There are many layers to consider for your business when developing a marketing strategy. There are key relationships, influences and dynamics which are going on around you every day and are available for you to tap into.
Analyse your business to develop your marketing strategy and think impartially about what your advantages are and where you could improve.
As part of your strategy, you need to consider what resources you will need but don’t currently have, and work out how to bring them into your business at the right time.
Your brand is based on your values – core beliefs, which you won’t compromise on – and should reflect to you. You live your values.
Vision is about the strategic direction of your business and where you want it to go. Whereas, the physical expression of your brand is a fancy way of saying your logo and any colours, fonts or styles you use.
These are all areas you need to think about when developing your marketing strategy.
SWOT Analysis
Using SWOT to analyse your business is simply a snapshot of your business at this moment in time, and it may change rapidly.
Strengths are things you can build on, and weaknesses are things you can address – spend a few weeks working on and improving these once you’ve identified them.
Opportunities and threats are at the macro level, such as a new technology which can help you reach a new marketplace or a process you can use. These are things you want to use and have in one place, and it’s worth using a spreadsheet or online document to capture and track these.
Once you’ve done your research and looked at the bigger picture, you’ll have a clearer idea of where you are now.
Then you need to decide the changes you want to make.
Aims and Objectives
There are lots of ways to set aims and objectives for your business. While it’s important to have a realistic idea of what’s going on around you, you should also dream big.
Aim high, higher than you think you’re capable of, because you’re going to go further by the virtue of aiming higher.
Some people use the SMART acronym for goal-setting, and I think there is some merit in this because you can be very Specific and write down exactly what you want to do. It’s quantifiable, because you Measure what will happen and by when and it’s Realistic and Achievable, even if there’s only a small chance. Lastly, it’s time-bound, so you have a timeline (and deadline) to work towards that strategic aim within a short period.
It’s essential to quantify your goals because when you set controls later on, you’ll know what you’re measuring and where to look. We’ll look at a framework to help you do this in another article, and some ways to grow and develop your business.
Are you worried your marketing isn’t working right now?
If leads and enquiries are drying up, you’re not attracting the right customers or you’re not making enough profit – it’s time to investigate.
Don’t leave without checking to see if your marketing is roadworthy
Photo by Paul Skorupskas on Unsplash