Have you just started your business and are wondering how to attract and retain your customers? Before you start, think about putting your action plan in place by developing your marketing strategy with help of a brand strategist.
What is a marketing strategy? What is its use? How to implement an effective marketing strategy? Legal start supports you by providing you with the different stages of developing a successful marketing strategy
Marketing strategy: what definition?
The marketing strategy makes it possible to study the way in which a company is likely to integrate a given market.
More simply, it is the implementation of an action plan allowing the company to find customers and ensure their long-term loyalty. The marketing strategy, therefore, consists, for the company, in adapting the sale of its products and services to the needs of its customers!
How to develop your marketing strategy?
Step 1: strategic marketing analysis
The effectiveness of a marketing strategy is essentially based on the study and understanding of the target market. Also, before embarking on the development of its commercial from a brand consultant, it is essential to proceed with the method known as the marketing mix. This method makes it possible to highlight and analyze the following 4 major factors:
The product: to establish a coherent marketing strategy, it is important to know and know how to praise the different advantages and characteristics of the services offered.
The price: the selling price of the company’s products and services must be adapted to the quality of the services as well as to the target clientele. The price is one of the essential components of the company’s financial strategy.
Distribution: the distribution strategy is essential. It makes it possible to define the marketing positioning of the company by determining the most relevant sales channels (physical store or e-shop, sale via distributors or other intermediaries).
It is, therefore, necessary to take into consideration the desires and needs of the target clientele to successfully get them to make the purchase.
Step 2: determining marketing objectives
To set up a strategic and operational marketing policy, it is important to set objectives. The interest of the objectives is that they allow having a precise vision of the result to be achieved and the way in which to achieve this result.
The marketing strategy through trade advertising must be put in place in a thoughtful way. As such, an action plan should be established over time with short-term (weekly, monthly), medium-term (quarterly), and long-term (annual) objectives.
In marketing, the objectives can be quantified in particular with regard to:
- Sales volume.
- Of sales.
- Market shares.
Note: it is important to set goals that are measurable, sufficiently ambitious, and achievable.
Step 3: setting up the marketing plan
When implementing the marketing plan, it is essential to involve all the employees. In fact, there is nothing better than gathering the opinions of the various business lines to strengthen the company’s strategy.
On the other hand, throughout the implementation of the marketing strategy. It is essential to regularly analyze the results obtained, to report on the effectiveness of the plan.
In the event of difficulty in achieving the objectives or in the event of unforeseen events. It is thanks to a real follow-up. Accompanied by the correction and adjustment of any difficulties the marketing plan will truly become a winner!
Focus on the digital marketing strategy
Today, most of the meeting between companies and customers takes place via the Internet.
Strategic digital marketing covers different dimensions including publication on social networks. Creation of banners displays advertising positioning on search engines, inbound, etc.
To manage your digital strategy. It can be interesting, even essential in some cases. To turn to market tools intended, for example, to carry out emailing and tracking campaigns.