How Do I Develop a Marketing Strategy?
When it comes to developing a marketing strategy, there are many things to take into consideration. A marketing strategy is important because it assists companies in discovering the areas affected by organizational growth and therefore assists in creating a plan to cater to the needs of the company. By asking yourself the right questions, and using market research, an organization is able to find the right market for its goods and/or services.
Start By Asking Yourself These Questions
When it comes to setting goals, it is important to ensure that they are “SMART.” SMART goals are specific, measurable, achievable, relevant, and timely. For a goal to be achieved, they need to be well planned and thoughtful.
What are my Key Goals?
In marketing, goals are set to ensure you’re working towards something. Some examples of reasons organizations may set goals to include:
- Increase sales
- Build brand awareness
- Grow market share
- Launch new products or services
- Target new customers
- Enter new markets
- Improve stakeholder engagement and relationships
What is my Budget?
When it comes to determining a marketing budget there are many factors to consider, the biggest being, what can we realistically afford, while remaining competitive?
Ensure you do your research to determine what budget needs to be allocated in order to achieve the goals you’ve set for your business. It is quite possible that you may adjust your goals based on what your budget research tells you; you may increase your budget, or you may think about decreasing it!
When do I Want to Achieve these Goals?
Having a rough time frame for when you want to achieve your goals is a key component of developing your strategy. It allows for benchmarks to be placed and set. Some goals take much longer to reach than others and the right amount of time needs to be allocated towards them. A strategy to keep in mind when designing a marketing plan is to have an outline of what needs to be accomplished and by when. This will help you determine when it is time to ramp up and ramp down your efforts.
The Best Outlets or Methods to Use
The best platforms or methods to employ are dependent on what the desired outcome may be. This is why we define our goals early on in the process! If there are multiple goals you’re working towards, such as both brand awareness and product sales, you would want to consider a few platforms and methods to achieve these goals.
When choosing the right platform, it is useful to be knowledgeable in the following:
- Search Engine Optimization
- Public Relations
- Media Buying
- Google Ads
- Facebook and Instagram Ads
- Website Analytics
- Social media
Being educated on these platforms can be difficult, but with Jelly Academy it does not have to be. Jelly Academy presents the opportunity to provide your company with the benefit of amplifying your project goals. Visit our course information page today for more information.
Category: Business Services , Marketing