By: Tanna Soukup, Founder of Strategie
Crafting a well-thought-out marketing strategy isn't just a good idea; it's the key to establishing lasting connections with your customers, elevating your business's financial success, and maximizing the return on your marketing efforts and marketing budget. If you haven’t started on or considered your 2024 marketing strategy, this blog post is for you!
A marketing strategy involves research, including customer behavior and competitive research, setting clear goals, and strategically positioning your business in the minds of your customers.
A marketing strategy will benefit your business in a number of ways. First, it will help align your team and staff members. This is especially important when you need your marketing and operations teams to work together throughout the year to execute your marketing plan while staying aligned with your strategy. Your marketing strategy will also help you to make decisions and adapt when trends come up throughout the year.
"I have personally worked with Strategie for my own social media marketing and have referred her to my clients for their marketing needs. She is very knowledgable, easy to work with, and will create a custom marketing strategy that is specific to your business and your audience. She is the best of the best!" - Melissa Heckel, Branch Creative Co.
Start by considering segmentation, targeting, and positioning. Segment your audiences into specific persona types so you can target them with specific ads and position your messaging and products in a way that resonates with your audience. What makes you different than your competitors? It’s beneficial to do a competitive analysis to see what your competitors are doing that is working and what isn’t working. This step is important because it helps you stray away from generic posts and ads and toward specific and smart marketing.
Some steps to consider:
Identify your customer types and aim for a deep understanding of who your audience truly is.
Target with Precision: Speaking to a niche group of highly qualified buyers trumps casting a wide net. It's about precision, not just numbers. What channels and platforms will help you target your audiences?
Position Yourself with Purpose: What sets you apart from the competition? This isn't just a question; it's what will guide your brand positioning. Understanding and showcasing your unique strengths is pivotal in shaping your marketing strategy.
Key Performance Indicators
Next, you’ll want to think about metrics and key performance indicators (KPIs). These are the numbers that will measure the success of your marketing efforts. The KPIs aren't one-size-fits-all; they're tailored to your business type and the channels you prefer for customer acquisition.
Examples of KPIs could include:
Customer Acquisition Cost (CAC): How much it costs you to get a sale.
Organic Traffic: How many potential customers you are attracting to your website and social channels.
Conversion Rate: Indicates whether your audiences are taking the actions you want them to.
Marketing Qualified Leads (MQLs): Potential customers who are interested in what you have to offer.
Each of these numbers can help you determine the success of your marketing strategy; they’re your guide, showing you what is working and what needs to be changed.
Once you’ve finalized your marketing strategy and communicated it with your team, you’ve given them the tools to dive in deeper, creating a marketing plan that will help you hit and exceed your KPIs in 2024.
Creating a marketing strategy may sound complicated and it requires some time and effort, but it’s worth it. Investing the time now will help guide your team throughout the rest of the year. It’s Important to remember that marketing is not just about creating content. It's about creating content that captivates, resonates, and propels your brand forward.
If you are interested in getting help with your 2024 marketing strategy, contact Tanna at Strategie to start a conversation about your business and marketing needs.