6 Reasons Why You Need a Marketing Strategy
Written by Marianna Martirosyan
05 January 2018
Every person has a fixed daily routine that he knows how to organize in his head. First you wake up, then you brush your teeth, you dress up, so on and so forth. As long as you have a draft plan of the day, you feel more organized and efficient. Businesses need a plan, just like ordinary people do. In a long run that plan is called a strategy.
Marketing Strategy is vital for any business or company that sells products and services.
So what is a marketing strategy?
According to its definition, marketing strategy is a long-term, forward-looking approach to planning with the fundamental goal of achieving a sustainable competitive advantage. And why do we need a marketing strategy and what benefits you can get from creating an efficient one?
1. Clear guidelines
First and the most important role of a sustainable marketing strategy is that it sets clear tasks and objectives. It coordinates employees towards a goal that a business aims to achieve at that particular time.
How to boost the traffic to your website? How to sell this or that product? What methods and tasks to include in your workflow to achieve the desirable result? To answer all these questions you need a focused approach regarding your goal. You need step by step instructions on what to do. Here, your marketing strategy is the immediate tool to answer these questions. It will draw you the guidelines of actions needed to undertake to successfully accomplish those tasks.
2. Division of roles
There is a huge amount of work done, but yet, no progress? You feel like you are barking up the wrong tree?
Fine, here again,you need a marketing strategy!
With a good marketing strategy you will be able to divide the whole work into small manageable tasks, and what is more important, you will have certain duties attached to each employee. This way every employee will have a unique role in the accomplishment of the task. Such a strategy will double the effect of the output, as employees will have an enhanced sense of responsibility and will be more willing to perform at their best.
3. Weapon against competitors
Your company doesn't have a marketing strategy? Then your competitors are ready to crush you at a drop of a hat! Despite the rapid technological growth and development, this century also led to a crisis of ideas and innovations. It’s really hard to make up something new, because it seems that every interesting idea and beginning has already been realized. Thus, If you introduce something new or unique, you have to fight for your so called “author’s right” no matter it’s a piece of clothing, a brand new website building site or a service.
“Drastic times call for drastic measures”, they say. Indeed, competitors will do anything to sneak and pick the best ideas and services you are about to launch. What do you need? You need a bold strategy against competitors! A clear road map of what to do and how to secure your company from becoming a dead ringer!
4. Better understand your customer
Marketing strategy also helps you determine your target market. Market segmentation is crucial in order to precisely establish a relevant audience for your business. After all, to satisfy the needs of your customer you need to understand what they,really need. Analytical tools depict only the technical part of the issue, and not the emotional one. For example, Google analytics or any other similar tools give you strict and straightforward information about your traffic. But they do not convey the emotions and the attitude of the customer.
In order not to go down like a lead balloon in the eyes of your customers, you need to dive deeper. You need to frame a special scheme of customer relationship, to get insight on their attitude, mood and behavior towards your company and business. Here all the ways lead not to Rome, but to a professional marketing strategy!
5. Allocate sufficient resources
Marketing strategy is a scheme. It’s a step by step plan regarding your budgets, human resources, available equipment and actions necessary to implement to meet with your budget requirements budget. Without a clear plan, you will not be able to use your resources efficiently. Hence, a marketing strategy is also a tool of sufficient allocation of resources.
When considering a long — term strategic plan you will be able to determine how much resources you will need to allocate to your business. This will give you clues to more subtle questions like whether you will need to hire more staff or not. Of course, you should consider implementing cost-effective marketing methods, which will reduce your expenditures and yield higher profit.
6. More professional business
The ability to letting your customers find your products and services is very important, because it conveys a clear message to your customers: you are there to satisfy their needs. In order for your customers to always stay up to your news, you need to have a good marketing channel. This is a whole chain of actions needed to complete to successfully deliver your product to the customer. Marketing strategy directly involves this task.
Having a strong promotional strategy that constantly reminds your customers about you being there is crucial. Personalized approach towards every single customer will build a strong loyalty towards your company, thus making your customers become brand evangelists, promoting you to others.
To make the long story short, in order to have a fine-tooled business with renowned brand identity and recognition you must a have a clear road map on how to organize it. The organizational part is fulfilled by a strong marketing strategy that covers all the important steps towards the achievement of the main objectives of the business.
Companies and businesses need marketing strategy to be more focused and to clearly distinguish among roles and duties assigned to each employee. Don’t forget that marketing strategy is also a weapon against your competitors, as it draws guidelines on how to secure and improve your business, and finally, win the competition in level playing field.
Marketing strategy is imperative in getting to know your customers! Not only the technical part of their attitude, but also the emotional one. This ensures a tighter customer relationship. Finally, a good marketing strategy helps you better allocate your resources.
When every single action of your business is planned, you have a better understanding of where your business is and where it needs to be. Thus, it helps you be more cost-efficient and productive.
And the last but not least is the professionalism. A strategy makes your business look, and indeed be professional! Step by step, straightforward approach is always better than a messy bunch of stuff to do.
Guess you already have enough reasons to develop a good marketing strategy as a starting point! Always remember that your hard work puts you where the good luck can find you!