What is in a marketing strategy?
Now that you’ve identified your goals and found room for improvement, it’s time to roll up your sleeves.
Crafting a marketing plan takes time and resources. So, we’ve put together a helpful list of essentials for any business below:
Why do I need a budget?
You first need to know the amount of resources you can invest in your marketing strategy.
To set a realistic budget that you can afford, first take a look at any recurring costs, such as:
- Website hosting
- CRM software subscriptions
- Paid ads
- Email marketing software subscriptions
Once you’ve got everything on paper, you might need to reassess your strategy. Certain costs may need to be cut to fit your wider business strategy.
For example, if you’re running a small business, you can use a free email marketing platform to cut down on costs.
Why does my business need a website?
Many small business owners don’t think a website is an essential investment.
In fact, 28% of small businesses rely solely on social media to establish their online presence.
If you think back to the recent Facebook and Instagram crash, it’s easy to see why using someone else’s site isn’t the ideal solution.
A website offers autonomy. You can use your website to sell your products online and further your business plan. In addition to that, a website also proves to new customers that you’re a credible business.
At the end of the day, anyone can set up a social media account and pretend they’re running a company. Since a website requires constant investment, having one affirms the legitimacy of your operation.
A good marketing strategy does not exist without a website!
How to utilise social media
A lot of small business owners feel like they need to be present everywhere to reach the largest amount of people.
However, choosing the platforms your audience uses is much more important than following the newest trends.
Social media is a lot of work, so make sure you’re not spreading yourself too thin.
For example, if you’re targeting businesses, you’ll have better luck on LinkedIn than Instagram.
So, before you start creating any profiles, research which platforms your target audience uses the most. There you can run a micro-influencer marketing campaign that will constantly generate high-quality leads for you.
Track your progress
Treat your marketing strategy the same way you treat other elements of running a business.
For example, you don’t just manufacture products and sell them without analyzing your ROI. The same principle applies to your marketing strategy.
To assess the success rate of your marketing campaigns, you’ll need to keep an eye out on analytics.
Today, most social media platforms offer free analytics insights that you can use to inform your strategy. Set a time frame in which you’ll observe the success of your posts.
That way, you can see what works best and eliminate what doesn’t work at all. For example, you want to see if you’re getting phone calls – how many and when and which agents perform the best.