Marketing Tips From Interim Executives
A good marketing strategy is important to have a long-term approach to having an advantage over your competitors.
If you want to have a successful business, you need to have a good marketing strategy. Today we will go over some simple marketing tips from interim executives on how to create an effective marketing strategy for your company to follow.
Tip #1: Set Goals
Goals are important for any plan in life, likewise, it is also important for a good marketing strategy. You need to know what you are trying to achieve in how much time. Because of this, it’s important not to set vague goals such as “Increase sales,” instead you need to set SMART goals. SMART stands for specific, measurable, achievable, relevant, and time bound. An example of a SMART goal could be, “In 3 months we hope to achieve a 20% increase in leads, and a 10% conversion in conversions by improving our social media marketing.”
Tip #2: Learn About Your Target Market
If you don’t know anything about your target market, then you are doing something wrong. You need to figure out what your customers needs and wants are in your market. You need to do this because you always have to stay one step ahead of your competitors. The best way to do this is to look at social media and customer reviews of both your own company and your competitors. Read the comments of various posts and see what people are talking about. With reviews, you mainly want to focus on the 3 star reviews because generally, the customer likes the product, but finds it lacking in some areas. Once you figure out the needs, you can then successfully address them.
Tip #3: How Will You Market Your Product
You need to decide on the most effective way to market yourself and your product. This step goes hand in hand with the second step. Hopefully while you learn about your target market, you will also figure out where your target market gets its information from. If your customers are mainly older people, then they mainly get their information from TV ads or newspapers. Likewise, if your customers are young, then they will get their information from social media or influencers. Deciding on the right marketing channel is extremely important because you don’t want to be wasting your time and money on a channel in which your main target market does not use.
Tip #4: How Will You Sell Your Product
The last step of a good marketing strategy is figuring out how you will bring in the cash. Again this is highly dependent on your target market. You may want to focus selling your product in retail stores or outlets if your consumers are older folks, while if your consumers are younger, you will focus your attention on e-commerce sites. No matter which medium you choose to sell your product, it is also important to inform your customer base where your products are being sold. When your product is launched, send a post on social media saying something like, “we just launched our new product ABC, and it is currently available for purchase at these locations.”
The key takeaway from these 4 steps is to know your customers. By knowing your customers, you will be able to figure how you are going intrigue them, how you will market to them, and how you will sell to them. These 3 “how’s” are extremely important to answer if you want to have a great marketing strategy. By following these marketing tips, you should be able to create a great marketing strategy.