How to write a Marketing Strategy in 6 simple steps
Plan for success with the right marketing strategy to drive your business forward
Marketing is fundamental to the success of any business.
But despite being the driving force behind getting new and returning customers through your doors, marketing can often be an afterthought.
This is where a marketing strategy comes in.
What is a marketing strategy?
As an integral part of your business plan, your marketing strategy is where you describe how you will promote and sell your products and services.
An effective marketing strategy outlines the steps you should follow to beat the competition, increase your sales, and boost your profits.
And good news if you’re feeling pushed for time — it’s easier than you think to get started!
How to write a marketing strategy in 6 simple steps
Start with these basics and you’ll be up and running with a robust marketing strategy in no time.
#1: Define your USP
The first step in your marketing strategy should be to define your unique selling proposition (USP).
Think about what differentiates you from your competitors, and how your products or services solve a problem or meet a need better than anyone else.
#2: Know your customers
Now you know your USP, who is the ideal audience for what you offer? To help build a picture of who you want to market to, think about the demographics and lifestyle of your target customers.
Why? Having specific marketing personas in mind will help you get the right message across as you build your marketing campaigns. Think about what matters most to them, and how your product or service can help to enrich their life.
#3: Set marketing goals
What are you hoping to achieve with your marketing efforts? To help keep your business on the right path you should create a series of specific, realistic and measurable marketing goals, for both the short term and the long term.
#4: Conduct market research and competition analysis
Knowing your industry inside and out is essential before any marketing push!
If you’re not sure where to start, conducting a SWOT analysis is a great beginner’s step to understanding your market and your competitors. Look at what others in your industry are doing well, and what they’re doing badly, to see if you can identify any untapped opportunities.
#5: Research marketing tactics
Now for the really fun part! It’s time to decide how you will reach your prospects and how you will accomplish the marketing goals you set out earlier.
When you’re creating your tactics, think about how you will successfully target new customers and also keep existing customers interested in your products and services.
#6: Set a marketing budget
The final piece of your marketing strategy is to define your budget. Make sure the budget you allocate supports your marketing goals and gives you enough money to accomplish them. And it’s always a good idea to build in a contingency, just in case your goals or your tactics should change in the future.
Your marketing strategy can be as simple or as detailed as you like, depending on the needs of your business. By following the simple steps above, you’ll create an effective marketing strategy that will serve you well both now and for years to come.
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