If you remember the difference between speed and velocity from high school, you will not find it difficult to understand the concept of targeting when it comes to making sales and marketing strategies.
Digital Marketing and Social Media Marketing are on an all-time-high today, due to the astronomical scope they offer to businesses.
But 58% marketing efforts simply go down the pipe due to lack of a well-defined target, or a well-formed marketing strategy.
This is because we have too many marketing channels at our disposal that we often forget to cohesively use them for a unified target. Businesses nowadays don’t shy from using anything from newspaper ads to Facebook ads but the net effect usually is quite minimal.
So, in order to unify your whole marketing game, you need to get the five basic building blocks right and fire them all in one direction. You already know how and when to use the marketing channels. Read on!
Knowing your Customers
The first step is to know your customer and it is not the same thing as knowing the demand for your product.
Your customers are picky, carefully steering crusaders of the market who are not interested in things that aren’t directly thrown at them. Each time your marketing efforts don’t call out to your exact customers, they fail.
This is why, knowing a lot about your customer is so important. You need to know who you are selling to, how would they like your offering and where they are located. Most strategies are target-everyone types that also miss everyone.
Just as in an olympic shooting contest, there is only one single bullseye target, your concentration group may be quite small. And it’s always better to stick to it.
A well directed marketing strategy for 50 people can gain much more than an aimless effort directed at a group of 50,000.
Displaying your Business
The next thing is working on how you display your business to your audience.
Without taking away the credibility of an impressive outlook, at the same time, it should be quite simple. Businesses that portray themselves as celebrities or create a glamorous image of themselves without actually telling what they do, don’t achieve anything.
This is because people don’t know what they will get out of them and hence, they are easily forgotten.
Take the example of PayPal. You don’t need to stress on recalling what PayPal does, after hearing about it just once. Suggestively, it is something related to provide assistance (Pal) in making purchases (Pay) and that’s what it really is.
The simplicity is the effectiveness of such a business marketing strategy. Make yourself count by stating what you offer as easily digestible as you can.
Work on your USP
Standing apart from the crowd is important.
As a business owner, you must have something different to offer to your customers. Simply because an innovative aspect or something afresh is an easy attention grabber.
Most startups rely more on their innovation than on their product. It’s the age of reinvention and with little creativity, you could offer something that the world isn’t getting from anywhere else.
Owning a USP instantly boosts your marketing game as it will help you not only target your audience, but also win their attention in the same marketspace.
Defeating your Competition
Always remember that you’re not the only one fighting for attention in the market and hence, your strategy should consider your immediate competitors.
Your efforts should not collide with them, instead, they should steer past from their strongholds. Try to capture areas that are still vacant and make them your stepping stones.
Targeting a competitor head on is not always the right decision, you have to play cunningly at times. The ultimate goal is to remove the competitors from your way, but in a fashion that doesn’t cost you, your life.
Last but not the least is, how much are you aware about your own self? It is contradictory to ask such a question but is crucial to ask.
Before you start drafting your business strategy, you need to be fully aware about your resources, your task force, your brand image, your goals and your capacity to fight.
This detailed information prepares you for executing the strategy in the best way possible and you can expect the kind of Return on Investment you’re hoping you get.