The very mention of developing a marketing strategy can have business owners immediately glaze over. It is not a well-understood process in business. Marketing strategy does not have to be an insurmountable and time-exhaustive process. It can be easy as 1, 2, 3.
At the core of every successful marketing strategy are the fundamentals of segmentation and positioning the business effectively. This approach ensures a targeted approach to marketing, made with precision whilst positioning a business effectively and directly in line with market needs and motivators.
1. Segmentation
The process of market segmentation involves grouping sets of clients/customers based on common shared characteristics such as, organisational demographics (e.g. size, industry, etc), problems to be solved and buying behaviours.
2. Target
Once you have analysed the potential vertical market segments, we always recommend targeting just 3 (max) target segments, to ensure focus is maintained, then building client personas for each of those segments. This process ensures business’ the client is at the centre of the marketing narrative and engages with them as individuals on an emotive level.
3. Position
Positioning the business effectively involves understanding the alternative options presented to the buyer and establishing a clear and differentiated value proposition for your business/product/service whilst taking into consideration target segment’s needs, problems and motivators.
Avoid that scattergun approach to marketing at all costs, it rarely provides any positive ROI. Instead, segment, aim and fire!