It’s surprising but true that not every business believes in the importance of a marketing strategy. Some may think it’s too complicated while others will say it’s not really relevant to their business and they’re doing just fine without one. But is doing just fine really going to make you an industry leader? No, not really.
First of all, what is a marketing strategy? A marketing strategy is, in effect, a detailed set of objectives and goals achieved through a strategic set of planned actions. In other words, it’s pretty much the opposite of carrying out unplanned, ad-hoc tasks that can be quite damaging to your communications, your brand, your position in your industry and ultimately your business. Why? We'll it's probably easier and more positive to outline the list of benefits that a great marketing strategy will have on your business.
A structured, well-thought out marketing strategy will help your business to:
- Understand your market, trends, customers and competition to make more informed decisions going forward
- Build a series of planned, consistent marketing messages and communications that aren’t going to be confusing to your target audience but rather the opposite
- Generate a strong level of engagement with customers and potential prospects
- Build a strong brand, one that customers can relate to and trust
- Establish a stronger, more dominant market position that will encourage more customers to have faith in your products and services
- Plan resources in line with your strategy. If you know you are going to be boosting sales figures, you may need a few more pairs of hands to help manage the bigger workload
- Allocate budgets based on planned activities, avoiding waste and any nasty unexpected surprises
- A proven ROI as set objectives can be measured against results
- A clearer message to employees which will also benefit sales figures, morale etc.
If you previously thought a marketing strategy wasn’t really relevant for your business but we’ve managed to convince you otherwise – Why not get in touch with us to see how we can help to formulate a strategic plan, whether it’s to boost sales growth or enhance brand awareness, we can help! Get in touch today.