What is a Marketing Strategy? It can be defined as “a process that allows you to focus your limited resources on the greatest opportunities to increase your visibility, revenue and revenue.”
A marketing strategy is characterized by a company’s strengths, opportunities and objectives and guides the more specific results of the marketing plan.
Part of running a successful business is growing it. Home-based businesses are no exception. In fact, it can be even more important if you are just starting out or missing a potential clientele. The key to a company’s growth is marketing.
Suppose you have the goal of registering 3 new customers in the next 30 days. You should then focus your time, energy and resources ONLY on the necessary tasks that will allow you to achieve this goal, and nothing else!
What are the ways through which one can ensure that your marketing plan will yield the results that you seek? By following the below mentioned points one can adapt their marketing strategies according to their needs :-
Identify the needs of your target market
If you have a company that is based on services, everything about solving the problems of your target market is to struggle with. To do this, you need to be clear about what they need and what you can do to eliminate their challenges.
For example, if you are a personal trainer, log in with what your prospects really need. It can be their goal to lose weight, strengthen strength, increase flexibility or just look better in the mirror.
In addition, you must be able to identify the source of the problem. As a personal trainer, what made your client gain weight? Is it eating too much, a health problem, or pure negligence? The image consultant can find that the real lack of trust lies in his client, who holds my hand and never has the opportunity to choose his own clothes when he grows up.
If you can identify the needs of your potential customers as well as the trigger point that motivates them to ask for your help, the next step in your marketing strategy will be easier to implement. All you need to do is to be in the places where they are looking for you, send the trigger point and deliver it the solution in a format in which they consume best.
Set a Budget
Many inexperienced entrepreneurs make a big mistake by starting their marketing efforts: they don’t set a budget. Without a budget, these business owners can easily see that all their profits are spent on marketing efforts.
Before you make a decision on the types of marketing methods you want to choose, you must first set the amount you can spend to get the desired results. Most companies use the 10% rule. According to this rule, if you have decided to set up a marketing program that would generate $5,000 in monthly sales, then you should only spend $500 a month on marketing.
The 10% rule prevents companies from spending more on marketing efforts than they generate. You also need to think about being realistic. If you currently generate $200 a week in revenue, don’t expect marketing results of $10,000 per month and use that figure as the basis for your marketing budget. Instead, start small and build on successful marketing attempts.
Understanding your strengths and weaknesses
Your strategy needs to take into account the impact of your company’s strengths and weaknesses on your marketing.
Start your marketing strategy paper with an honest and rigorous SWOT analysis by examining your strengths, weaknesses, opportunities, and threats. It is a good idea to conduct market research about your existing customers at this time as it will help you to create a more honest picture of your reputation in the market.
- Strengths could include:
- Personal and flexible customer service
- Special features or benefits that your product offers
- Expertise or knowledge
Weaknesses could include:
- Limited financial resources
- The lack of an established reputation
- Inefficient accounting systems
The possibilities can understand:
- Increased demand for a specific market sector
- Use of the Internet to open up new markets
- New technologies that allow you to improve the quality of the products
Threats may include:
- The emergence of a new competitor
- More sophisticated, attractive or cheaper versions of your product or service
- New legislation that will increase your costs
- Economic downturn, decline in aggregate demand
After Marketing Agency in Mumbai has done their analysis, you can then measure the potential impact that each item can have on your marketing strategy.
For example, if new regulations increase the cost of competition in a market where you are already weak, then you may want to look for other options. On the other hand, if you have a good reputation and your major competitor is in trouble, regulation could provide an opportunity to push aggressively for new customers.
Focus on specific marketing techniques
How does your target market consume information? As a marketing consultant, 60% of my work is done by telephone. 40% are opposed to each other. I also help my customers and audience by offering them a variety of options to learn from me in different formats. It is common for me to obtain information through:
- Webinar
- Tele-Seminar
- Articles on the Internet and in printed publications
- Blogging
- Social media platforms
- Networking
- Speak at events
Understand that I didn’t start with all this at once. In fact, I started with networking, blogs and tele-seminars offering. Over time, we’ve added to the others. You can model similar strategies with your company.
Find out where and how your audience talks about the solutions you offer. Then determine which methods I mentioned above (or others) allow you best to communicate with the people you can do your best work with. Master one method and then go to the next one.
Online Marketing Strategies
Interested people will go online to search for information about your business. That’s why it’s important that you control what they find. All avenues in the world of online marketing lead to these three steps:
- Retrieving traffic to your website
- Save visitor’s name and email address
- Stay in touch to develop a relationship and present appropriate offers for products and services.
Whatever you do to market your business online, make sure it supports this three-way approach. If the platform, tool or methodology does not support these efforts, don’t waste time.
Offline Marketing Strategies
There are many ways to expand your online business, but that doesn’t mean you should ignore proven and real offline marketing strategies.
Where do you start? Consider actively participating in a network group that targets your ideal customers. You can also follow speaking opportunities within these groups, as well as control organizations and associations. Identify who else offers complementary services for your target market and develop referral relationships with these people. You can send targeted direct programming campaigns to pre-qualified people and make them an irresistible offer to “taste” your services. You can always ask for recommendations from current and past customers.
There are many strategies for Local Marketing Agency in Mumbai to choose from. Everything you follow depends entirely on the S.M.A.R.T. goals you have set for yourself and your business.
Resist the urge to tackle a variety of strategies at the same time. You get much better results by focusing on consistent pursuit of 2-3 strategies. Consistency is KEY and makes the difference to make sure you stay in the eye of your audience.
Now you are able to create your own marketing strategy to build a solid base of potential customers. Get him! Show where your audience is already looking for you and solve your problems!
Most importantly, consider your audience as well. If you do marketing at companies, your methods will be different when you do marketing with consumers. When you sell to parents, your methods are different than when you sell to students. You may even need to develop more than one method to meet the needs of your potential audiences.
Once you’ve completed these preliminary efforts, you can begin to explore more effectively the marketing methods that will allow you to choose the methods that should provide the best results for your particular business.