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Marketing Strategy Plan

Although the exact ingredients of a marketing strategy plan would vary from one business to the next, many of the principles of a good marketing strategy apply to almost all businesses.

What are marketing strategies?

Marketing strategies can and should consist of a variety of different ways to communicate the advantages of your product or service to your target audience. The only effective way to reach your audience is by knowing who they are (demographics) and understanding which mediums they gravitate to for information, entertainment, and social engagement.

Formulating a Marketing Strategy Plan

A good starting point for developing a focused marketing strategy or an entire marketing strategy plan is to make note of what your competition is doing. A little competitive research can help give you a good idea of what's working and not working for businesses that are similar to yours.

One of the most powerful forms of marketing that can help you build your customer or client base is word of mouth advertising. When the level of your service, pricing, or product quality is considered to be noticeably superior to what people are accustomed to, then they're going talk about it, favorably, and help you spread the word.

A thorough marketing strategy plan should include a marketing budget and any of the following marketing techniques and opportunities that would be appropriate and cost-effective for your specific kind of business:
  • Website marketing: content development, search engine optimization, link building
  • Social media marketing: Facebook, Twitter, Linkedin, etc.
  • Public relations/media relations: Distributing press releases whenever you have anything newsworthy to announce
  • Direct mail marketing: Sales letters, relationship building letters, postcards, coupons, print newsletters
  • Email marketing: newsletters, announcements, invitations, coupons, and surveys to customers or prospective customers that have given you permission to email them information and offers
  • Traditional and online advertising: Encompasses everything from newspaper advertising, yellow pages, and broadcast advertising (radio and TV) to advertising on targeted websites, Internet directories, and doing Pay Per Click campaigns through Google (aka AdWords).
  • Networking and/or Exhibiting at trade shows, conventions, and seminars

For more marketing strategies visit Marketing Survival Kit's home page