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How to create a successful Marketing Strategy for your business

May 15, 2017

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How to create a successful Marketing Strategy for your business

May 15, 2017

The most common feedback I get when speaking to business owners about their marketing is that they either don't know where to start, or more commonly, they feel they are just wasting money.

 

If you feel the same way, the solution is simple: you need a marketing strategy.

 

VLK Consultancy are of course here to help with that, but if you’d prefer to have a go yourself, here’s a simple, step-by-step guide to carving out a successful marketing strategy for your business:

 

Step 1. Set yourself a marketing budget for the year and stick to it. Rather than reacting to opportunities as they present themselves, take a longer term view on your business and your marketing.

 

Step 2. Work out what it is you want to achieve for your business and set yourself an achievable goal, such as:

 

  • Increase new customers by 10%

  • Increase average spend by 10%

  • Increase repeat business

  • Expand my business 

  • Generate increased brand awareness

 

Step 3. Carefully plan out campaigns, both strategic and tactical, specifically targeted at achieving your goals. Evaluate every marketing opportunity and campaign with the question in mind “Will this help my achieve my goal?”

 

Step 4. Allocate a portion of your budget to these campaigns and opportunities, being careful to choose the ones that will give you the greatest impact towards achieving your goals. Keep a small portion of your budget to one side for adhoc opportunities that may present themselves throughout the year, such as local promotions. 

 

Step 5. Measure and analyse your progress regularly by setting up KPIs (Key Performance Indicators) to track your progress - for example, the average spend per customer, total number of customers on your database etc. This will also help you track which of your marketing efforts are the most effective and where would be best to re-invest in.

 

If you need help developing a marketing strategy and campaigns for your business, we’d love to help. Please get in touch

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