The true value of a brand is defined by the perception of its target customers. To properly influence perception, you must deliver the ideal message, at the right place and the right time … every single time. This starts with clearly defined personas, a strong value proposition and a compelling story. These items are then used to support a winning marketing strategy that considers paid, earned, and owned media, traditional and digital tactics. Key Performance Indicators (KPIs) provide the metrics and benchmarks to drive dynamic optimization and create a strong return on investment.
Strategic Marketing Aligned with Business Goals
Marketing alignment with business goals involves ensuring that marketing strategies and activities are directly linked to and support the company’s overarching objectives. This entails setting shared objectives, clear communication across departments, targeting the right audience, using meaningful metrics, allocating resources according to business priorities, adapting to changes, and regularly evaluating performance and market trends. A customer-centric approach, long-term perspective, and ROI measurement are also vital components of this alignment, ensuring that marketing tactics contribute to immediate goals and sustainably support the company’s growth and success.
Creating a Marketing Plan
Marketing strategy development encompasses a sequence of actions aimed at delineating your objectives, identifying your target audience, shaping your messaging, and devising the tactics that will propel you toward your goals. Here are some initiatives you can take to develop an effective marketing strategy:
Set Clear Objectives: Define what you want to achieve with your marketing efforts. Whether it’s increasing brand awareness, boosting sales, expanding into new markets, or launching a new product, having clear goals is essential.
Know Your Audience: Understand your target audience’s demographics, behaviors, preferences, and pain points through market research. This helps tailor your messaging to resonate with them. Knowing your audience often requires an in-depth competitor analysis and the creation of buyer personas.
Competitive Analysis: Research your competitors to identify their strengths, weaknesses, and market positioning. This can help you find gaps in the market and set marketing goals to differentiate your brand.
Positioning and Messaging: Determine how you want your brand perceived and craft messaging that communicates your unique value proposition.
Choose Marketing Channels: Based on your audience, goals and desired metrics, select the most effective marketing channels. This could include social media, email marketing, content marketing, paid advertising and events in the marketing mix.
Content Strategy: Plan your content to engage your audience during your marketing campaign. This could include blog posts, videos, infographics, and social media updates.
Elements of Marketing Strategy
The marketing mix plays a pivotal role in shaping a comprehensive marketing strategy. It serves as the strategic recipe for businesses to effectively reach their target audience and achieve their objectives.
Within this mix, promotion encompasses various channels, including paid, earned, and owned media, each playing a distinct role in reaching and engaging with the market segment.
Paid Media: Paid media is a vital component of marketing where businesses invest in advertising or promotional content. Think of it as a way to spread the word about your products, services, or messages to a broader, defined audience. Your target market can be clearly defined in many paid media platforms – including targeting existing contacts in your database, others that may closely match your contacts, or even starting from scratch and targeting by desired qualities or actions taken. It comes in various forms, online and offline, such as pay-per-click (PPC) ads and social media advertising. Meta and LinkedIn are the most common social media platforms for paid advertising.
Earned Media: Earned media is the reverberation of applause that finds its way to a brand, business, or person. It’s the spotlight you didn’t rent but rather earned through the whispered recommendations, contagious shares, and subtle nods from a captivated audience. While paid media requires a ticket, earned media slips in through the back door, carried by the winds of authentic passion and genuine curiosity. A large part of earned media can be seen through social media marketing, where your followers engage in your organic content. Examples of earned media include influencer mentions, social media shares, word-of-mouth, and media coverage (press releases, video statements, etc.) through outreach opportunities.
Owned Media: Owned media in marketing is like having your own playground on the internet. You have full control over the websites, social media accounts, and other marketing channels. You share things, talk to people, and make connections in these environments. You’re the boss here, unlike when you borrow attention from other places in paid or earned media. You get to decide what happens, how it looks, and how you talk to your friends or customers. It’s your space to play, create, and show who you are. Owned media plays an important role in SEO and brand awareness. Examples of owned media include your website, email lists, blogs, and whitepapers.
A successful marketing strategy can contain elements from each of the media types aligned with your chosen marketing tools, marketing budget and marketing objectives.
Types of Marketing Strategies
Digital Marketing (also referred to as online marketing):
Content Creation: Creating and distributing valuable, high-quality, relevant content through different marketing activities to attract and engage a target audience, such as new customers.
Social Media Marketing: Using social platforms like Facebook, Instagram, Twitter, and LinkedIn to promote products or services.
Email Marketing: Sending targeted emails to a list of subscribers to promote products, share news, or build customer relationships.
Search Engine Optimization (SEO): Optimizing website content and structure to improve organic search engine rankings – a key element in digital marketing strategy.
Pay-Per-Click (PPC) Advertising: Running paid ads on search engines like Google or social media platforms to reach desired outcomes such as ideal conversion rates related to your website traffic and actions taken on the website.
Print Advertising: Placing ads in newspapers, magazines, brochures, and other print media.
Television and Radio Advertising: Creating commercials to air on TV or radio stations.
Direct Mail Marketing: Send physical promotional materials via postal mail, such as postcards or catalogs.
Outdoor Advertising: Using billboards, transit ads, and signage to reach a broad audience.
Blogging: Creating and maintaining a blog to provide valuable information to the target audience.
Video Marketing: Producing videos to showcase products or services or educate the audience.
Infographics: Using visual content to convey information in an engaging way.
Partnerships with influencers in your industry or niche to promote your products or services to their followers (your potential customers) through platforms such as TikTok or podcasts. Influencer marketing plays an important role in public relations and referrals to your brand’s offerings.
Choosing the Right Marketing Team
Whether you’re a small business trying to make a splash or a Fortune 500 company with multiple marketing techniques in the bank, finding the right marketing team can be a challenge.
At Brown Bag Marketing, we have experience working with all sizes of firms, spanning numerous industries – not to mention our fully in-house staff specializing in integrated marketing solutions. Whether your company needs digital, social, creative or website development, we are ready!
Contact us today to get your marketing strategy off the ground.