What do you do that makes your business different? This is your USP.
Make one clear sentence explaining your value in a way your audience can grasp easily. A solid USP creates trust and reinforces your Marketing Strategy by helping your customers understand why you are a better choice over your competitors.
Step 4: Choose Your Channels
Once you’ve decided on your audience, you can choose online and offline channels to reach them.
Online Options:
Social media (e.g., Instagram, Facebook, or LinkedIn)
Email campaigns and newsletters
Search Engine Optimization and paid ads
Blogs, videos, or podcasts
Offline Options:
Newspaper or magazine ads
Local events and trade shows
Flyers or direct mail invitations
Using both online and offline channels ensures greater visibility and will help strengthen your communications plan.
Step 5: Create A Content Plan
Content is the engine of communication.
Make your format selection: blogs, videos, webinars, or social posts
Use a written content calendar to hold yourself accountable
Explore metrics to find out what works and what does not. Adjust your plan when necessary
Good content that helps to educate or entertains provides a pathway for deeper connections with your audience. This aligns with your Marketing Strategy.
Step 6: Measure and Improve
Marketing is not a one-and-done task. You should be analysing your efforts on a regular basis.
You can use tools such as:
Google Analytics
Meta Business Suite
Look at key metrics regarding traffic, leads, and conversions. If your marketing isn't working, change your message, imagery, or even your budget to see if that helps. The key to a good Marketing Strategy is to be flexible.
Step 7: Stay Flexible and Pivot
The market is always changing, and your marketing strategy on occasion should change too.
Always have alternative plans. Be aware of changing trends or issues affecting the market. Brands like Zomato adapted quickly during COVID-19, which kept them relevant. Being able to pivot is a key element of a sustainable Marketing Strategy.
Final Thoughts
The Marketing Plan won't lead you to perfection; it will lead you to being better at being prepared, flexible, and wanting to learn. From conducting due diligence in research, developing measurable goals, creating a clear and unique message, leveraging smart content marketing, to developing the right tools for your audience; your Marketing Strategy should help steer your business in the right direction for long-term business growth.
Don't stop measuring, don't forget the fundamentals, and don't lose sight of where you need to continually evolve.
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