Perfecting your business and marketing strategy is more important than ever, some say they are two separate identities but we say they are combined. As your business strategy lays the foundations and your marketing strategy compliments to elevate and promote your business and brand. 

As, an effective business strategy will ensure that you execute your marketing strategy to maximum effect. In this article we will look through the 3 key steps into building a successful approach. 

  • Point One: Pinpoint your target audience 

The first step in building your business and marketing strategy is to decide which demographics you will target in regards to industry, groups, location or age group. 

Perhaps though, it would be easier to rule out the groups that you don’t desire to pursue. For instance if you are targeting a service or product that is heavily based around the internet and social media, it wouldn’t make sense to target audiences that more generally might struggle with the technology. 

Also from a purely financial perspective, try to think of the sections of society that will be able to afford your services. If you are marketing something that is on the higher end of the price bracket it would be wise to consider if the economic situation of the area you are targeting is suitable too. 

  • Point Two: Appeal to your target audience by positioning yourself apart 

Implement an approach that aims to highlight your brand amongst a sea of competitors; showcasing how your prices, offers or services differ from companies in the same industry. Doing this not only helps customers perceive your company’s benefits but also it subtly highlights weaknesses in the competition. 

Of course though, it is not necessary to pick a fight as this can lead to negative publicity. The power of positioning lies in consistently communicating the unique features of your business rather than openly disparaging your competitors. Try to make messages that are:

Clear– Will they understand it?

Unique– Does it stick out from the crowd? 

Authentic– Is it genuine? 

Relevant– Do the targeted audience care? 

  • Point Three: Set some targets for the year ahead

You need to have set out some business and marketing objectives to guide your efforts and provide benchmarks. For instance, a company may seek to increase their social media engagement or their customer base in numerical terms such as in January stating ‘by the end of this year we desire to increase our customer base from 20,000 to 35,000’.

A good reference guide here would be to use the popular SMART criteria: 

  • Specific — stating the desirable outcome, answers “who, what, when, how much, …”
  • Measurable — study progress with Key Performance Indicators 
  • Achievable — be ambitious but also keep with realism
  • Relevant – does the objective align with your overall marketing and business strategy?
  • Timely — set up a time frame for achieving the goal.

A further top tip for this is to also set them with a review period of 90 days and break this down into measurable 90 day targets to ensure by the end of the year, you reach them goals.

To discuss more on your marketing strategy, book a free call using the button on the top right! Alternatively you can download our free download here on how adapting a new strategy in business can help: