The Importance of Finding the Right Marketing Strategy
Marketing is essential to the growth of your business. Implement the right marketing strategy, and it can lead to success. Implement the wrong strategy, and it can impact your business negatively. That begs the question, “What’s the right marketing strategy for my company?” To understand that, let’s look at the definition of marketing strategy.
Investopedia defines marketing strategy as follows: a business’s overall game plan for reaching prospective leads and turning them into customers of the products or services the business provides. Your marketing strategy can have many layers, such as the company’s value proposition, key brand messaging, data on target customer demographics, and other high-level elements.
A marketing strategy combines all aspects of the customer journey and gives visibility to each department. This then allows the organization to focus on the resources available, figuring out a way to use them to the best of their ability in order to generate sales and increase competitive advantage.
Finding a Repeatable Marketing Strategy
While your marketing strategy will likely need regular adjustments or optimizations, it should give you a baseline of where to start. In doing so, it’ll make it easier to see similar or improved results from each campaign without having to completely reinvent the wheel. It also creates stability and a sense of predictability within your marketing department, which is exactly what you need to grow your company successfully.
Your marketing strategy needs to be repeatable. The best example is to think of your strategy as a menu. A menu gives the restaurant a framework and process to work within, one that can be repeated over and over again. If you order a Big Mac from McDonald's, there’s a specific recipe to create the same result for the consumer.
As for marketers, your menu likely looks similar every month. That’s especially true once you get your marketing dialed in. Every month, you want to see a specific set of results: the outcome is usually new leads, new sales, new content assets, etc.
Just like recipes can change on a menu, so can your marketing tactics. Some companies will prefer using Google AdWords or Facebook ads, while others may lean more toward search engine optimization (SEO). While our recipes are adaptable and can be altered, the menu is more or less the same, allowing us to have more free time to spend on improving our recipes, rather than changing the menu each week/month/quarter/year.
Scaling Your Marketing Strategy
The short-term goal for marketing is finding a solid ma