Questions to Ask Yourself When Planning a Marketing Strategy
A great many small business owners and entrepreneurs who are just starting out have warped visions of marketing which ought to change. At the heart of the biggest companies in the world is heavy investment in marketing. Take Coca Cola and Budweiser for example, leaders in there field for sure, but do you think that Budweiser is the best tasting beer? Is Coca Cola the best tasting soft drink? The answer is probably no, but their investment in marketing has been such that they are industry leaders. If you have decided to follow suit and invest in marketing, there are some questions which you need to ask yourself before putting the right campaign together.
Who Am I Targeting?
We no longer live in a world whereby you stick up a billboard or a radio ad and hope that your target market is listening or watching. These days we have the power through digital marketing to accurately target the demographic which will get the best traction from. It is important to ask yourself therefore, who are you selling to? For example marketing for dentists may aim at a broad spectrum of people of all ages, but if you are selling phone skins with Justin Bieber’s face on it, you will be looking toward a very different demographic.
How Much Money Do You Have?
Whilst there are a great many ways in which you can market online without having to invest too much money, it is true that the more that you have, the more powerful your campaign can be. With this in mind, you need to not only look at how much money you are prepared to spend on marketing, but also where is the best place to spend it, to get the best return on your investment.
DIY or Digital Marketing Firm
Many businesses have decided in recent years that they will head up their own marketing strategy rather than using a marketing agency to look after things for them. In my view it is always better to use professionals in the field, and if you have these experts in-house then there is no need to use an ad agency. If however, you are simply looking to manage things in-house as a cost saving measure, you will find that the overall power of your marketing strategy will be significantly weakened and you won’t see the results that you are looking for.
All In or Spread Out
Because of the many options which you have in front of you when it comes to which marketing strategies you will employ, you will need to decide how best to spend your money. For example some people may decide to go all in on a social media campaign, whereas others may look at investing a small amount on email marketing, some on SEO and the retsina social media campaign. The answer will be down to you and both of these approaches have their benefits.