How To Set Up A Winning Business Marketing Strategy

Are you thinking about setting up a new business? If so, then there are many different factors to consider. For instance, a key piece of the puzzle for any business is the marketing strategy. It’s fair to say that your business will live or die depending on whether or not you garner the right interest from your target audience. We will explore setting up a winning business marketing strategy that delivers the best results. Here are some points to consider. 

The Research Stage 

The first step before you set up a winning business marketing strategy is to make sure you are completing the right research. Ideally, you will spend approximately 3 months researching your marketing strategy and making sure all the key pieces are in place. 

Know Your Budget

One important factor to consider is your budget. Know that you can’t set up a marketing campaign for nothing. The less you spend, the more difficult you will find it to make a solid impression on the market. There are many budget considerations to take seriously. Overall, you should be spending about 20% of your total start up budget on marketing. This will give you a solid chunk of cash to put toward everything from Google Ads to the cost of haring help. 

Know Your Competitors 

Next, think about who your competitors are. Competitor research will help you understand any gaps in the market that you could fill with your services or products. It will also help you understand what is unique about your business that makes it stand out on the market. Furthermore, if you look at your competitors, you can discover what will and won’t work with regards to a marketing strategy. This is why it’s such an important piece of the puzzle. 

Know Your Target Audience 

Once you understand your competitors, you can then start to look into your target audience. Who is going to want to purchase your products and services:

• What do they like?
• What are they interested in?
• What are their pain points?
• What marketing channels will impact them?
• What content do they want to read or view?

Answer all these questions and you can set up a winning business marketing strategy. Having a compelling marketing campaign from day one gives you confidence and a plan to follow. You can also create buyer personas. These are representations of your main target audience which means that you ensure that your company has a built in customer base that you can appeal to. 

Know the Marketing Types 

During the planning stage, you need to educate yourself about marketing types that will deliver the greatest impact. For instance, you could consider planning a social media campaign. This is a smart choice because it provides a way for you to connect with your target audience on a personal level. Also think about whether you are planning a paid search campaign or an organic search campaign. Both could be effective but you just need to think about which is going to be more beneficial for your business in the long term. 

Content Creation 

Think about creating quality content for your marketing strategy. There are different types of content and strategies to choose from. For instance, you might consider using AI to create your content. This isn’t the worst idea in the world but use it sparingly and improve on the content you create as you go along. 

Pre-Marketing 

Before you set a launch date, think about your pre-marketing strategy. This is marketing that you can run before you set up your business and open the doors. It can be used to tease your target audience about what’s coming and also create a sense of FOMO around your business in the future. 

The Date Itself 

After you have created a pre-marketing campaign for your business, consider the launch date for your company. Think about a date that could create the greatest impact and also consider your target audience here as well. For instance, if you are running a business designed to appeal to families, it might be beneficial to launch your company during the holidays or during school breaks. 

The Continuation Strategy 

Finally, it’s important to understand that the launch of your marketing strategy is just the beginning. Marketing is a long term consideration. Make sure that it fits with your overall business model.

For instance, think about the cost that needs to be scalable. You might even want to consider adjusting your budget on a monthly basis. 

Also think about how you can grow your marketing plans overtime. Ultimately, your marketing needs to evolve with your business goals. If you don’t do this, it’s possible to become stagnant. At least a chunk of your budget should go toward boosting your business marketing plans. 

For instance, you might be interested in achieving a 5% growth with your business on an annual basis. If that’s the case, then it’s important to explore how much you will need to spend on marketing to achieve this target and what type of promotional strategy to use. 

We hope this helps you understand some of the key points that to consider when you are devising a winning business marketing strategy. Having a plan for your company will help it to stand out and achieve your target objectives in the future.