How to Develop a Marketing Strategy

How to Develop a Marketing Strategy

By: Elysa Leonard

You know your company’s goals, and you work every day to get closer and closer to achieving these goals. Whether you want to build revenue, promote your brand, or perfect your customers’ experience, everything you do as a company is decided according to these goals. And what do you do to reach these goals? Develop a marketing strategy.

Just like you have a strategy for your finances and business development, so too should you have a strategy for your marketing. You wouldn’t just “wing” next year’s expenses, so why would you “wing” your next advertising campaign either? Here are a few tips for developing an organized and effective marketing strategy.

Four Tips To Developing A Marketing Strategy:

1. Decide what you want

While this may seem obvious, it is important to remember that like any strategy, the purpose of your marketing strategy is to drive action. Figure out what you want your audience to do. Do you want new customers to buy into your product or service, or do you want to strengthen the loyalty of your current customers? Do you want to increase your customer base, or optimize it according to a specific area or demographic? Once you figure what exactly you want out of your marketing, you’ll have a better idea of what kind of advertising will be best suited for the job.

2. Decide your budget

Again, this may seem obvious, but it is often a step overlooked by companies. If you have an idea of how much you want to spend on a campaign, stick to that number! Don’t go for the cheap route if it’s going to cost you quality, and don’t get too ambitious if you feel like you won’t be able to pay for your ads. Decide on a number, decide how much wiggle-room you’re going to allow, and then decide which kind of advertising is optimal in both price and quality.

3. Decide your timeframe

Just as you would with your yearly expenses, figure out your dates and deadlines before you begin your marketing campaign. Decide how much time you need to give your marketing support, and allow plenty of time for the creation and implementation of your campaign. You can often save a lot of time and headache if you start the creation process well before your intended launch date, and the quality of the finished product will be much better as well!

4. Decide your level of involvement

Finally, figure out how involved you want to be in the creation and implementation of your marketing campaign. Do you want to have a say in every step of the process? Or would you rather leave it in capable hands? Keep in mind that the more involved you wish to be, the more time and money may be required of you.

If you are still apprehensive about devising an effective marketing strategy, Splash is here to help! Call us today to set up a consultation, and we’ll make sure your next marketing strategy will get you exactly what you’re looking for!

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