What is a marketing strategy? Marketing is the process by which products and services are developing to meet the needs and interests of customers. Marketing strategies can be as subtle as a television commercial or as direct as a television advertisement. A good marketing strategy can be a vital part of any overall business strategy.
Without a sound strategic framework, a solid marketing plan is of little use to an organization. For example, if a business plans to expand its product line by adding a new department, it must clearly define its short and long term goals. Without having a complete business plan, the expansion plan will fail due to lack of clarity. When developing a marketing strategy, a plan must include short-term goals such as increasing sales and maximizing profits, and long term goals such as building brand awareness and increasing the company’s market share. While it may seem like a daunting task, it is relatively easy to develop a plan when the basics are laid out.
A marketing plan template is an effective way to lay out the plan in simple terms. A common mistake is to use an overly complicated template that provides little structure. A well-designed template provides a clear sense of direction and allows for the easy integration of organizational components such as departments and executives. A template can also provide a template for testing purposes. It is best to use a template that has been thoroughly tested and proven to work.
An effective template also provides a wealth of color schemes and graphics to help make the plan more appealing and user-friendly. A swot analysis is a vital step in developing a marketing strategy that is successful. The swot analysis states what the purpose of each department in the plan is and whether any departments need to be eliminated or added. Once departments are identified, colors and fonts are added, spaces are organized and graphics are placed around the plan to allow for easy viewing. This allows the team to focus on each department at hand and clearly see the strategic goals for the day.
The next step in the development of a marketing strategy is to identify which goals should be the focus of the day. It is important to create short-term and long-term goals in addition to the strategic ones in the strategy. Once these goals have been defined, the team can begin to map out the course of action for each goal, which may include research and development, advertising, direct mail, website development or any other method used to increase traffic and build a strong customer base.
Successful marketing plans often incorporate contingency plans. This allows for emergency or unforeseen events that may disrupt the order of events. For example, if ecommerce businesses encounter financial problems, it may be necessary to divert traffic and focus on other things during the day. A financial disaster can shut down many ecommerce businesses and can lead to the failure of a marketing strategy. It is important, therefore, to consider contingency options and adjust the plan accordingly.