Growing a startup is not so easy. First, you need a viable
idea to get your boat sailing. From there you need to find a profitable niche,
determine the target demographic and have something valuable to sell.
Whether you are peddling goods, services, commodities or information, getting the word
out to the world has become a tedious and burdensome task to accomplish. And
without an apt marketing strategy to fuel your business and churn huge profits,
keeping the boat afloat and moving is virtually impossible.
However, finding a marketing
strategy that is the right fit is nearly impossible for many organizations. If
you are facing the same issue, join the fray. The truth is that most
entrepreneurs are so busy working “in” their businesses that they forget to
work “on” their businesses. As a result, they fail to decide on a
befitting marketing strategy for their organization.
So, what does it take to establish
the right marketing scheme to save your ship from hitting the rock bottom? The
secret to all this lies in our guide to 8 marketing tactics. Build a great
action plan, become competitive, stay relevant and increase your customer base
manifold by arming yourself with these 8 tactics!
Let us get started!
Tactics to develop a marketing
strategy
1.
Dissect Your Existing Strategy
Before jumping directly to creating
a whole new marketing strategy, it is extremely important to dissect your
previous ones. Identify the areas that need improvement and the areas which are
worth investing time in. Take a good, hard look at your existing strategies to
determine the things that are working and the things that are not working.
Ponder on each area carefully and make a list of everything. Hopefully, your
team has been tracking KPI’s, so this step won’t be too difficult to follow
than usual.
2.
Set S-M-A-R-T goals and define objectives
Businesses define and communicate
their goals, vision, and mission by setting some objectives. These objectives
should be nothing but specific, measurable, achievable, relevant and
time-oriented that can help individuals evaluate the success of a particular
marketing strategy.
They aid the marketers and managers
to align their plans, coordinate marketing efforts and hold the teams
accountable for achieving particular results.
Furthermore, these objectives should
be re-evaluated at the duration of every six months, updated if necessary and
used to measure success.
3.
Figure out your Value Proposition
Your value proposition is arguably
the most critical element of your overall marketing scheme. It tells the
prospects as to why they should choose you over your competitors and it also
makes the benefits offered by your goods and services crystal clear from the
very onset. So a great marketing strategy is one that is derived from the
company’s value proposition, encapsulating its primary strength analysis and differentiators
against contenders, as opposed to being created from the very scratch.
Determining the value proposition is
the step that should be most focused upon. Also, it is the step that requires
most of your time, investment and resources as it is the most important
conversion factor that decides whether the sale will be closed or lost
altogether.
Get started with defining this
conversion factor using pre-made value proposition PowerPoint templates that
are available all through the internet.
4.
Include Virtual Reality tactics to keep the ball rolling
Using Virtual Reality tactics can
make a huge difference to your marketing efforts. It is the biggest trend in
the business and marketing world. Being able to provide your consumers with an
augmented reality experience helps them understand the usefulness and
adaptability of a product. It also helps them understand the benefits of the
product and how it can make their lives convenient. For Eg- Adidas:
Delicatessen. When Adidas partnered with Somewhere Else to show the journey of
two mountain climbers using a VR device. The viewers could actually scale the
journey of the climbers from rock to rock. This VR campaign made TERREX far
more appealing to the user than its onset. The 360-degree view of Delicatessen
changed the fate of TERREX- the line of outdoor apparel and accessories.
5.
Become Customer-Centric
To embed customer’s needs and seek
their involvement in your product, you need to first understand them; their
likes and dislikes.
In the marketing arena, there’s been
a whole lot of buzz regarding customer-centricity- the importance of
fundamentally aligning your goods and services to the needs of your most
valuable customer.
In this quest of getting to know the
customers, traditional marketing is getting a setback whereas social platforms
are getting more popular owing to their user-friendliness. The organization can
easily get information on customer demographics, conversations and online
behavior which was not possible otherwise with traditional market research. The
more personalized information the company can acquire, the more the trust of
the customers. It also shows them that your company values their
patronage.
6.
Employ Big Data
Big data is critical to building an
apt marketing strategy. It is vital to know how to employ it to return the
information that you require to market properly as per the trend and industry
tactics. It is also necessary to run complete analytics on the company’s
biggest opponent and evaluate what they are doing differently to market their
products. What you can learn from them and how it can help you improve your
marketing efforts. Numbering and scouring profitable avenues for comparative
data will yield you better results.
7.
Analyze your Competitors
It is important to keep a tab on
your direct competitors. It is also equally important to determine the
marketing tactics they use and look for trends in their sales inclines and
declines. Analyze the pattern of their sales and determine what they are doing
differently that you can imitate to take your marketing efforts a notch higher.
Learn what does not yield them positive results and create innovative
strategies to make their weakness your brand’s strongest point.
Keep an eye on your competitor’s
target audience and if they work for your product too, develop strategies to
draw their attention with improving reputation, highlighting your brand’s USP
and improving your customer service.
8.
Market across social media channels
You can’t ignore social media when
it comes to marketing. This is where all the so-called magic begins and
spreads. In fact, some businesses owe their success to social media. They are
built solely on the backs of social media channels such as Facebook, YouTube,
Instagram, etc.
It might seem quite intimidating at
first. But once you get a hang of it, there is no looking back! The key here is
to be authentic, post “your” thoughts and post anything that is of relevance to
your audience and your business. Keep the momentum going!
Conclusion
Armed with these 8 tactics outlined
above, you should have an ample amount of ammunition to maximize the ROI of
your next marketing initiative.
So, begin. Focus on numbers and get
your ROI maximized.
Use these 8 tactics to transform
your next marketing campaign and your business as well!
Source: Free Guest Posting Articles from
ArticlesFactory.com
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