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DJDJFJDJC

The document provides guidance on developing an effective marketing strategy, including defining an ideal target customer, establishing specific marketing goals and metrics, selecting appropriate marketing tools, and creating a dedicated marketing budget. It advises business owners to focus marketing efforts on a specific customer profile based on demographics rather than trying to appeal to everyone. Goals and tools should be tailored to increase sales and trackable using timeline markers and adjustments. Both traditional and digital tools may be used depending on whether pursuing new or existing customers.

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Jozzy Marcy
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59 views1 page

DJDJFJDJC

The document provides guidance on developing an effective marketing strategy, including defining an ideal target customer, establishing specific marketing goals and metrics, selecting appropriate marketing tools, and creating a dedicated marketing budget. It advises business owners to focus marketing efforts on a specific customer profile based on demographics rather than trying to appeal to everyone. Goals and tools should be tailored to increase sales and trackable using timeline markers and adjustments. Both traditional and digital tools may be used depending on whether pursuing new or existing customers.

Uploaded by

Jozzy Marcy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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Define the Ideal Customer

A business owner who says "everyone is my client" is relying on broad marketing


concepts that are most likely hurting sales success. Demographic studies show that
some consumers buy differently than other consumers – younger consumers respond
more to texts and digital ads, whereas older consumers have more traditional buying
habits. Take the time to define your ideal customer, based on age, gender, family
status and financial status. Once you have a description of the ideal consumer,
define how your products solve a need or a desire in that group.

Establish Marketing Goals


Marketing should lead to sales. Define how your marketing efforts improve revenues.
Goals can include increasing sales by 10 percent or having an additional 30 percent
of online customers buy a second item through shopping cart suggestions. Be very
specific with goals so you can measure your success. Set a time frame with timeline
markers. Timeline markers to track progress so you can make adjustments as you work
toward the ultimate goal. For example, if the goal to increase annual units by
1,000 over a 12-month period, then track the progress on a monthly basis.

Select Marketing Tools


Once you know your customer and what you want to do, set your marketing methods.
Select from traditional advertising and digital marketing platforms. Also establish
the frequency of advertising or "touches" to the customer. A touch is considered
any contact with a prospect. It can be a phone call, a text, sales email or postal
letter.

How you utilize tools is often different for cold versus warm leads. Social media
advertising is able to target specific demographics and adjust ad frequency. For
example, social media ads allow you to target young mothers searching for car
seats.

Budget Funds
Everything costs money, and you want to make sure you have a budget that enables
your strategy to succeed but doesn't throw good money after bad – on ineffective
strategies. Establish a budget for each strategy. Monitor the results to determine
which strategies are the most effective. Be flexible enough to adjust budgets, and
move money away from campaigns that aren't working into strategies that working.A
marketing strategy is important for all businesses because it clearly outlines how
they'll find new customers and promote their products and services to ultimately
achieve more sales. You can use the marketing strategy as a stand-alone tool, as
part of a marketing plan, or as part of a business plan, all with slightly
different [Link] Marketing Strategy Fits Into Your Business Plan
The marketing strategy section of your business plan builds upon the market
analysis section. The marketing strategy outlines where your business fits into the
market and how you'll price, promote, and sell your product or service. It can also
act as a source of important information for potential investors who are analyzing
your [Link] 4 Ps: Product, Promotion, Price, and Place
You can break down the key information in the marketing strategy section using the
4 Ps of marketing concept: product, promotion, price, and place.1

Product
Product can refer to either a physical product or a service that you plan on
offering. Some of the product areas that fall into this section include:

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