How to Formulate an Effective Marketing Strategy

July 07, 2020 / By Regina Thomas

Are you ready to launch your next major marketing campaign? Before you do so, there are a number of highly important points that you will need to keep in mind. These have to do with the way that you plan your next campaign. Paying attention to them will help you formulate an extremely effective marketing strategy.

Industrial Marketing Plan EvaluationStart By Identifying Your Ultimate Goal
The first thing you will need to do is to make sure that you understand your ultimate goal. What exactly are you striving for? Is it more sales within a 30 day period or more sales over a longer frame of time? Is it not just an increase in sales but also a total increase in all of your revenue streams? Is it more visitors to your website?

You may also be striving for the simple immediate goal of getting more viewers to your Facebook, Twitter, YouTube, and other social media pages. No matter what your goal may be, you need to make sure that you have a clear idea of what you want. You also need to have a workable strategy in place for how you are going to achieve this goal.

Have a Clear Idea of Who Your Target Demographic Consists Of
Another must-do is to make sure that you always have a clear idea of who will be your target audience. This ideal audience, the one that will respond to your marketing campaign in the most positive manner, will be your target demographic. This is the audience that you need to make the sharp focus of all of your marketing efforts.

You need to know exactly who your best customers are. This includes their location, their age range, their gender, their buying preferences, and many other details. In some campaigns, it may even be helpful to be aware of their religious or political preferences. The more you know about your target demographic, the better.

Pay Attention to the Numbers That Your Campaign Generates
One crucial point to keep in mind at all times is that you will need to keep a close watch on the numbers that your campaign manages to generate. For example, you need to be aware of the basis points on the profits that your marketing campaign is bringing in. This will give you a better idea of how to plan your next development.

Keeping an eye on the numbers lets you know what is and what isn't working. It gives you a better idea of what your target demographic responds to in both a positive and negative manner. And it lets you have a better than merely a general idea of what you need to include in your next series of strategic marketing campaigns.

Repeat What Works and Drop the Parts That Don't
No business owner is completely omniscient when it comes to calculating the needs and wants of their customers. As a result, no marketing strategy is ever one hundred percent failsafe. This is all the more true if you are just starting out in the world of business. There are bound to be a few bugs in your initial marketing strategy.

The important thing is to learn from any initial mistakes that you may commit. This will make your next marketing campaign all the more efficient. Take careful notice of what works, i.e., the bits that your customers responded to in an especially positive manner. Also, notice the parts they were indifferent or hostile to and drop them.

When you preserve the good bits and discard the bad, you will end up with the distilled essence of a very effective future marketing campaign. You can use the knowledge you have gained from experience in order to formulate a new campaign that is far more effective. This may be the campaign that puts you on the map.

The Time to Formulate Your Marketing Strategy is Now
There is no time like the present to get started on formulating your next major marketing campaign. The strategy that you employ in this matter will determine the success or failure of all of your efforts in this direction. For this reason, you need to make sure that your strategy is sound and your execution is precise and effective.

This is a guest post. We welcome guest posts about helping manufacturers increase sales and/or advance their marketing function. Email in your idea and you too could be a guest blogger on MMG.

Guest Blogger: Regina Thomas

Manufacturing Marketing Group Louisville, CO US 303-953-4361