Achieving business growth requires a lot of planning and strategies. It requires developing effective marketing and strategic planning which will help to proceed forward step by step in achieving set goals. Many businesses find it difficult to devise a marketing strategy. The article will be helpful to them as it shows the way to create a successful marketing strategy.
Build a Marketing Plan
The marketing plan is a draft that will discuss specific actions to achieve marketing strategy. The marketing plan is helpful to the marketing team as they will clearly understand their arena of operations in terms of budget, administration, operations, finance, human resources, and others. It is a short-term plan while marketing strategy is a long-term plan.
Create Buyer Personas
To define an effective marketing plan, you must first identify your key consumer segments and target audience. Identifying the target audience or consumer segments is the initial task of developing a marketing strategy. How to identify the key consumer segment and target audience? The best way is to directly interact with them. With the help of a proficient digital marketing company, you will be able to understand the key target market and buyer persona.
Your business’s target market will be the people who would like to interact with your online posts and social media promotions. Many social media platforms allow marketers to target audiences by interests and demography. This way you will be able to understand whom you should target to sell the products and services successfully.
If you can successfully identify the buyer persona, you would be required to develop strategies and modify products and services to influence their purchase decision positively. But before that, you must identify your business goals. If you consider your key business goal as driving business growth, you should identify how much business growth you want to achieve in the next year and five years in terms of revenue.
Apart from this, you also identify other aspects of achieving growth in your marketing strategy plan. Suppose, you want to achieve business growth by increasing brand awareness through online promotion. In that context, you have to calculate how much productivity a digital marketing company will help you achieve, say 10% business growth in the next year. This way the goals should include all the key aspects to meet certain criteria.
Select the Appropriate Tools
To facilitate the operations of digital marketing promotions, you would require to access Google Analytics, Google Adsense, SEMRush, and other tools. Integrating digital marketing operations with these tools will help you access a high degree of accountability. This way you will be able to track the success and failure of a digital marketing campaign in enhancing your business growth.
Review Your Media
To achieve business growth, you might need to use various online and offline media. These media can be categorized into three segments such as paid media, owned media, and earned media.
Paid Media: You would be paying for accessing services from these media. These paid media are television, direct mail, social media channels, search engines, and websites.
Owned Media: These media must be owned by your marketing team. It can be images, videos, infographics, ebooks, podcasts, and others.
Earned Media: This media is known as user-generated content. Tweets, shares on social media, and other user-generated contents are the key examples of earned media.
Suppose, you developed a blog (owned media) and posted it on your social media (paid media). The users would share the blog and comment (earned media) in the comment section. This way you must keep track of all the media used in the process of generating high business growth. The process followed in this strategy must be simple and easy to manage. You should document it effectively so that the marketing team can keep track of each phase of the progress effectively.
Audit and Plan Media Campaign
The key aspect of promoting your business is running a successful media campaign. How would you do that? The key lies in the effectiveness of a digital marketing company to run the campaign. However, the process is simple. You must have adequate planning in place for that.
Suppose, you want to run an integrated social media campaign for your business. You must create good quality blogs for timely posting on social media. These blogs must have effective hashtags and information to be reckoned with in various social groups. You must integrate shared posts with other social media platforms available such as Twitter, LinkedIn, Instagram, and others to offer it a maximum reach.
Your marketing team must assess the performance of the campaign and review it effectively. If it fails to meet your expectation, your team would come up with better alternatives and suggestions to make the next campaign more effective. This way you must engage in auditing and planning different media campaigns.
Bring it To Fruition
In this stage of marketing strategy planning, you must implement all the strategies developed for accessing media, auditing, planning campaigns, deploying teams, and taking the help of digital marketing companies to help you achieve that. Remember that a marketing strategy planning must have a clear vision. The planning should be for at least 12 months. This way you will be able to identify various pros and cons present in the planning process and challenge to overcome in strategic implementation. This process will lead to successful strategic management for implementing a marketing strategy for business growth.
In managing all these stages of marketing strategy development and implementation, you must be able to understand the financial aspects of it. Cost plays a key role in ensuring strategic success. When you assess the effectiveness of the strategy from a financial perspective, you would not repeat the practices that didn’t do well. This will lead to making the strategies more effective and practical.