7 Steps to Build a Results-Driven Marketing Strategy in 2023
There were times when putting up billboards was enough. However, times have changed. In todayâ€™s world, picturesque signs arenâ€™t enough of an advertisement.
The dynamic digital marketing landscape requires engaging content that speaks to audiences. And what better than a results-driven marketing strategy to reach out to 4.8 billion global social media users?
Businesses that adapt to these changes are more likely to continue thriving while those that donâ€™t may simply be overshadowed. Letâ€™s take a look into 7 steps to build a strong marketing strategy to survive in todayâ€™s competitive market.
The importance of a marketing strategy
Marketing is the driving force behind a successful business. And yet, itâ€™s still overlooked by many. For example, startups often avoid investing in marketing because theyâ€™re on a tight budget. They donâ€™t understand that an effective marketing strategy can help them make the most out of their recourses.
You could jump right into selling your product or service. But without proper digital marketing strategies, youâ€™ll find yourself back at the starting point. Thereâ€™s no true connection with your customers. Your online presence is almost non-existent.
A marketing strategy, on the other hand, sums up all of your company goals and objectives. For starters, it puts you on the map. It helps you raise brand awareness, reach out to your target audience and connect with your customers on a deeper level.
7 steps to build a strong marketing strategy in 2023
This ever-evolving business landscape makes it almost impossible to get up to speed with emerging trends. By following the below-listed 7 steps to building a strong marketing strategy, youâ€™ll be one step closer to achieving your desired results.
1) Define a clear marketing goal
The marketing strategy should be crafted to aim toward a specific goal. Ask yourself – Why do I need a marketing strategy? What do I want to achieve?
A clear marketing goal helps you understand what you need to accomplish. If done right, it will provide direction, measure your progress, and ultimately empower your business to achieve its goals. Be careful not to set unrealistic goals as this could potentially lead to disappointment.
Your marketing strategy should correspond with your overall business objectives. For example, if youâ€™re looking to expand your customer base, your marketing strategy should work toward tapping into your target audience by improving your social media presence.
2) Understand your audience
Youâ€™re advertising your product or service with one goal in mind – capturing the attention of potential customers. To do this successfully, you have to understand who your audience is and what interests them. Some points to consider include:
- Creating a persona. Your audience isnâ€™t just a number. These are people with real lives, unique interests, and needs. Developing a persona based on their background helps you tailor messages to attract specific age demographics or work experiences.
- Why your solution matters. Your product or service aims to make the lives of your audience easier. Does it simplify their business? Is there an alternative solution? By addressing their pain points you understand how your product or service impacts their everyday lives.
- Possible alternatives. With the competition so fierce, youâ€™ll surely wonder how your business is positioned. When compared to others, would your audience choose you and why? Analyze the market to gain insight into current trends and make sure youâ€™re bringing something different and worthwhile to the table.
Overall, understanding your audience is the key to marketing. If it doesnâ€™t resonate with your target audienceâ€™s needs and preferences, all of your effort to create marketing content will be in vain. Itâ€™ll be like putting on a show with nobody watching.
3) Incorporate email management tools
Believe it or not, email is still relevant in todayâ€™s digital age. So many communication channels but email was and continues to be number one in the business world. However, managing email campaigns effectively can be a real chore.
Even though itâ€™s often overlooked, the need for email marketing plays a huge role in your overall marketing strategy. And with the help of email management tools, you can now streamline processes, automate workflows and personalize content for your audience in the blink of an eye.
4) Refine your brand
Your brand is so much more than just a logo. Itâ€™s the story you tell, the impact you have on your customers, and the way you interact with them. Itâ€™s the core of your business, shaping how your audience perceives you.
A consistent brand presentation can lead to a revenue increase of around 33%. Customers are more likely to interact with brands that convey familiarity. Such an example is Nikeâ€™s tagline â€˜â€™Just Do Itâ€™â€™. Itâ€™s so simple, yet so powerful, and has stuck for so many years that itâ€™s even impossible for Nike to consider changing it.
And how are you refining your brand? Are you working toward leaving a lasting impression? Because of todayâ€™s competitive market, this can be a challenging task but with the right marketing strategy, your brand can finally stand out.
5) Incorporate a content marketing agency for SaaS businesses
The SaaS landscape is crazier than ever. Companies are trying hard to navigate through constant changes and fierce competition. Has your SaaS-based company reached its full potential yet?
With the right content marketing agency for SaaS businesses, you can boost your marketing strategy and stand out in the crowd. Hereâ€™s how itâ€™ll help your business:
- Strategic planning. Content marketing agencies are experts at what they do, knowing every aspect of SaaS marketing. Theyâ€™ll help you craft a content plan that resonates with your brandâ€™s voice and values.
- Tailored content. Explaining the worth of a SaaS product can be a challenge. For example, a decision about a smartphoneâ€™s quality will be easily made after going through its specifications. But when it comes to SaaS products, itâ€™s a totally different approach – it should cover all of the softwareâ€™s benefits that could make oneâ€™s life easier.
- Audience insight. To follow up on the above, content marketing agencies know just the right way to gain audience insight. And later, use this to your advantage to create content that speaks volumes.
Overall, a content marketing agency will help you establish a strong online presence. Itâ€™ll effectively communicate the advantages of your SaaS solution while at the same time ensuring the messaging aligns with your brandâ€™s vision.
6) Up your SEO game with B2B agencies
Consider upping your SEO game by collaborating with B2B agencies. The only way to make sure your content is seen is by ensuring your website ranks high in relevant searches. At the end of the day, whatâ€™s the point of creating content if nobody sees it?
B2B agencies are a game-changer when it comes to elevating your online presence. With their level of expertise, your website will rank higher in search results, and youâ€™ll easily capture the attention of potential customers while driving valuable leads to your business.
B2B agencies will help you craft an SEO strategy that resonates with your specific audience. Theyâ€™ll conduct keyword research to make sure your website shows in search results associated with your industry.
Itâ€™s important to note that an SEO strategy doesnâ€™t only mean your website climbs the search results. Itâ€™s really a strategic approach to attracting and driving valuable leads to your business white making sure you maintain a strong online presence.
7) Decide on a budget
Your marketing strategy will hugely depend on your marketing budget. While thereâ€™s no way possible of telling you how much a specific marketing plan will cost you, as they vary between types of markets, itâ€™s recommended that startups spend around 10-11% of their revenue on marketing.
Dedicating your time to thoroughly plan a marketing budget means youâ€™re allocating your recourses wisely. Itâ€™ll stop you from overspending and will potentially result in a higher return on investment.
Succeeding in a competitive marketing landscape
A results-driven marketing strategy is the best way to succeed in a competitive marketing landscape. Youâ€™re not just advertising a service or a product. Youâ€™re also establishing a connection and trustworthiness between your brand and your audience.
To all the businesses out there, especially startups – do not despair. Strategic marketing planning takes take and hard work. But be sure that itâ€™s well worth the effort. Just wait till you see the end results.
Thereâ€™s no success without marketing. And ultimately, thereâ€™s no content without an audience. Marketing is everywhere. We encounter it in almost every aspect of our everyday lives. And what about your brand? Are you ready to create a marketing strategy that leaves a lasting impression in the business world?
Makedonka Micajkova is a freelance content writer and translator, always bringing creativity and originality to the table. Being multilingual with professional proficiency in English, German, and Spanish, itâ€™s needless to say that languages are her biggest passion in life. She is also a skilled communicator, as a result of having three years of experience as a sales representative. You can find her on Linkedin.