A marketing strategy is the steps you take from a marketing idea through planning, design and implementation and finally to results.
Objectives and goals are critical to a successful strategy
You need to determine results you can measure.
You can start creating a marketing strategy with an idea, a marketing item, another marketing strategy or a marketing campaign.
You can build simple marketing strategies that only involve a single customer interaction. Or you can create complex marketing strategies with many customer interactions.
The steps needed in a market strategy are the following
- Define Objective
- Initial research and brainstorming
- Set SMART goals
- Pick your marketing element(s), item(s) and tactic(s) to use.
- Determine resources needed and perform any additional research
- Full implementation of the strategy
- Monitor and track the strategy in motion
- Analyse results – compare against goals and overall objectives
- Make adjustments and move forward – to repeat strategy or to find a new strategy
Good marketing strategies are eternal, there is no real end. They simply evolve. You grow, learn and adapt. Keep doing them until you have something better – until the ROI diminishes. Keep testing and tracking – and making adjustments as you move forward.
A business usually needs separate marketing strategies for key areas such as creating awareness and bringing in new customers, closing sales to existing prospects, or to getting existing clients to buy more.