Creating a winning marketing strategy

A strong marketing strategy is the heart of achieving business success.

Before getting into developing a marketing strategy, let us explore what is a marketing strategy. Even though it may sound complicated, marketing strategy is what you are going to do to achieve your objectives.

Developing an effective marketing strategy is not always simple, as it requires thought, analysis and focus to ensure that the right mix is identified to create your competitive advantage.

Here are seven things to consider when developing your marketing strategy:

Be clear on what is to be achieved

Use your business objectives to identify your marketing objectives and be clear on what you want to be achieved. Break your marketing objectives into goals so it will be easier for you to determine what is required to meet them. Be very specific about your key performance indicaters (KPIs) and the metrics that will be used to determine the effectiveness of your strategy.

Research your market and define your ideal customer

Use research and data to understand your market. There are several ways to gather information in an age where technological improvements and proliferation of the Internet allows for greater access to people and data, from traditional market research methods such as surveys or focus groups to online platforms that provide information on the demographics of consumer segments and behavioural patterns of customers.

Aim to solve a problem

Having defined your target market, aim to solve a problem for the customer. Customers have plenty of problems that they are looking to solve and so, if you work in a particular industry and have a variety of clients, use your client knowledge to find a problem you can address. Research a product idea. Many businesses develop great products that relate to other successful products they sell. Think about why customers use your existing products and you may be able to solve another problem that is slightly different.

Develop marketing strategies to help you achieve your objectives

Once you have identified your ideal customer and solved his problem with your product, you can think about the components of your marketing strategy. Think broadly about what you need to do to achieve the objectives that were developed.

Create your marketing plan and budget

It is critical that you document your marketing plan as this will be your road map to achieving your objectives. The marketing plan covers exactly what you will need to do to reach your goals.

Implement your plan

Effective execution of your plan is key. Take your time to plan your initiatives so they will be effective. Roll out your programmes and continuously evaluate if they are working and adjust as you go along. Test and learn – it will not work exactly as you have planned it. However, be agile in your approach so you can get better outcomes.

Monitor and evaluate your programme

Marketing strategies cannot be developed and stored in a safe place, as the process does not end with the completion of the plan. Rather, this continuous process requires ongoing assessment of the marketing programme to see what is working and make changes quickly where necessary. Constant evaluation and adjustment are required for it to be successful as changes in the environment, whether internal or external, can affect your strategy and shifts will be required to ensure that the initiatives that are brought to market are relevant and will be effective in driving the desired outcomes.

The KPIs and metrics determined when you were developing your strategy will be important in determining the success of your execution. Document and report on the outcomes, so you will be able to use these insights for future strategy planning.

There are no shortcuts to achieving the ultimate goals of your business through a proper marketing strategy. You should be ready to invest a lot of time, effort, patience, and finances in this goal. When you pay attention to the key elements of a good marketing strategy, it will be easier for you to develop a logical, effective plan that will lead your business to success.

Nichole Brackett Walters is a certified professional marketer (PCM®) with over 20 years’ experience in strategic marketing development and application. Brackett Walters is a member of the American Marketing Association (AMA). Follow her blog at marketingmoves.net or on LinkedIn .