Producing a marketing strategy can at first seem daunting; however it needn't be.  A decent marketing strategy doesn't have to be a War and Peace type of effort. Here are some of the most important considerations to get you started and apply a simple framework:

 

 

1. Know your market

 

When beginning the process of identifying your target market it is important not to focus on too large a market segment which may prove too challenging to reach all the people within it. Conversely too narrow a focus will make it difficult to generate enough business for you as a small business to survive. 

 Here are some key considerations when analyzing your target market. Think about who your prospective customers for your products or services are. Consider factors such as:

 

  •  Demographics including race/ ethnicity, age and sex. Also important to consider are education and  earnings/income
  • Geographical information
  • Attitudes, needs, wants
  • Buyer behaviour such as frequency of purchase, and repeat purchase behaviour, loyalty

 

2. Align with your business strategy

 

 it is critical that your marketing strategy naturally flows from your business strategy. For example if your strategy is to  grow your business by adding  new services  to your  portfolio then  this will need to be within your  overall strategy 

 

3. Budget.

 

 Do you have enough budget to execute your strategy, both now and moving forwards?  How will you monitor this? Where will the money come from?

 

 

4 .  Completeness

 

  Does your marketing strategy reveal the marketing goals you have and the tactics to achieve these goals?  Does it detail the various activities to drive these goals- from traditional activities to mobile marketing? Does it consider the various channels needed to speak to the different segments of your audience?  Is your strategy flexible enough to accommodate a change in direction; with contingencies for different scenarios? 

 

5.  Relevant.

 

Does your strategy reflect an understanding of the needs, preferences and characteristics of your market/s? Does it reflect a thorough appreciation of your competition, their ability to give the market what it wants or needs? Your strengths  and ability to give the market what it wants and needs?

 

There is of course much more flesh to put on these bones- but this is a good starting point. Good luck! 

Become an ihubbusiness subscriber!

Member benefits include: It's free! Automatic entry into our Business Directory to legitimate subscribers, our "Getting Started With Internet Marketing" e-book pack delivered to you by email

PLUS An email a day for seven days with tips to help you : Increase traffic to your site, Increase subscribers and raise the profile of your business: Get the results you deserve now!

Email Marketing by iContact
pixel 5 considerations for your small business marketing strategy
 

Comments are closed.



ABOUT

Ihubbusiness is an information hub for small businesses who wish to learn about internet marketing. The site was founded by Lola Bailey in 2010. Lola is a member of the Institute of Digital Marketing and has over 20 years sales and marketing experience. She is also a full-time copywriter at www.write-upcommunications.co.uk, a copywriter consultancy which she founded. Email: editor@ihubbusiness.co.uk

Revolver Maps – free 3D Visitor maps