Before you commit your budgets, clearly document your business’ strengths, weaknesses, key audiences, and ideal marketing tactics.
You already know where you want to be. Now let’s figure out how to get there.
Broadly defined, “strategy” refers to the organized deployment of resources, under conditions of uncertainty, in order to achieve a desired outcome. The purpose of a marketing strategy, then, is to understand the current state of your marketing efforts, the desired future state of those efforts, and to chart the path by which this future state will be realized.
How does Kairos help?
Understand the benefits of marketing strategy services for your organization.
Understand your weaknesses; play to your strengths
Good strategy and self-flattery don’t mix. In order to develop a successful marketing strategy, marketers need to be capable of critically examining their organization’s assets, as well as areas in which their organization struggles. This examination typically involves both a thorough study of internal practices and resources, as well as an investigation of similar, competing businesses in the marketplace.
Get to know your ideal customers
Your marketing strategy isn’t just about you; it’s about your clientele. While your clients might all share similar needs, they can vary widely in their knowledge levels, behaviours, and viewpoints (just to name a few).
In order to speak to these diverse audiences, marketers often craft their strategies around “buyer personas”; an idealized representation of your preferred customer, informed by first-party customer data as well as market research.
Chart a course through every stage of the customer journey
In a perfect world, every person who lands on your website would fill out your lead forms, make a couple of purchases, and leave glowing customer reviews. The world we live in is not a perfect place.
An effective marketing strategy should address prospective customers as they advance along the “path-to-purchase”, as well as maximizing the lifetime value of current and former customers.
Avoid impulse decisions and other common pitfalls
In the absence of a comprehensive strategy, it can be tempting to make dramatic changes to your marketing based on limited information. Say that your search ads have a good month, so you double their budget; the next month, those leads have dried up, and your ad spend has been wasted.
A sound marketing strategy helps to avoid these risks by outlining clear expectations, the frequency of analysis, and thresholds for significant results.