8 PROVEN BOOK

8 PROVEN ELEMENTS IN MARKETING STRATEGY 1

?What do you think is the most important part or aspect of any business? Is it product or service development/production, delivery, passion from the business owner, the budget/capital or the marketing strategy? I believe, every aspect of a business is important, but I would like to put more weight on the utmost importance of a concrete, well- planned, study-based and step-by-step Marketing Strategy for the success of any business. 2 8 PROVEN ELEMENTS IN MARKETING STRATEGY

> > > >> >MARKETING STRATEGY is the plan of action or Step-by-Step Process that outlines how you will promote and sell a product or service. According to a survey, 24% of businesses reported that they do not have a formal strategy in place. If one these companies would be your competitor, you can easily get ahead of the game once you employ a well- designed strategy. If you are planning to go to business without a concrete plan, well you have to think again because people are being bombarded by 4.6 Billion pieces of content published online every day. This does not even include daily life distractions like family matters, work, phone calls, emails, ads, blogs, videos, pictures, social media, TV, radio, etc. the list goes on and on. So, taking marketing strategy not so seriously, will not get you anywhere. 8 PROVEN ELEMENTS IN MARKETING STRATEGY 3

ELEMENTS OF A MARKETING STRATEGY Now, let’s take a look at what should be included in a comprehensive marketing strategy. The following are the elements of a Marketing Strategy: GO 4 8 PROVEN ELEMENTS IN MARKETING STRATEGY

1 MARKET RESEARCH The start of any marketing strategy is market research. This is required to so that you will be able to determine the buying habits of your target audience in your specific industry, the market size, potential growth, as well as current trends within your industry that you can take advantage of. 8 PROVEN ELEMENTS IN MARKETING STRATEGY 5

2 TARGET MARKET IDENTIFICATION It is important to identify who your most likely buyers are. The most common mistake of businesses is to market to everyone. That’s understandable because you would want everyone to buy your product but that is really counter- productive. It has been proven time and again that when you are marketing to everyone, you are marketing to no one. 6 8 PROVEN ELEMENTS IN MARKETING STRATEGY

3 POSITIONING/ BRANDING This refers to your target buyer’s perception of your brand. Your branding needs to be positioned in such a way that your product has a high perceived value in the eyes of your target audience, and this must be clearly communicated in the messaging of your marketing campaigns. 8 PROVEN ELEMENTS IN MARKETING STRATEGY 7

4 COMPETITIVE ANALYSIS The best way to get ahead in the marketplace is to know your competitors. You may want to have a look at their marketing efforts through competitive analysis. You need to identify them in order to discover your unique selling proposition and then use that new marketing strategy to set yourself apart from them. 8 8 PROVEN ELEMENTS IN MARKETING STRATEGY

5 MARKET STRATEGY The most exciting of all is determining your market strategy. This will outline how exactly you will attract you most likely buyers. It should include the entire market place and break down your marketing tactics and techniques and most importantly the CUSTOMERS BUYING PROCESS or simply the SALES PROCESS that you are going to follow. You may also want to choose between Traditional and Digital Marketing Strategy. If you choose Digital marketing strategy, you have an option to choose between Organic and Paid marketing. Organic marketing examples are content marketing, search engine optimization, and regular social media posting etc. While paid marketing examples are Social Media Advertising, Google Ads, Pay per click and others. But if you want to have immediate and predictable results, then we recommend to use Paid Advertising. 8 PROVEN ELEMENTS IN MARKETING STRATEGY 9

6 MARKETING TOOLS It is also important to consider what marketing tools you are going to use to implement your marketing strategy. If you are using digital platforms, there are a lot of tools and software available in the internet that could make the performance of your marketing campaign more effective and efficient. Samples of these tools are the follow up system soft wares, chat bots soft wares, booking appointment soft wares, Voice over soft wares, video editing and graphics design soft wares, sales funnel creation soft wares etc. 10 8 PROVEN ELEMENTS IN MARKETING STRATEGY

7 BUDGET In order to market your product or service you will need to identify and set aside a campaign budget. Your budget should include the budget for your advertising cost, procurement of programs and soft wares that might help you in your business. With all the distractions that your prospective buyers have in their lives along with your competitors in your specific market, you cannot just expect massive results from free sources of traffic. The bottom line is that you need to allocate budget for your marketing. 8 PROVEN ELEMENTS IN MARKETING STRATEGY 11

8 SUCCESS MEASUREMENT Finally, you need to measure the entire process. In order to gauge your marketing success, you need to establish goals and metrics to monitor your campaign’s performance and adjust parameters as needed. Digital Marketing makes this a whole lot easier since you can determine metrics such as Cost Per Click, Cost Per Lead and Cost Per Acquisition. This is the biggest advantage of digital marketing in comparison to traditional marketing. 12 8 PROVEN ELEMENTS IN MARKETING STRATEGY

If you want to explore deeper the potential and the possibilities on how Digital Marketing can grow your business… Dolphin Digital Solutions is ready to help you. Claim your FREE 45 MINUTES, NO OBLIGATION, STRATEGY SESSION NOW! BOOK NOW > 8 PROVEN ELEMENTS IN MARKETING STRATEGY 13