Marketing is the most important and integral part of any business online or offline but sometimes owners miss out in cultivating right strategy for Marketing. It is a usual practice that to outsource Marketing efforts and remain as a onlooker of the day to day business activities. Concept says that marketing should be handled by a firm which is an expert of this field called as Marketing and Advertising Agency. But it is always recommended that Marketing strategy should be built by the company itself. Because a third party can never know what you want to sell and with what requirement owners built the product. If owners built the strategy it will be more robust concrete and attractive. Only the job of the Agency will be to create campaigns around the strategy. Next I am going to tell you how to build it.
How to Build Marketing Strategy?
Mind Maps is a good way to visualize the strategy but it is a approach farther when you are an expert in devising one. I can say in simple steps the approach to visualize the Marketing Strategy. First What is your Market- High Income Group, Low Income Group, Mid-Income Group. What are there spending habits- Fashionable Items, Marketed product, Branded, Value for money, Price Tag etc. What is the spending pattern of the target group- Seasonal, Around the year. Depending on these factors you can adjudge what will be your marketing strategy for the coming years. I recommend to put a quarter or a month Strategy in front of the agency and ask the agency for the feedback.
Sample Visualization of Marketing Strategy:-
Product–> Type of Product –> Target Customer Segment –> Pricing and Max Discount Offer –> Suggested Mode of Promotion –> Total Budget
With these inputs Marketing agency actually have to put skin on the skeleton of Marketing Strategy provided by the client.
Sample Marketing Agency Marketing Strategy Plan
Suggestions of the Clients –> Modification in the strategy –> Recommendation sent to clients –> Mode of Promotion (Online/Offline) –> Budget distribution –> Presentation in front of client before Pushing Publish Button.
Another way through which you can plan your marketing strategy is by a methodology which is backward targeting.
Target to be Achieved –> Tentative Timeline –> Target customers –> Expected Market Size –> Mode of Promotion –> Budget to be allotted for desired time and target.
There are multiple ways where in you can devise marketing strategy but at the centre should be your customer. Ask these questions before you start the planning. Are you going to run awareness campaign or a Promotion Campaign? Is your customer sensitive enough to adopt your product watching your marketing campaign? How this campaign is going to build your brand value?
These questions brings customer at the center and your whole campaign will be get planned according to it. If you start from brand and then run towards your customer it will ruin your whole investment. ROI or return of investment is considered the balance on which campaign is analyzed and hence considered successful or unsuccessful.
When you visualize marketing strategy you should have to look at agency which is handling your campaign and the success depends on expertise as well as experience of the agency. Many things have to be handled at agency level and clients should not and are not supposed to intervene the campaigns but for sure strategy is to be designed by brand owners themselves. How is your experience if you have left marketing campaign to agency? And when you planned it by yourself? Share your views in the comments below. If you liked this article do share it on Twitter.
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