Creating a solid foundation for your marketing strategy

I can’t say enough about the importance of developing a marketing strategy before executing tactics. Below is the foundation knowledge you must know to develop a powerful strategy:

Define your product or service: How is your product or service packaged? What is it that your customers are really buying?

Identify your target market: You don’t have the time or money to market to everyone or anybody. Who is your ideal customer? Do you have enough information to create target customer persona’s?

Know your competition: Even if there are no direct competitors for your service, there is always competition of some kind. Something besides your product is competing for the potential customers money. What is it and why? What is your competitive advantage or unique selling proposition?

Identify your Niche: Is there a market segment that is not currently being served or is not being served well? What will it take for you own it?

Build awareness: Generally prospects will have to be exposed to your message 5 to 15 times before it is top of mind. You must stay in front of your clients consistently, with consistent messaging, if they are going to consider your product when that need arises.

Establish credibility: Potential customers must trust that you will deliver what you say you will. Often you need to give them the opportunity to “sample”, “touch”, or “taste” the product in some way.

Be Consistent: In every way and in everything you do. This includes the look of your collateral materials, the message you deliver, the level of customer service, and the quality of the product.

Maintain Focus: Focus allows for more effective utilization of the scarce resources of time and money. When you promote a single product to the right narrowly defined target market will bring more success.

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