Designing a marketing strategy takes a lot of work developing your brand and figuring out your message. As you break down the process into individual steps, don’t be afraid to try new things as you go. Each product and each company is different and will require a slightly different approach to arrive at the best marketing strategy.
Determining Your Target Market
One of the most important places to start with your marketing strategy is with defining your target market. It’s essential that you ask yourself hard questions about who you’re marketing your products to.
Don’t just guess blindly at who would be the most receptive to your products. Do the research. Interview a variety of individuals from different demographics to get data about potential receptibility. As you get this information, tailor your target market down.
Choosing a Medium
After you’ve determined your target market, think about the best mediums to use to connect with that group of individuals. As you think about the different mediums out there, be open to a variety of options. You might be surprised by which forms of medium tend to have the highest response rates.
For example, direct mail has a 9 percent response rate compared to 1 percent for email. With nine times the response rate, it might be worth it to invest in mailed ads with various discount codes for the recipient. This approach is especially effective for older demographics as they tend to be more established with more permanent addresses while younger people move around frequently.
Utilize Social Media the Right Way
As you figure out which target market to focus on and which mediums to work in, it’s important to specifically tailor your social media marketing approach to your audience. Social media is one of the best and easiest ways to market because of its low cost and high potential to connect you with potential customers. But make sure you’re planning your social media marketing strategy the right way—utilize all the tools the specific platform gives you to boost your page in their algorithm.
As you work to form your marketing strategy, be sure to keep the big picture in mind at all times. Ultimately, you want to ensure that you are telling a story that your audience can relate to and get behind. If your marketing feels like it is completely connected to this bigger message, you’ll be in a much better position.
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