Creating a workable brand marketing strategy is the most crucial step towards your business’ success. A study by the Content Marketing Institute reveals some facts about business to business (B2B) marketers. According to the institute, 43 percent of B2B marketers have a workable marketing strategy while 21 percent of marketers are running their business without any business plan. The remaining 32 percent of marketers have a good marketing strategy in mind but have not materialized it. Below are 5 factors to consider before building your marketing plan.
1.Your Company’s Situation:
When coming up with a marketing plan, you first need to analyze the current situation of your firm or brand. The services your company offers, the goals and objectives of your firm, your selling point, and all your products need to be a part of this analysis. This analysis is often referred to as a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis. You need to understand your competitors, and what they are doing wrong in business. This will enable you to avoid such mistakes and put up a healthy competition.
You need to understand your target customers, their needs, their inclinations, and their demographics. When marketing your business, you want to make sure you reach out to the correct audience. Your target audience shapes your business since they determine your marketing channels, your business language, and the kind of content your business airs.
Failure to understand your target customers will lead to a loss of resources. This is because you will be marketing your products to uninterested parties while your potential clients are still in the dark.
3.Your Brand Marketing Strategy Goals:
Your marketing goals and objectives ought to reflect your general business goals. Writing down your marketing goals keeps you on your toes. Every business decision you make, every strategy you implement, and every product/service you promote ought to always point to your goals. Running a business without well-articulated goals is a blind move and a risk you cannot afford to take.
4.Creating a Budget:
Use the money to get money is an unwritten rule of business that every marketer is well aware of. If you do not spend money on your business, your business on the other hand won’t be able to give you any money in return. However, you need to create a good budget for your marketing strategies to avoid overspending or misuse of capital. You need to determine favorable marketing strategies that will sever you in both the short and long term. The two most common marketing strategies are pay-per-click (PPC) and search engine optimization (SEO).
5.Your Business Model:
The model of your business determines whether you are running an eCommerce or not. If your business is an eCommerce model, your efforts are targeted towards digital marketing and channels. Tools like social media platforms, email marketing, SEO content, and keywords will be the daily dose of your business marketing strategies. According to Databox, over 32 percent of marketers approve of online communities as a promotion technique.
Creating a marketing plan is the first step toward business success. A business without a marketing plan is bound to face several challenges that could have been easily avoided. Contact us at GUIÓN PARTNERS, Inc. on 212-851-3730 for a well laid out brand marketing strategy. Our team of professionals is experienced in digital marketing, brand design, social media management, and several business marketing plans. Our award-winning group of professionals will work with you hand in hand to create a systematic plan leading your business to success.