The 4 key components of an Effective Marketing Strategy
Nothing works unless you work it.
Remember this the next time you decide your product is not selling, or your service is not being noticed.
There are currently 7.9 billion people in the world, I can assure you there is an audience for your market. You just have to find them!! This is why you need to develop a marketing strategy that focuses on building relationships with your target clients. A Marketing strategy is a long-term, forward-looking approach and an overall game plan of any organization or any business with the fundamental goal of achieving a sustainable competitive advantage by understanding the needs and wants of customers.
Often times ,people approach selling their business in an emotional way rather than a strategic one. I can’t say I blame them, for first time business owners starting a business is risky, scary and highly personal. When the first item sells, it is a sweet high and you savor it, but when weeks go buy and you haven’t made a sale one feels low, lost and like a failure. The business is supposed to bring you freedom, but instead you are chained to an emotional roller coaster.
It’s no wonder that the results, or lack thereof, have such an impact on the decision making.
However, it is exactly the reason that you are not seeing the results you want. By personalizing the business world you are far too critical, and emotional to see the changes that need to be made or too fearful to actually apply the knowledge gained.
Marketing your business is not magic, it is strategy.
And that strategy does not begin and end on your instagram page! Over the last two years I have watched small business crash and burn, specifically because of the lack of development in the marketing strategy- take the case study below for example:
Kate decides to sell high end T-shirts. We will assume this is one of the best t-shirts on the market. Now they need to sell it! So what do they do?
0Create a company Name
-Purchase a logo
-Make a new instagram profile
- Post a picture wearing the shirt
-Wait for the money to start rolling in
But, surprise! No money has come in, not to fret, do this again for a week.
Still no money.
Repeat the process.
This cycle continues until said buyer decides the product is trash and impossible to sale, so they abandon their efforts and move on to something else.
Kate’s strategy was destined to fail because it has no true strategy at all. When it comes to marketing, the key is to determine the process of how businesses and organizations understand their markets and their methods for influencing profitable customer action.
In other words ::
Understand who buys your products and services.
Understand how you’ll motivate them to take profitable action.
Understand your competitors who are trying to do the same thing.
Understand how you’ll measure marketing activities and refine your approach moving forward.
This, in turn, is essentially a rephrasing of the classic four P’s of marketing: Product, Price, Place, and Promotion
The development takes time, but is worth the effort and knowledge gained. Of course, you don’t have to develop and execute this all on your own. Brianca Jay, is a marketing executive who has worked with high end clients like Hyatt Regency, Four Seasons, U.S Army, Express Jeans and Coca Cola on a variety of campaigns to garner company visibility and lead conversions.
