7 Steps for Setting Your Marketing Strategy

Trying to decide what to spend on advertising and where to spend it can be very confusing, frustrating, and painful or exhilarating, interesting and fun :). Let's try to sort this out and make it a bit less of the first three and a lot more of the last 3. There are 7 basic steps to setting your marketing strategy :

1. Identify the strengths, weaknesses, and goals. What sets your business apart? What do you do better than your competition? In what areas does your business need some work? Where do you want to be with your business in a year, 5 years and 10 years from now?  Once you have your lists written then go through and prioritize them. 
2. Know your competition. Take note of where they are advertising and what they feel their strengths and weaknesses are.
3. Analyze the advertising you have done in the past. What works and what doesn't? Shift funds accordingly to get a bigger bang for your $$.  ie; if your yellowpage advertising isn't working like it used to then it may be time to move these funds to a more productive form of advertising. When trying something new set your goals accordingly. 
4. Develop your strategy. Know your target market! ie; if your business is a high end boutique you will probably rule out advertising to bargain hunters and children. Narrow your focus to reaching your target market, getting your best possible ROI and branding your business appropriately. Take advantage of as much free advertising as possible but preserve the reputation of your company.
5. Track and measure your marketing plan. Your plan should include reviews at set intervals no less frequent than once a month. You may want to review internet advertising more often. Monitor leads, links, page views, presentations, blog posts, proposals, conversions, click throughs and phone calls as well as sales forecasts and budgets.
6. Alert your current clients of your new presence on the web. Prepare to ask for e-mail addresses and social media business links, as well as ratings and reviews
7. Review, Revise and Re-position. Allow room for change and growth in your marketing strategy. As your business changes adapt your advertising to fit your needs. Whether you need to change your strategy due to internal or external reasons make your you have allowed ample time, space and resources for this.

Ready to start advertising? Call Yay-N-Wow Social Media Marketing today. Internet marketing at a rate you can afford. 772-579-8399