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 marketing strategy that is repeatable. The last thing you want to do is change your marketing every day of the week. If you can repeat your strategy, you can scale it at will. For a growing company, this is vital.
One of the biggest mistakes we see in marketing is the fact that they don’t share data and insights with employees, teams, or departments of the company. The entire company should be on the same page as it pertains to adopting the same marketing strategy for all products and services you offer. By doing so, it’s going to keep everyone on the same page and allow for consistency across all marketing campaigns.
If your message is different on your PPC campaigns versus your SEO, that’s a problem.
The challenge you face is finding what works, that can take time and effort. However, once you find what works and what doesn’t, you’ll have the opportunity to repeat it and scale.
With an effective plan in place — that is both repeatable and scalable — you are free to focus your efforts on improving the strategy and making it work, rather than wasting a lot of time that you don’t have, worrying about what the strategy is going to be.
You Can’t Find the Right Marketing Strategy Without Discussing Your Target Audience
Your marketing strategy has to focus on getting your content in front of an audience, but not just any audience: it has to be your target audience. The more defined your target audience is, the better your marketing strategy will be, as you’ll be able to create all of the brand marketing content, messaging, and ads with them in mind.
How can you find out who your perfect client is and what they want most? You have to talk to your customers. Those conversations are essential to your marketing because you can speak their language in your content.
As time goes on, you’ll have the opportunity to gather more insights and details about your audience. It will allow you to gain a deeper understanding of who exactly falls into your target audience. All of us have to learn as we go; don’t let that deter you in any shape or form. If you’re willing to go out there and create feedback loops with your audience, you’re going to walk away with a ton of valuable insights you can apply to your marketing.
Those conversations will give you the answers you need, then you can take what you learn and apply it to your marketing.
Want to gain access to more premium content and connect with some of the most influential minds in business? Make sure you become a PDMI member today!