Marketing Strategy and Your Bottom Line
If you’re considering what you can do to grow your business and take your company to the next level, chances are marketing is already part of your business plan. As you think about the best approach and your next steps, remember that increased efforts and investment in your company’s marketing strategy can directly affect your company’s bottom line. Along with helping to increase the sales of your products and services, an improved marketing strategy can highlight specific ways to identify and communicate with clients and prospects and improve the customer experience. By using marketing to have the right conversations with the right people at the right time, you really can take your business to the next level. Our 5 tips on marketing strategy can help you get started.
1. Create a Targeted Marketing Strategy
A business today benefits from taking a closer look at what makes that company unique. A little analysis and some dedicated resources can go a long way toward creating a targeted marketing strategy. Think of your strategy as the first step on the path to achieving your marketing plan, driven by your overall business goals. If your goals include becoming the product or service of choice for a certain market, then your marketing strategy should reflect this. As you consider how your goals can drive your strategy, you’ll find that this becomes the foundation for everything that follows. You could begin by examining your existing marketing strategy if you have one. Describe your audience and then target your approach to drive increased awareness, leads, and ultimately sales to that same audience. If you don’t yet have a marketing strategy, start with your goals and what actions would be needed to get you there.
2. Pump Up Your Brand
You have probably heard it said that your brand is everything, and in a way it’s true. Your brand represents you even when you’re not there to explain your company. A good brand will deliver a commitment to something like quality, leadership, speed, or even something emotional like kindness or strength. To help your prospects and customers find and experience the best of what your company has to offer, take time to consider what your brand represents. Consider these questions:
- If you have a logo, what does it look like? Does it accurately represent your company and/or tell the story of your company?
- Are there words in your logo, or a tagline that claims a position?
- Does the look and feel of your brand help you tell your story and explain how your company is different from your competitors?
If you’re coming up short, or if you’re unsure whether your brand elements present a consistent message in support of your marketing strategy, then it’s time for a refresh to pump up your brand.
3. Empower Your Sales Team
Providing the proper messages and tools helps your sales team sell your products or services. It’s in everyone’s best interest to present your company’s information in the best light. Clients have the information they need to make an informed decision, and Sales can close new and continuing business more efficiently. Your sales team members want to be successful. It may take training or new tools, but your business is worth it! Get thinking now about the marketing strategy needed to help your sales team generate new leads and increase revenue.
4. Make Sure Digital Is Part of Your Marketing Strategy
Today’s businesses and consumers quite simply live online. To meet your customers and prospects where they live, you’ll need to consider how, when, and what to share via digital channels like email, social media, and paid advertising. Consider what your brand means and who could benefit from seeing your message. Are you a business selling to other companies? Building a strong LinkedIn company page may be a go-to resource in your marketing strategy. Do most of your sales come from individual consumers? Add a Facebook page and work to share news, offers, and images with your buyers. Ask questions, respond to complaints, and let clients and prospects know that you’re there for them. If you’re a non-profit organization, you may need a mix of social channels to optimize your campaigns in order to gain volunteers and donations.
5. Build Out Your Marketing Strategy with Events and PR
How do you get the news out to your buyers and prospects about new people, products, and other offerings from your company? It may be possible to extend your reach and share your company’s offerings via in-person and virtual events. You may even decide to share your news with the world via public relations. Consider what message you want to share and when you could share it for the most impact. Then, add the plan to your marketing strategy, putting together a plan that applies the budget toward your events and public relations. Budget for in-person and virtual events, like webinars, that will engage and educate your audience and keep you in front of potential buyers. Think that there is no news to share? Start with a news section on your website and add highlights until you find that the news is too big to keep to yourself.
Help When You Need It
If this feels like too much to do on your own, you’re not alone. We are here to help. Stratos Marketing Group is an experienced, full-service, or bolt-on marketing firm specializing in marketing strategy and development, branding, digital marketing, event planning, public relations, web development, analytics, and more. We listen to our clients, create a strategy, and execute plans to achieve their goals. Based in the Denver, Colorado metro area and serving clients across the US, Stratos works with companies in healthcare (including veterinary medicine), biotech, financial services, technology, and many other industries.