The Ultimate Guide to Creating a Marketing Strategy
13-Jan-2022 | Digital Trends
Results don’t show up unannounced. They only show up with precise planning and a smart approach. For businesses today, the importance of a marketing strategy needs no introduction. But how do you create an exceptional one? You can always bank on the services of a reputed digital marketing agency in Kolkata. But if you’re looking to set the overall direction for your marketing efforts on your own, it doesn’t need to be a burden.
Not when you have this comprehensive guide by your side.
But before diving in, why is a digital marketing strategy necessary anyway?
- Showcases the products/ services of a business
- Helps businesses invest money in the right areas
- Establishes the marketing tactics that will be used
- Links efforts with overall business objectives
- Profiles both your customers and competition
A compact and well-thought-out marketing strategy can help you drive sales and reach the right audiences. Being an extension of your overall business strategy, it helps you realize your business goals in the most effective manner.
But there is never a one-size-fits-all solution for a strategy. It can be different and unique and perhaps unconventional as well. However, there are a few essential components that tend to define a typical strategy.
- Vital marketing channels
- Branding and messaging
- Competitor analysis
- Relevant buyer personas
- Thorough market analysis
- Company vision/goals
Now that you’re acquainted with the basics, here’s how you create one.
How to Develop a Marketing Strategy from Scratch
Start with a goal
Setting a clearly defined goal is the first step. You must have a specific description of what you want to achieve and by answering that, you’ll know how to get there. Opt for the services of a popular digital marketing agency in Kolkata to shed light on this matter. Focusing on a goal creates the central messaging of your marketing efforts and most of the work will be completed then.
But of course, smart work trumps hard work and quite rightly too. So think SMART! Your goals must be: Specific, Measurable, Achievable, Relevant and Timely. The exact goals will also depend on your industry and the overarching business goals that are set.
Common examples of digital market strategy goals:
- Obtaining new customers
- Enhanced sales or conversion rates
- Stronger brand awareness and engagement
- Growing your emailing list
- Maintaining thought leadership in your industry
Leverage the '4 Ps of marketing'
While this may seem like textbook knowledge, it definitely has relevance in today’s marketing landscape. The 4 P’s of the marketing mix pave way for a successful digital marketing strategy. Here’s what it consists of:
Product: You need to know your product inside out. You should know exactly how it meets the needs of customers and how it can make a difference in someone’s life. So before creating a strategy, ask yourself what is it that makes your offerings unique.
Price: Of course, this refers to how much someone is charged for a product. But you should also know how competitors are pricing their own products. This also takes marketing budgets and profit margins into consideration for better results.
Promotion: Which promotions will be the most effective? This answer rests on what exactly you’re trying to achieve. Are you working on building brand awareness, building social media presence or simply promoting a new product? Keep your goals in mind.
Place: Also consider where your products are being sold. Are they limited to online platforms or physical stores? What channels will be used? You should also know where your target audience spends their time for optimal marketing locations.
Know your customers
Only by understanding your target groups will you be able to appeal to them. Hence, this is why buyer personas come into the picture. This will provide vital demographic and psychographic information such as age, income, interests, etc. At the same time, you also need to understand their motivation and their preferred mode of communication.
When you place buyer personas at the core of building your digital marketing strategy, developing a winning one becomes easy. Keep your customers at the heart of your efforts and you’ll see that your marketing will become more targeted and relevant.
Outline relevant techniques
Now it’s time to choose the best digital marketing services and techniques that can help achieve your business goals. This will only work once you’ve understood your customers, your market and your resources. Think of the optimum mix of tools that will effectively promote your business.
There’s direct mail, online advertising, SEO or even television advertising – a reputed digital marketing agency in Kolkata like Digitale can help ascertain what will work best. From another perspective, also think about which technique will effectively persuade your customers to make a purchase.
Keep an eye on competitors
Differentiation is key in such a competitive market environment as ours. But standing out from the crowd also means knowing what the crowd has to offer. Take time to learn about the competition and think about how you can make your digital marketing strategy distinct.
This is why running a competitor analysis is important – you’ll see what works for them and you’ll be able to do it better. Factors that can help are values, lifestyle, location, quality and accessibility. You can also observe their social media presence and understand their patterns and tactics for better insights into your own marketing strategy.
Going forward, be sure to drive the best results for business with an exceptional strategy.
It can be overwhelming, but the services of a good digital marketing agency in Kolkata will be worthwhile. With expertise in creating marketing strategies and plans, it can bring the assurance you need for a profitable outcome. So get in touch today and learn about how we can take your business to the top!
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