How do you write a Marketing Strategy?

How to Write a Marketing Strategy

• Answer:

  Need to learn how to write a marketing strategy? Businesses require smart marketing strategy for all phases of growth. Follow these steps to write a marketing strategy to position your business for success. Difficulty: Moderate Things You'll Need Quiet place to think and research, and web access Instructions How to Write a Marketing Strategy Identify and learn more about your target audience. Single out a specific person your marketing will target. Write a detailed profile and determine what her needs are, and if she is buying your product or service for emotional or functional reasons. Determine the What, When Where, Why, and How of your product or service. Get a clear picture of why your target customer is buying, where she will buy it, how, and when she buys it. Find out more about her purchasing habits and what items she buys. If you don't have any customer data, then research the industry and competition to make conclusions. Check out the competition. Determine what makes them unique and what products and services they offer. Research your target audiences and industry to get a better understanding of their needs and issues. Develop your Unique Selling Proposition. List all your product/service benefits, and determine which elements make your business unique. Find or create a compelling difference from this list that will separate you from your competitors' offerings in the mind of your target audience. For example, you may have a rare item, more selection, higher quality, or faster turnaround. Consider potential marketing methods. There are paid and free ways to market your business. List all possible ways of marketing. For example, you can consider press releases, classified ads, radio, article marketing, blogging, billboards, etc. Select one or more marketing methods based on effectiveness and budget. Depending on your product/service and budget, some ways of marketing will make more sense for your business. Write a summarized marketing strategy in a few sentences using your marketing research and choices from Steps 1 to 6. Clearly answer the questions of Who, What, Why, Where, and How within a few paragraphs. Execute your marketing strategy with clear communication and goals. Track and test the effectiveness of your marketing campaigns so you can improve or discontinue the campaigns based on performance. Revise your marketing strategy occasionally or as needed. Tips & Warnings Tip: It's critical to understand your target audience so be thorough with Step 1 and revisit it often. It's important to track all your marketing campaigns for effectiveness. Test headlines and ad campaigns so you can optimize all your advertising with the highest performing ads in the best locations. Warning: Be realistic with your marketing strategy considering your business, goals and resources. Have practical and measurable targets and hold your business accountable to meet them.