A marketing strategy is your overall game plan to reach your marketing goals. It entails the process involved in achieving your marketing objectives, including lead generation, sales conversion, customer retention, etc.
Among other benefits, a marketing strategy guides the business’s decisions and helps them achieve their goals. Since it is essential to every business’s success, it’s best to know exactly how to create an effective plan to help you outline your business’s objectives and attain them.
Creating a successful business strategy requires following specific steps. So, if you are here and wonder how to create one, you are in the right place. This article contains a step-by-step guide that explains what you need to do to make a workable and efficient market strategy.
How to build an exceptional marketing strategy in 2023
Creating the best marketing strategy in 2023 involves following seven practical steps. Let’s examine them below.
1. Create a marketing plan
A marketing plan is a massive part of your overall business strategy. It contains critical aspects of your business strategy, including market research, target market, marketing activities, key performance indicators (KPIs), etc.
Although marketing plans are created at any stage of the marketing strategy, building them early will give you a deeper insight into what the strategy entails and what to do to reach your marketing goals.
For example, it identifies business opportunities and outlines how to achieve them. It also contains strategies to increase your market share, customer base, etc.
Although a marketing plan and strategy are similar, they perform unique functions. For example, while a marketing strategy contains what you will do to achieve a goal, a marketing plan outlines the specific regular activities you need to execute your marketing strategy.
It is a comprehensive suite for different plans that make up a successful marketing strategy, including a content marketing plan, demand generation marketing plan, SEO marketing plan, etc.
Use a template if creating a marketing plan gets overwhelming. It will streamline the process and help you document your goals, needs and essential details for your marketing strategy.
2. Conduct consumer research
A key aspect of achieving your marketing goals is understanding your customers. Conducting a consumer research helps you figure out your target audience’s needs, challenges, motivations and purchase behavior. Using the insights your consumer research provides will help you understand what consumers want and how you can boost their satisfaction levels. Eventually, these steps will help you retain your customers.
It’s also very helpful to understand market demands. You will know the products, services and trends users want and provide them accordingly, helping your business stay relevant in the evolving market. You will also get insights into the consumers’ purchasing behavior, what influences their purchase decisions, why some become loyal users and others never return.
Essentially, consumer research provides deep knowledge on who your customers are and allows you to channel your marketing efforts into satisfying and retaining them.
However, consumer research is never a one-off activity, it’s an ongoing practice, making it a repetitive aspect of your marketing strategy. Thankfully, rather than conduct continuous surveys to stay updated about your consumers evolving demands, you can automate the process with survey tools.
For example, a survey tool like Attest provides continuous users’ insights, allowing you to know how consumers think and behave to structure your marketing strategy accordingly. You’ll know which channels consumers prefer to communicate and view your campaigns, their current needs and challenges with your products or services, etc.
Consequently, these results help you to promote campaigns on users’ preferred channels, fix their challenges to improve their experience, etc. Using a survey tool like Attest ensures you have timely and accurate data to make the best decisions for your business.
Attest has excellent features like tracker surveys, answer quotas and statistical significance calculators that help you make decisions that will benefit your business immensely. Click here to learn more about consumer research tools.
3. Create a buyer persona
However, the way to personalize your marketing is by creating a buyer persona. A buyer persona is a fictional representation of who your ideal customer is. It lets you tailor your marketing to a specific customer, creating a targeted experience.
Rather than generalize your marketing, creating a buyer persona enables you to understand your customers better and tailor your marketing to them. You know their demographics (age, location, gender, etc.), and psychographics ( motivations, interests, behavior, etc) to meet their needs.
For example, if your target audience are high school students, discover their major challenges, goals and needs to structure your product, services and marketing accordingly.
Essentially, creating a buyer persona allows you to tailor your marketing strategy to appeal to your target consumers. For example, instead of generic emails, send personalized emails to every customer. Make relevant suggestions when they shop, and tailor your content marketing strategy to answer their most asked questions.
Consequently, you’ll attract the right customers to your business, channel your efforts to the right people, and increase audience engagement, among other benefits.
4. Harness the power of email marketing
Many marketers leverage email marketing to improve marketing strategy outcomes. Also, 64% of businesses are using email marketing to reach their customers.
Including email marketing in your strategy allows you to communicate directly with your audience, fostering strong relationships and increasing engagement. It’s also an excellent way to collect feedback and surveys directly from your customers.
For example, send product satisfaction surveys to receive consumers’ feedback about your products. Afterward, gather the feedback you receive to make necessary improvements and improve consumers’ experiences.
Although MailChimp is among the most popular email marketing software to adopt for email automation, there are cheaper alternatives. Find the best MailChimp alternatives for you here.
5. Use the right tools
Harnessing the right software facilitates your marketing strategy and produce optimal results. So, rather than manually create and track your marketing strategy, select the right software and implement them to streamline your activities.
For example, communication tools like Trello simplify your collaboration process, making it easier for you to communicate across teams. It offers built-in workflows and other collaborative features that let you set goals, create boards for campaigns, editorial calendars, etc.
Attest software helps you conduct surveys; SEMrush is excellent for search engine optimization (SEO), while BuzzSumo lets you analyze data and browse high-performing content in your industry.
Of course, the type of tools to introduce in your strategy depends on your goals and organizational needs. So, highlight the processes involved in your business’s unique marketing strategy and select the tools that fit.
6. Improve what works
The next critical step to building a successful market strategy is to optimize an existing strategy. Since you now have an excellent understanding of your target audience and their challenges, you must decide what changes and improvements are necessary to meet their present demands. Some of the changes you should always update are your content marketing, SMM, and your link-building strategy. This update is required because consumer behavior and preferences are constantly changing and updates in algorithms, search engine optimization (SEO) practices, and social media platforms.
Do you need to include Call to Actions (CTA) to every page on your landing page? Or do you need to reduce the number of forms users must fill on your website? Examine your ideal persona’s pressing challenges and structure the changes to solve them.
Use SEO tools to find target customers’ frequently asked questions and create a content plan that addresses them. The plan should highlight your content marketing goals, format, and distribution channel.
You can discover the most suitable format and channels for your audience by conducting extensive research. Use survey and email marketing software to ask your customers their preferred channels and formats for the content you create.
Examining existing campaigns and improving them to meet users’ current demands is a sure way to create a marketing strategy that works. Change is an ongoing process, so keep the strategy flexible for future improvements.
7. Launch your marketing strategy
Launch your marketing campaigns by executing the plans you’ve highlighted. Bring them together and take action. Conduct consumer research to understand your users, create a buyer persona, send personalized emails to welcome new users, provide relevant suggestions and grow your relationships.
Additionally, implement appropriate tools to automate your activities and improve an existing strategy. Keep your strategy plausible and actionable. Also, assign deadlines to stay on track and measure your progress as you execute your plan.
Remember, it’s not enough to build a strategy; what’s more critical is executing your marketing plans to achieve the desired results. So, implement all the activities in your strategy and track your results as you go.
Building an effective marketing strategy requires following seven significant steps. First, perform extensive consumer research, create an ideal buyer, launch an effective email campaign, and optimize previous marketing activities. Additionally, introduce appropriate automation software to simplify your processes. Finally, execute your strategy. Follow the steps discussed in this article to build a practical marketing strategy that works for your business.