Creating a marketing strategy is key to effectively training your customers, improving your business results, and maximizing the investment of your efforts.
A marketing plan is especially important if you want to take advantage of the most profitable trends for 2023: short videos, impact advertising and brand social media. In order to achieve strong results, you must carefully incorporate emerging trends and proven strategies into your strategy.
Let’s dive into the most important part of the complete marketing strategy in 2023, followed by some inspiring examples.
A marketing plan is a comprehensive, structured plan for a company’s promotional efforts across various platforms and channels. A marketing plan often includes goals, target audience profiles, content creation strategies, key performance indicators, and more. The marketing plan will:
Organize your team with specific goals.
Help you align your efforts with business goals. Get to know and test what resonates with your target audience.
Make sure you get the most out of the process. The latter is especially important for the coming year. Tracking marketing trends is important to your strategy, but it can be a full-time job. Why? Because in one year, we have seen a huge change in short video content; the rise and fall of new platforms (looking at you, Meta); and the ongoing impact of the global pandemic. In short, what worked for your marketing strategy in the past may not work today.
In order to succeed in the fast-paced world of marketing – and maintain the influence of your audience – it is important to stay one step ahead. To help reduce some of that uncertainty, we’ll show you step-by-step how to create a marketing plan that leaves no stone unturned. But first, let’s look at one aspect that makes up a strong business plan.
Aspects of Marketing Strategy: The Marketing Mix
The marketing mix, also known as the 4 Ps of marketing, is the basic document you need to create to understand what to sell, where to sell it, and how to market it. The following ps make up the process:
Product: What do you sell?
Price: What is the price? Location: Where will you sell the product?
Promotion: Where will you promote the product? You can turn this information into a comprehensive marketing plan for any promotional channel. It is important to present the information in broad strokes to understand the general direction of your marketing plan. Marketing vs. Advertising: 7 Key Differences You Should Understand
You can define your marketing objectives in conjunction with your 4 Ps, or right after. In any case, you must define your marketing goals before creating your strategy. Why? Because your goals will inform other aspects of the plan, including budget and content creation process.
For each objective, you should aim to be as specific as possible. Try creating SMART marketing goals that are broken down by channel or support method, and remember that you can always go back and adjust your goals as priorities change.
Aspects of Marketing Strategy: Marketing Budget
Budgeting is an important part of your plan. Without funding to hire the right talent, use the right software, advertise on the right channels, and create the right content, your marketing strategy will not be effective. To get a great return on investment, you have to invest first.
Remember, you can start small – focusing your budget on one or two efforts – and build on that once you’ve generated a return on investment.
4. Competitive Analysis
Knowing your competitors is important when creating a marketing strategy. Otherwise, you can “shout into the void” without any results. What’s worse, you won’t know if you’re setting yourself apart from the competition enough and capturing the attention of your target audience. You may already have an idea of who your competitors are, but it’s still important to sit down and get to know them. You may end up discovering a surprise competitor that demands your buyer’s attention and involvement.
5. Division, Separation and Rank
Marketing strategy components: audience segmentation, targeting and positioning
Segmentation, attention and positioning (STP) refers to the process of sending “relevant and personalized messages to the target audience”. In other words, instead of publishing posts and ads on a whim, you have to follow a systematic process to create interesting content. Why D
During the separation, separation and processing process, you will follow three steps:
Identify your target audience. This process involves not only interviewing your current customers, but also conducting market research and generating potential customers. Protect a segment of your audience. It is better to speak to a select group of qualified buyers than to send your message to everyone. Position your brand in relation to other brands. What do you do better than your competitors? It is important to document this information when creating a marketing plans.
Once you have your budget, competitive mindset, and STP information, now is the time to move on to the most important step: creating your marketing content. But it is important to make this effort systematically. On the one hand, you don’t want to post random content that doesn’t satisfy the customer, and on the other hand, you should be looking to capitalize on emerging trends so that your brand can get big. market visibility.
The competition is fierce in all categories. According to HubSpot Research, “Half of marketers use video, 47% use images, followed by 33% blog posts, infographics (30%) and podcasts or other audio content (28%).” Of these, video has the highest ROI.
Investing in strategies with a high ROI, such as short videos, influencers, and social media, is more important.
That doesn’t mean you shouldn’t invest in blogging, one of the proven content marketing techniques. It is important to know where to allocate the most money, especially if you have a limited budget.
Metrics and Key Performance Indicators (KPI)
Last but not least, your marketing plan should include metrics and KPIs to understand how well your plan is working. The KPIs you choose will vary depending on your business model and your preferred customer acquisition channels. Here are examples of KPIs:
- Customer Acquisition Cost (CAC)
- Organic traffic
- Conversion rate
- Marketing Qualified Leads (MQL)
- Now let’s see why it is important to follow the steps of a marketing strategy.
The importance of the stages of a customer-focused marketing strategy
A robust marketing strategy will reach your target audience – this includes those who have never heard of your brand through to regular customers. Without a set method, you have to throw things at the wall to see what hits. It also costs you a lot of time and resources. There are seven main steps to creating a successful marketing plan: Develop your marketing plan, create your buyer persona, identify your target, choose tools, evaluate your current resources, analyze and plan advertising campaigns, n ‘Finally, break your plans.
Develop a marketing plan. Wait, should I plan for my plan? What’s the difference? Your marketing strategy defines why your sales team will want certain resources, take certain actions, and set certain goals throughout the year. Your marketing plan is the specific actions you will take to achieve this plan. The right template can help you create a marketing plan that identifies your budget for the year, the strategies your marketing agency should support, and the marketing channels you will use to implement those strategies.
In addition, it will integrate everything in the business summary, to make you align with all business goals.
2. Create Buyers
If you can’t describe your target audience in one sentence, now is your chance to do so. A buyer persona is a picture of your ideal customer. For example, a store like Macy’s might describe a customer as Budgeting Belinda, an attractive, working woman in her 30s who lives in the suburbs and wants to fill her bedroom with people cheap design.
With this description, Macy’s marketing department can imagine Belinda’s budget and work with clarity. Consumers have demographic and psychographic information, including age, job title, income, location, interests and challenges. Notice how Belinda has all these characteristics in her description. You don’t have to use pen and paper to create your buyer persona.
In fact, HubSpot has free templates you can use to create your own (and it’s really fun). You can also use a platform like Versium, which helps you identify, understand, and reach your audience through data and intelligence.
Consumers should be at the center of building your strategy.
Identify Your Goals
The purpose of your marketing plan should reflect your business goals.
For example, if one of your business goals is to have 300 people attend your annual conference in three months, your goal as a marketer should be to increase online registrations by and 10% from the end of the month to stay on track. Other marketing goals may be to increase brand awareness or generate higher leads. You may also want to develop or maintain leadership in your company or increase customer value. Whatever your goals are, figure them out and how your marketing department can work to achieve them in the coming year.
Select the Appropriate Device
Once you’ve identified your goals, make sure you have the right tools to measure the success of those goals. Online tools like social media planners provide you with analytics to help you track your audience’s likes and dislikes. Alternatively, you can consider Google Analytics to measure blog and web performance.