Marketing Strategy For New Business – Getting started in marketing can be confusing and even overwhelming. How do you know what works and what doesn’t? Where should you invest the most efforts for maximum results? How do I start? Well, you need to develop a strategy before jumping into tactics.
We take the time to understand your business and marketing goals and create a personalized digital marketing strategy for your company. Whether it is through search engine optimization, paid online advertising, email marketing or social media outreach, we are able to create a marketing action plan that will attract more customers to your business.
Marketing Strategy For New Business
We use the following small business marketing system to address the seven areas every business needs to work on to be successful in marketing.
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A website that looks great and attracts customers is the first and most important step in any marketing system. This is the point that all your other marketing efforts point to. Your website must build trust and guide your customer’s journey before you can make a sale.
Another key part of your marketing system is your content platform. It’s the messages you base all the content you publish on, whether it’s on social media, email campaigns or your website. Content is how you attract ideal customers, by focusing on their problems. It’s also how you tell your story in compelling ways , and that is the solution to your customers’ problems.
Search engines, like Google, are the number one way customers find small businesses. Improve your search engine rankings by managing your citations, using the right keywords and optimizing what goes on behind your website.
Social media is a good way to connect with your potential customers, provide them with valuable content and updates about your products or services. Social media can create awareness for your business if used correctly.
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Reviews reveal how your customers feel about you and reinforce your good reputation. Whether it’s Google reviews, a review site like Yelp, or your own website, they help build trust with potential customers and establish yourself as an authority in your industry.
Once you’ve earned the trust of your ideal customers, email marketing allows you to build and nurture that relationship—to the point where they’re ready to buy. Use email marketing to share targeted, valuable information.
Capture the buyers who are ready to buy with pay-per-click (PPC) ads and create ads with display ads. In order to promote your business online and provide potential customers with action, paid online advertising is necessary. Market research is a big and important part of your marketing strategy. As we navigate the business landscape of Covid-19, it can offer clarity and direction at a time when it is easy for current circumstances to overwhelm us and throw us into uncertainty.
Yes, it’s that time again. Where you can be deep with all the knowledge of the industry. So you know what makes your industry, your ideal consumers and your competitors tick when it comes to your new or USP-laden products or services.
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And this is not only for large businesses but also for small and medium-sized ones. Whether you are launching a new brand, experiencing growth, developing your business offering – wherever you are with your business – market research provides a clear and broad picture of the market you are in. It helps you generate leads, drive sales and communicate your key messages with your core customers.
You may have already delved into market research in preparation for the launch of your product or service. Understand if there is a desire, a need, a demand. What was currently missing in the market? What did the existing players in the industry do? What gap needs to be filled? And how could you fill it – and make it even better – with your creation?
You’ve already come up with ideas for your executive summary (the first part of your marketing strategy, written right at the end). Next, the first meaty part of your marketing strategy that delves into the market itself is market research. This is where you solidify your understanding of the market you are going to market to.
Market research is where you collect, collate and interpret information about the market where your product or service(s) sits. It is essential to help you solve marketing challenges and access marketing opportunities. If you’re launching a new product or service, entering a new market, or even doing both at the same time (known as diversification), market research will likely be part of your go-to-market plan. We’ll delve into those!
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For now, in the context of your marketing strategy, market research drives ideas and guidelines that influence your brand’s goals and actions. This allows you to test the market’s interest in your product or service, gauge market trends, research how consumer demands are changing and how competitors are evolving to keep up. For a deep dive on target customers, check out Part 3 of our Ultimate Marketing Strategy series. And for competitors, go to part 4.
When conducting market research, you aim to gather in-depth market insights to provide a road map to help shape your marketing strategy.
There are two main types of research you will use to formulate your market research and gather this information:
In addition to providing a super clear picture of the market you are marketing to, market research has a whole host of other benefits for your brand:
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Before you begin your market research, make sure your ultimate goals and objectives are clear. Your business goals, challenges, customers and competitors – and where they fit into the wider market – will drive this and form the core of your market research.
Yes, it deepens. And for good reason. When done comprehensively, market research creates powerful and roaring positioning, enhancing your brand and its place in the marketplace.
So we know the purpose and critical nature of market research, along with what to include to maximize its effectiveness. It is also important to consider the commonly seen market research mistakes to avoid. Usually done in an effort to save time, money and energy resources, the long-term consequences of these can be detrimental to the marketing – and viability and ultimate buyability – of your brand.
Ultimately, solid market intelligence helps limit the risks of your marketing decisions. Start working on your market research and you can better identify your market place, improve your knowledge of your customers and competitors, develop and market your products and grow your business.
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Your market research is the backbone of your marketing strategy. In today’s changing, competitive and global market, your marketing strategy must have accurate and thorough research at its core so that your business can truly reach its potential.
We brainstormed and now know what to include in our executive summary, and tackled market research. Next, it’s all about delving into your target customers. who are they? what do they want Why do they want it? Where do they go for it? What solutions solve their problems? How do they approach it? When do they decide to buy? What factors influence their buying decisions?
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