Do You Have a Defined Marketing Strategy?
There are dozens of definitions of marketing strategies. I prefer to use the term “What does my brand stand for?”
At ExSeed Marketing, we focus on one statement, “Helping Others Succeed.” Every decision is based on the question, Will this help us get to our statement of fact? By knowing what we stand for, it makes the decision-making process much easier, and we all know what the goal is.
If you’re a window covering retailer, your Statement of Fact could be as complex as “saving the world from unnecessary discomfort” or as simple as, “35% Less Than Costco, 22% Less Than Home Depot.” It’s a deeply-held belief you have, not what the world say’s you need to have.
Once you have your “Statement of Fact,” it’s time to implement.
Step 1: Describe your company’s “Unique Selling Proposition” (USP).
Step 2: Define your target market.
Step 3: Write down the benefits of your products or services.
Step 4: Describe how you will position your products or services.
Step 5: Define your marketing methods. Will you advertise, use Internet marketing, direct marketing or something else?
- Your Unique Selling Proposition sets you apart from the rest; don’t try to develop a marketing plan without one.
- It’s important that you have a budget developed for your marketing plan. Marketing is an investment, not an expense. Know Your Numbers!
- Revisit your marketing plan at least four times a year. Are you on target? Do you need to revise it?
It’s OK to make adjustments, as long as you have the data to back up your switch.