Why is it Important to Build a Marketing Strategy?

marketing-strategy

Why is it Important to Build a Marketing Strategy?

Build a Marketing Strategy

How to effectively promote your products and services? The answer to this question is still controversial among advertisers and marketers, primarily because market conditions are changing dynamically, which means that it is necessary to constantly look for new methods and concepts to achieve success both offline and online .

Why is it important to reach out to the client

What is promotion? Business owners understand that no matter how high-quality their product or service is, and no matter how competitive their price is, this is not enough for the modern market – it is important to find contact with your target audience. The 7P marketing mix concept , which many modern marketers use, positions the goal as achieving the strategic and tactical goals of the company by satisfying customer needs.

This can be achieved with the proper use of 7 components:

P roduct;
P lace;
P romotion;
P rice;
P eople;
P rocess;
P hysical evidence.

Using each of these tools separately can add specific advantages to the company during promotion, but only a competent combination of all 7 components allows you to achieve results in the shortest possible time with minimal use of resources. Let us dwell in more detail on Promotion – advertising and sales promotion through promotion in the business environment.

Why is it important to develop a promotion strategy

Practice shows that far from all business owners understand what promotion on the Internet is. On the Russian Internet market, promotion was most often done by “SEOs and computer engineers,” the essence of which was to increase the site’s rankings in search results. In other words, trick search engines.

They were replaced by advancement in social networks, to which they began to pay unreasonably high attention. And only a small part of the business approached this issue in a balanced manner, realizing that the advantage of Internet marketing is in building a promotion strategy and developing a set of measures that interact and are adjusted by each other.

Imbalances in Internet Marketing Strategies

Building a strategy for promoting goods and services on the Internet is impossible without the company having a business model, because the map of Internet marketing goals is built on its basis. First of all, you need to understand that the strategy must be unique – it cannot be “spied” and copied from competitors or adopted in a marketing textbook. Strategy building is based on the study of the market , product and capabilities of a competitive company.

Business model

Step-by-step instructions for building an online promotion strategy
At the preparatory stage, to build a successful strategy, marketers use three methods of collecting information:

marketing briefings;
classic marketing research;
study of the projection of the market on the Internet.

Briefings are meetings of marketers with a customer, during which the first ones find out all the information important for building a strategy: the mission and values ​​of the company, brand platform, UTP, segmentation of the target audience, customer analytics over the past 3 years, and more. It is also important to obtain marketing research results, if any.

The next step is to conduct classic marketing research. This includes customer surveys, focus group work, market research and competitors. Such studies help to understand the place of the company and the product on the market, the awareness of customers about them, correctly build the product life cycle and configure other important parameters.

The third step is market research in the context of the Internet . At this stage, the demand in search engines, social networks and thematic web resources is analyzed. Then, an analysis of customer needs, their segmentation, objections, the level of demand, competition, expectations are studied.

What is the promotion of goods and services?

Based on the data received, the marketer develops a promotion strategy that:

relies on the business model of the company ;
includes correctly set goals – and these are not always direct sales;
takes into account segmentation of the target audience;
relies on market and competitor analysis data;
determines the minimum expectations of customers;
uses targeting
correctly positions the company and its product.
The result of this approach is the development of a set of measures that allow achieving maximum promotion effectiveness due to the synergy of tools used in different planes: search and contextual advertising, promotion in social networks, on thematic forums and more, and also contributes to the competent distribution of the advertising budget.

Common Mistakes in Building a Marketing Strategy

A typical mistake of inexperienced marketers is the desire to look good in the eyes of business owners, which leads to the race for large numbers and has nothing to do with efficiency. An example is the pursuit of a large number of ad views, spamming by mailing lists, increasing traffic, increasing leads . Such an approach may give a short-term surge in sales, but in the long run will bring disappointment.

The second mistake is a bias towards psychology: a bet on creative customer acquisition, communication with the target audience, flirting with website visitors. Of course, creativity has the right to life, but it has only an indirect relation to Internet strategy.

The third mistake is the misuse of analytics. This includes too early a summary of the effectiveness of the campaign, making decisions based on incomplete information (for example, customer calls by calls are not taken into account), using only one of the analytics systems.

Conclusions

The main advantages of building a promotion strategy is an integrated approach that allows to achieve a synergistic increase in the use of all advertising tools, a competent distribution of the advertising budget, a long-term orientation towards building customer relations and high promotion efficiency.

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