You may be wondering the best way to go about creating an effective marketing strategy. Let’s start with the basics. A marketing strategy is the means for reaching an end goal. It is how you work towards meeting marketing goals that were set by your CEO or company. Your marketing strategy will only be successful if you have the proper structure in place. So let’s dive in!

Here are 7 steps to a successful marketing strategy for your business!

#1 The 4 Ps

First, it’s important, to begin with, what is being sold in the first place. What is the price that this product or service will be sold for? Next what platforms will you need to sell it and where will it be sold? Is there a specific location that needs to be involved? These are important questions that need to be answered first. 

#2 Buyer Personas

To have an effective marketing strategy it’s important to first take a look at who your strategy will be geared towards. Who is your niche audience or target market? Identifying this first will help you build out a structured game plan that will work for your specific audience. 

#3 Competitive Analysis

Now that you have more structure it’s important to dive into competitive analysis. Do research to find out where they’re capitalizing on the following, digital marketing channels, promotions, lead generators, ad campaigns, messaging, price, influencer marketing, SEO, and content marketing. This will help inform your process and save time. For example, if your competitors are on Instagram, determine if this would benefit you or if there’s a better platform that will help you grow more quickly. Begin looking for where they’re missing out. This will help you to create well-informed funnels that won’t lose over 50% of your leads due to lack of oversight. Stay original! How can you take an idea or strategy from your competitors and make it better? Don’t replicate instead be inventive. 

#4 Develop Marketing Objectives

At this point in the process, it’s important to establish your goals for your marketing strategy. How much do you need to sell and why? Are there specific goals for this product or service launch? Identifying answers to these questions will inform the rest of your strategy.

#5 Marketing Budget

A marketing budget is crucial when it comes to planning. You are only able to do as much as you have money budgeted for. This becomes important in the process because it will help you decide which streams or channels make the most sense based on how much ad spend or money you have budgeted. 

#6 Digital Marketing Channels 

This step is important in the process. Do research to inform your final decisions for this process. First, it’s important to establish which platforms would work best for your buyer personas. Which platforms do they spend the most time on? This could have a range of answers from blogs, to Pinterest, TikTok, etc. What types of content do they prefer to consume? After creating a comprehensive list of priority platforms and types of content, you’ll need to decide where to distribute money on ads spend. For example, if your target niche consumes Instagram video content the most, you’ll want to invest in Instagram video ads in addition to your organic content. 

#7 Measurement, Analytics, & Optimization

This step is one most marketers and business owners forget. Despite it being one of the most important steps to ensuring success. You’ll want to identify your KPIs (key performance indicators) for your marketing strategy. Your KPIs could include, form fills, downloads, page views, returning, users, link clicks, saves, shares, etc. You’ll want to create KPIs for each stage of your marketing funnel to properly track success. Next, determine what type of analytics you’ll need to track your KPIs. I strongly suggest Google Analytics 4, Google Search Console, Meta Analytics, Looker Studio (showcases analytics), and Google Optimize (while it is still enabled). Once you’ve established where you will track your analytics, you’re set up to begin optimizing. I would check in on metrics weekly and report monthly or biweekly on results to keep on track with the goals you’ve established for your marketing strategy!

There you go! Have at it and good luck!
If you have questions on building a marketing strategy for your business fill out my “Get Quote” inquiry form to connect or learn more about Rebekah Marketing here!