Developing a marketing strategy is vital for any business. Without one, your efforts to attract customers are likely to be haphazard and inefficient.
The focus of your strategy should be making sure that your products and services meet customer needs and developing long-term and profitable relationships with those customers.
To achieve this, you will need to create a flexible strategy that can respond to changes in customer perceptions and demand. It may also help you identify whole new markets that you can successfully target.
The purpose of your marketing strategy should be to identify and then communicate the benefits of your business offering to your target market.
Set your companies vision
- What are your companies aspirations?
- Have you set your goals and objectives?
- What are your predicted sales revenues short, mid and long-term?
- Have you a clear strategic plan?
- Do you want your existing customers to spend more?
- Do you want to acquire more customers?
- Are you looking to expand with new locations or new products?
- Have you segmented your customers by size, location, industry and buying behaviour?
- Do you have a customer database?
- Do you have a marketing plan?