A Successful Marketing Strategy: 5 Things you need to know

marketing strategy-what you need to know

A marketing strategy is a business’s overall process of how it will reach its potential audience and turn them into new customers of its product and services. That being said, having a strategic and effective marketing strategy in place is one of the best marketing tools you can use.

In this post, I will talk about 5 things you need to know before creating a successful marketing strategy for your business.

1. What is Your Business Category?

Don’t be confused by the business category. It’s simply a short description of what business you are in. 

For example, the category of your business might be Foodservice, Health practitioner, Business services, Distributor of finished goods, manufacturers, Supplier of raw materials, etc

Whatever your business is, you have to make it known to yourself, yes! You heard me right! Make it known to yourself.

2. Who is Your Target Customer?

Your target customer is the ideal person(s) you want to attract to your product or service through your marketing campaigns. So the first decision you should make when creating your marketing strategy is to define your target customer. 

Who do you serve?. What qualities do you think your customers share?. What will make your customers search for a solution like your product or service?. What do you think will be the reason they buy your product or hire your service?. What will your customers gain by choosing you (instead of your competition)?. What is the platform your potential customers use?.

This takes time to develop(though it’s simple), but you can’t do effective marketing without it. 

I have seen many spend time and money marketing their product and services yet they are not driving enough sales. This is because almost always most people don’t narrow their target market definition enough to be effective.

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3. What is Your Unique Benefit?

Being special and different creates loyalty both from your potential and current customer and will help you get more referrals on an ongoing basis–that is if you are regularly asking with a referral system.

Your unique benefit should state one (or two) main things your product or service sincerely delivers (benefits) that your target customer really wants, not a long list of all the things your product does (features).

So thinking of how to be unique the here is the seven different traits to make your business different from your competitors.

4. Who is Your Competition?

Your competitor is(are) anyone operating in the same market as you that offers a similar product or service to yours. So When someone is looking to buy a solution to a problem, they will also look into your competitors as alternatives to compare against before making a final decision.

Learning how to identify your competitors is very important because if you can’t identify your competitors and their marketing tactics, you’ll struggle to differentiate yourself, your product and your service from the crowd.

Think for a minute, Think beyond your core direct competitors., Think of other alternatives your organization can be unique and indirect to your competitors

5. How are you clearly different from your competitors?

There are many things that your business does in the same way as your competitor. They create their products and services in the same or similar way as yours. Also, they market their products and services in the same or similar way as yours. They are targeting the same or similar customers as yours.

However, most entrepreneurs don’t really specifically define who their real competition is (as mentioned in number 4 above) and don’t focus their messages to create it clear for their customers to know the difference between them and their competitors. This frustrates the buying decision process and makes your marketing efforts weaker. Don’t be that type of entrepreneur, go learn how to differentiate your business from your competitors.

Now you have gotten the key things to consider when creating a successful marketing strategy for your business. Is now time for you to go and design that beautiful strategy of yours and share it with us. WE ARE WAITING!

For all your business website design and development, and social media marketing, kindly contact us and we will be glad to hear from you.

A Web Developer and Digital Marketer from Nigerian who is in love with learning, teaching and helping startups and small business owners build confidence.

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