How do you develop a marketing strategy?

Developing a marketing strategy may seem daunting or overwhelming at first, but it creates the overall direction and goals for your business’s marketing – which could make all the difference in your business’s success. Keep in mind that because of this, it is different from a marketing plan, which outlines the specific actions you will take to implement your marketing strategy. 

Here are several components to consider when developing a marketing strategy: 

  • increasing awareness of your products and services
  • selling more products from a certain supplier
  • reaching a new customer segment
     

Thorough research is an essential part of developing a marketing strategy. Use your market research to develop a profile of the customers you are targeting and identify their needs. Understanding this is critical to determining your next steps. The profile should reveal your customers’ buying patterns, including how they buy, where they buy, and what they buy. Similarly, as part of your marketing strategy, you should develop a profile of your competitors by identifying their products, supply chains, pricing, and marketing tactics. Knowing what your competitors are doing and how they are doing it should be insightful for your team.

Your time is precious, especially when it comes to your marketing strategies. Based on the goals and objectives you have set for your business, create a timeline that will determine what will be completed and when. Depending on the nature of your industry, some of this may be determined by seasons or holidays. 

Establishing a marketing strategy keeps your business goals organized and focused, saving valuable time and money. If your business’s marketing strategy includes incorporating promotional products into campaigns to reach new audiences, increasing brand awareness and improving customer service with employee uniforms, lead generation campaigns, or other go-to marketing solutions, contact your local Fully Promoted team to discuss what we can do to help you surpass expectations.

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