In part one of our marketing strategy series, we discussed what a marketing strategy is and why it’s so important to your company’s growth. However, simply creating a marketing strategy won’t give you the results you’re hoping for – you need to make intentional moves to help it succeed! Discover three factors that will help your marketing strategy thrive:
Understand Your Target Audience
A marketing strategy that targets the wrong customers is like a ship without water – it won’t fulfill its purpose. You could have the most well thought-out and professional marketing strategy created, but if you don’t know who your target audience is, your company will struggle indefinitely or fail completely. To properly identify your target audience, you need to create a buyer persona.
A buyer persona is a semi-fictional representation of your very real target audience. It tells you who you’re speaking to in your marketing, because if you’re speaking to everyone, you’re speaking to no one. (Read more about what a buyer persona is in this intriguing blog.)
Don’t rush this process! Creating your buyer persona will allow you to correctly identify your target audience – the same target audience that will be the focus of your marketing strategy.
Focus on Customers, Not Just Making Money
Marketing has changed drastically in the previous decade. What used to be a product-focused market is now a consumer-focused market. It’s not about who has the best product or service anymore (although that is important), it’s who can reach their target audience the best.
When you start focusing on making money instead of on your customers, you will make decisions based solely on numbers, and numbers won’t buy your product or request your service. Keep focusing on your customers and adjust your marketing strategy based on their needs.
Watch the Data & Make Changes if Necessary
Your marketing strategy is a fluid document that can be altered when deemed necessary. The important part of that last sentence is “when deemed necessary.” This means that you should be constantly watching the data to see what’s working and what’s not.
For example, technology allows us to see how many link-clicks your website gets, how long a customer stays on each page, where your website visitors are located, which page they entered on or exited on, which ad platform referred them, and more. By updating your marketing strategy to reflect your consumer’s habits, you can help it be successful.
This is part two of our marketing strategy series:
- Marketing Strategy 101 – Part 1: What is a Marketing Strategy & Why is it So Important?
- Marketing Strategy 101 – Part 2: 3 Factors to Help your Marketing Strategy Thrive
- Marketing Strategy 101 – Part 3: Establish your Marketing Strategy in 5 Steps
- Marketing Strategy 101 – Part 4: Using Benchmarks to Chart Marketing Progress
How M&R Marketing Can Help
The scarlet thread that’s strewn throughout each of these three factors is your customers – know who they are, focus on their needs, and make changes when the data tells you they’re not satisfied. To make sure you can fulfill these tasks in their entirety, you need a team to guide you through the process and take a few things off your plate! That’s why our team is waiting for your phone call – we’re here to help! Give us a call with your questions: 478-621-4491.