6 Reasons why you need a Marketing Strategy in today’s (Crowded) landscape?September 17, 2018
To make a long story short in today’s crowded landscape, in order to have a fine-tooled business with renowned brand identity and recognition you must a have a clear roadmap on how to organise it. The organisational part is fulfilled by a strong marketing strategy that covers all the important steps towards the achievement of the main objectives of the business.
Companies and businesses need a marketing strategy to be more focused and to clearly distinguish the roles and duties assigned to each employee, contractor and agency.
Don’t forget that marketing strategy is also a weapon against your competitors, as it draws guidelines on how to secure and improve your business.
So what is a marketing strategy? According to its definition, marketing strategy is a long-term, forward-looking approach to planning with the fundamental goal of achieving a sustainable competitive advantage. And why do we need a marketing strategy and what benefits you can get from creating an efficient one?
1. Clear Guidelines
First and the most important role of a sustainable marketing strategy is that it sets clear tasks and objectives. It coordinates you, your team and your business towards the goal that your business aims to achieve at that particular time.
What exactly? How to boost the traffic to your website? How to sell this or that product? What methods and tasks to include in your workflow to achieve the desired result? To answer all these questions you need a focused approach regarding your goal. You need step-by-step instructions on what to do. Here, your marketing strategy is the immediate tool to answer these questions.
2. Division of Roles
With a good marketing strategy you will be able to divide the whole strategy and project, into small manageable tasks, and what is more important, you will have certain duties attached to each employee, contractor or agency. This way every person will have a unique role in the accomplishment of the task.
3. Weapon against Competitors
Your company doesn’t have a marketing strategy? Then your competitors are ready to crush you at a drop of a hat!
Despite the rapid technological growth and development, this century also led to a crisis of ideas and innovations. It’s really hard to be an innovator or a path-blazer because it seems that every interesting idea and beginning has already been realized. Thus, if you introduce something new or unique, you have to fight for your so-called “author’s right” no matter if it’s a piece of clothing, a brand new website building site or a professional service.
“Drastic times call for drastic measures”, they say. What do you need? You need a bold strategy against your competitors! A clear roadmap of what to do and how to secure your company from becoming a dead ringer!
4. Better understand your Customer
Marketing strategy also helps you determine your target market. Market segmentation is crucial in order to precisely establish a relevant audience for your business. After all, to satisfy the needs of your customer you need to understand what they, really need. Analytical tools depict only the technical part of the issue and not the emotional one. For example, Google analytics or any other similar tools give you strict and straightforward information about your traffic. But they do not convey the emotions and the attitude of the customer.
In order not to go down like a lead balloon in the eyes of your customers, you need to dive deeper. You need to frame a special scheme of a customer relationship, to get insight on their attitude, mood and behaviour towards your company and business.
5. Allocate Sufficient Resources
A marketing strategy is a step-by-step plan regarding your budgets, resources and the actions necessary to implement to strategy. Without a clear plan, you will not be able to use your resources efficiently. Hence, a marketing strategy is also a tool for sufficient allocation of resources.
When considering a long-term strategic plan you will be able to determine how many resources you will need to allocate to your business. This will give you clues to more subtle questions like whether you will need to hire more staff, employ a contractor, allocate additional marketing budget etc. Of course, you should consider implementing cost-effective marketing methods, which will reduce your expenditures and yield a higher profit.
6. More Professional Business
The ability to let your customers find your products and services is very important because it conveys a clear message to your customers: you are there to satisfy their needs. In order for your customers to always stay up to your news, you need to have a good marketing channel. This is a whole chain of actions needed to complete to successfully deliver your product to the customer. Marketing strategy directly involves this task.
Having a strong promotional strategy that constantly reminds your customers of you being there is crucial. A personalized approach towards every single customer will build a strong loyalty towards your company, thus making your customers become brand evangelists, promoting you to others.
Need to know more about putting a strategy in place for your business?