For smaller companies, systematic planning and strategic orientation are essential to be able to compete successfully on the market. Anyone who wants to further expand a company focuses primarily on one task: winning customers and retaining existing customers. In order to be able to carry this out successfully, an effective and systematic marketing strategy is required.
Anyone who wants to be successful simply cannot avoid a clearly defined marketing strategy. It is not only important to achieve short-term goals, but also to keep an eye on long-term goals. Thus, the competition and its measures should always be observed and based on this, targeted marketing should be carried out. The following sections outline the most important measures that should be considered.
Defining the goals
Before specific measures to generate or increase turnover can be determined, the overall goals of the company must be determined. These include the short-term but also the long-term goals. As an aid, questions can be answered such as: Where the company will be in a few years or how many new customers will have to be acquired in the next few months in order to exceed a certain turnover threshold. Another way to formulate the goals is to use the so-called SMART criteria:
– S– specific: The goals should be formulated as concretely and precisely as possible. They must be clearly comprehensible for everyone.
– M– measurable: Progress towards a goal must be measurable, i.e. there must be methods by which the measures can be analysed.
– A– acceptable: The objectives must be accepted by the target group (see next section).
– R– realistic: Only objectives that can actually be implemented should be set.
– T– deadline based: The goals must be achievable by certain deadlines.
Target group definition
Based on the marketing objectives that have been defined, it is possible to determine exactly which target group must be addressed in order to successfully implement the defined objectives. What is already known about potential and existing customers? How old are they? Where do they work? Through which marketing channels can I best reach the target group? By precisely defining the target market, targeted marketing efforts can be made to increase conversion opportunities.
Definition of the competitive advantage
In order to maintain a significant market share and stand out from the competition, a unique selling proposition (USP) is essential. This can be low prices, above average quality, fast delivery, sustainable production or environmental friendliness in general. It is important that the USP is always kept in mind during the development of the marketing campaigns and that it always comes up again.
A continuous market orientation is also of great importance. This includes continuously aligning customer needs and observing the corporate environment. It is particularly important to always keep an eye on the competition. What do their campaigns look like and how can you creatively counteract them in response? However, the aim should also be not only to react, but to actively set the tone. This should involve thinking outside the box in order to successfully draw attention to the products or services.
Establishment of a distribution funnel
In order to bring a certain systematic approach to the various phases of the purchasing process, an established sales pipeline can be used to identify where the leads are at what point in the customer journey. These findings are of great advantage in the formulation of the marketing strategy and the measures to be derived from it.
Definition of the measures
After the preparatory work has been done and the marketing strategy has been defined, the biggest problem areas should be known. It is therefore known which strategy the competitors have adopted and what the customers expect. Based on the information collected, the appropriate marketing activities can be defined.
At the beginning it makes sense not to be too diversified. A solid e-mail marketing paired with a first social media channel are already an efficient basis to start the marketing communication professionally and analytically.
Reaching the goal with strategy
It is obvious that the preliminary work in the form of market, customer and competition analysis is worthwhile in order to be able to formulate a marketing strategy tailored to the specific objectives and customer needs even in small companies. It is worthwhile investing time and, if possible, defining a certain budget in order to draw it up effectively and based on the above-mentioned criteria and steps. In this way, nothing stands in the way of a successful implementation of the marketing activities.