You Don’t Have To Start Marketing Right Away, Here’s Why
A Solid Marketing Strategy
Let’s start from the beginning. What do you think of when you read the word “Marketing”? Product Advertisements, Social Media platforms, and Business Cards and the like are usually what we notice about a brand. These are all part of marketing a business. You’re ready to market your business if you have a solid marketing strategy.
A good marketing strategy is built with a good understanding of the following:
- Your target consumers: Who should your target market be, considering the product or services you offer?
- Current Market: What is the condition of the current market that your business operates in? Consider the influence of the market conditions on your business.
- Your competitors: Big and small, analyze your competitors so that you can come up with a strategy that is unique to your business, making you stand out from the rest.
- Marketing budget: Your business should have a good marketing strategy, but it should also fit into your budget.
Your digital marketing strategy is just as important, since most businesses require a good online presence and image to succeed in the digital world and offline. A successful digital marketing strategy often consists of the following elements:
- An Engaging Website: It’s quite obvious that this is a crucial element for the success of any business. Your website should be one that not only attracts or keeps customers.
- SEO- Search Engine Optimization: Improving or “optimizing” your website so that it ranks higher in search engine results.
- Social media marketing: A popular and effective way of creating brand-awareness and boosting traffic to your website by engaging with the target market through social media platforms.
That being said, now you know the importance of having a solid marketing strategy in place before you start your marketing campaign for your new business.
Are You Ready For Marketing?
When you take the time to come up with a marketing strategy that is suitable for your business, you will have a deep understanding of what your brand should mean to others, and what makes your business stand out from the competition. This means your business is ready to be marketed.
Marketing Decisions And Their Impact On Your Business
Marketing decisions are basically the decisions that you take for marketing your business to result in converting leads to sales. If you’re a startup, you would know that taking good marketing decisions will be beneficial to your business currently, as well as in the long-run.
Poor marketing decisions are the result of the business (or the marketing team) not being aware of what they are working towards. This can lead to low customer satisfaction, resulting in low sales, and in the worst-case scenario, the business will have to be ultimately shut-down.
Making marketing decisions that will help your business in keeping your customers and also gain new ones, are good marketing decisions. But what are these decisions, and how to make the right decision for your business, in particular? When your business is new to the market, your main goals should be to understand your business, who your target customers should be, and what you are trying to convey about your brand to your target market. This will help you to understand which area of your business requires your focus, and make the best marketing decisions for your business.
As a startup, you might be ready to put your work out there. Without a proper marketing strategy, this might not be a good idea. And not having done research on yourself, who you aim to market towards, and what you’re marketing, means that your marketing strategy is likely to fail.
Making the right decisions for a successful marketing campaign involves being well-aware of your brand, what your brand stands for, how it will create value for your customers, and what makes your business stand out from the competition. A good marketing strategy includes activities that will result in increased engagement, increased retention of customers, and increased conversion of leads into sales.
Start-ups And Poor Marketing Decisions
Start-ups usually face problems while marketing their business for the first time, such as:
- Incomplete or insufficient research about their target customers: this leads to not being able to reach their target audience.This makes it hard for the business to gain customers.
- Inconsistency causing confusion: The information that you share with your audience should be consistent with your values and goals, helping you build your credibility and reputation. Consistency is what builds your brand, without it, businesses, especially start-ups will always be a million steps behind on achieving their business goals. If what you share is inconsistent with your values, or your goals, or the previous information shared, it will cause confusion among your customers.
- Ineffective Tracking of Progress: Tracking your performance can help you identify areas in your business that show progress, or need improvement. Using a good marketing strategy without properly tracking your progress is simply a waste of your marketing efforts, and that is an expensive mistake to make! Tracking can show you whether the marketing strategy currently in place is working as planned, or if it needs to be tweaked.
Is There A Solution?
It’s understandable if you are concerned about the strength of your marketing strategy, since it holds a great deal of influence on the success of your start-up.
We know that you may be overwhelmed by now, thinking of all the ways in which your marketing strategy might not be working for your business, or if you are confused about how to boost your progress in digitally marketing your brand, which is why our team of professionals at Eighty-Six Media is here to help you.
At Eighty-Six Media, we believe that when it comes to digital marketing, there is a solution to any problem that your business might face. With our team of professionals here to help, you can rely on us when it comes to preparing the most suitable digital marketing strategy for your business.