identifying these groups and their needs through market research and market reports, and then addressing those needs more successfully than your competitors, should be one of the key elements of your marketing strategy. you should aim to sell to the market segments that will be most profitable for your business. you should create a marketing strategy that makes the most of your strengths and matches them to the needs of the customers you want to target. for example, if a particular group of customers is looking for quality first and foremost, then any marketing activity aimed at them should draw attention to the high quality of your products or service.
there are many ways to achieve this – such as various forms of advertising, exhibitions, public relations, digital marketing and an effective ‘point of sale’ strategy. monitoring and evaluating how effective your strategy has been is a key element, yet often overlooked. a simple approach is to ask each new customer how they heard about your business. once you have decided on your marketing strategy, draw up a marketing plan that sets out how you intend to execute that strategy and evaluate its success. read more about how to write a marketing plan.
however, it doesn’t have to cost a fortune and you don’t have to be a creative genius.the key is developing a marketing strategy that forms a solid foundation for your promotional efforts. how would you even know how many curtains to buy or what size they needed to be?you can develop a strong marketing foundation by:1. defining your product or service: how is your product or service packaged? and if you offer several products or services which ones are the most viable to promote? who does it make sense for you to spend your time and money promoting your service to? something besides your product is competing for the potential client’s money. what is it and why should the potential customer spend his or her money with you instead?
5. developing awareness: it is difficult for a potential client to buy your product or service if they don’t even know or remember it exists. you must stay in front of your clients consistently if they are going to remember your product when that need arises. often, especially with large or risky purchases, you need to give them the opportunity to “sample”, “touch”, or “taste” the product in some way. this includes the look of your collateral materials, the message you deliver, the level of customer service, and the quality of the product. this in part is the reason for the success of chains. your promotional budget will bring you greater return if you use it to promote a single product to a narrowly defined target market and if you promote that same product to that same target market over a continuous period of time. for more information go to www.strategies-by-design.com or call 972-701-9311. about the author: julie chance is the president of strategies-by-design.
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