4 Principles of Marketing Strategies
Digitization has turned the tables for marketers and advertisers. Life used to be a lot simpler back in the days. Constant evolution of technology has blurred the lines between the offline and online world. Businesses are now in a race to develop and deploy strategies that are more immersive and engaging. The world has become a playground.
But before formulating a marketing strategy, it is essential to understand and implement the following 4 golden principles:
What are your business objectives?
This is one of the basic questions that you as a strategist need to ask yourself. This will give you better clarity in terms of creating a core marketing plan. Everything else that you will do will revolves around this plan.
Instead of trying to target everything and everyone at once, try to find a niche and own it.
Find a niche and carve it:
Instead of trying to target everything and everyone at once, try to find a niche and own it. Don’t spread yourself too thin. Focus is everything, especially when you are just starting out. Focusing your marketing strategies and efforts on a smaller niche will make a larger impact. This can significantly improve the results as well as lower initial costs.
Another benefit of targeting a specific niche is that it makes it easier to conduct A/B split testing. Once you are confident in your plan, you can deploy it to a wider market.
Find a unique angle:
What is your Unique Selling Point (USP)? There is a growing need for businesses to have a unique angle to their business idea. This will help your prospects understand what you are offering them and how it is better than the competition.
Developing and training a team:
It is difficult to run a business. There are so many facets to it. You need to oversee product development, attend events, meet people, take care of marketing and advertising campaigns, handle financial matters, identify and work on new opportunities, take out some time for yourself and your family, and so. It can be a daunting task.
What you need to do from early on is to develop and train a team of employees that you can rely on. Building an effective team takes time. You may need to hire, fire, rehire, and retrain employees several times before you will have a team that you can trust. There is nothing more difficult for a manager than when they have to get rid of someone but sometimes it must happen and is part of the job. Sometimes someone just does not have the personality to fit inside a team unit. Former football receiver TO knows all about this.
The sooner you start the better, because once your campaign takes off, things can pick up quickly and you need to have a support system in place.
No matter the industry you have chosen or the product you have developed, your prospects are going to research online even before they approach you. There are different ways a potential customer can research online; he might search google for competition and reviews, visit YouTube to check out an unboxing and demo video, find hashtags on social media sites like Facebook and Twitter or read their favorite blogs and participate in the comments. Some customers like to be thorough and search multiple outlets before making a concrete decision.
This requires you to maintain a strong Internet presence. Your business needs to be everywhere. And this does not just means creating engaging content and uploading it day in day out, you need to engage with the prospects, answer their questions, spark their imagination or interest, and guide them through the checkout process.
These 4 marketing strategies will help you on your quest to conquer and dominate your chosen and respective industry.