You are in need of more customers, and your nephew says to you, “You should get on Snapchat.” You might ask yourself: is that a marketing tactic or a marketing strategy? Knowing the difference will let you better build a plan to grow your business.
A tactic is a specific targeted action, with a short term goal in mind. Tactics are thought of as the steps one might take along the way to completing a larger strategy. Without tactics, strategy could not happen. Yet, the long-term goal can't happen without strategy. If you Google something like “How to get more customers” you’ll find a lot of marketing tactics. But tactics are just one-off ideas to try. Even if they do work, their impact is small and you might be trading future success for a quick win. What small businesses need is a holistic marketing strategy. Well planned tactics should not be discounted. But in the long run, your small business will need to turn to a solid marketing strategy. That is how it will best achieve its goal.
With any successful business, first will come a strong marketing strategy. There are many components that make up a marketing strategy. Comprehending all components and taking control of them will allow your business to achieve its goal.
When looking at your audience, there are a few aspects to take into account. The first is understanding who your audience already is, and how to reach them. Knowing the demographic of established customers: what do you know appeals to them? Using what your business already knows about it’s audience will aid in figuring out strategy. Another aspect is looking at who your company wants their target audience to be. Ask yourself: who is the ideal customer? Targeting a specific demographic will allow your business to attract the ideal customer. It's a mix of combining what you know about your current customers and who you want your future customers to be. This will allow you to successfully target your marketing strategy.
The most important part of grasping the market your small business is in, is understanding where your business stands in it. Another key component is knowing your competition. You need to evaluate your business' strengths and weaknesses. This way, when you start to gather marketing strategy concepts, you can work with both of these. The next piece of figuring out your marketing strategy, is determining what makes you stand out. What differentiates your business from your competitors? Capitalizing on this difference will be what draws more customers to your business.
Your marketing strategy must have a clear objective (or plan). These objectives need to be specific, and have a time frame. Objectives can be made up of smaller tactics, or goal points, to keep everything moving along. If you want to grow your business in a competitive market, you need a solid marketing strategy.
Do not discount the effects of digital marketing. The majority of marketing now exists in the digital space. Your marketing strategy should take that into account and capitalize upon it. There is a variety of options to use in digital marketing:
Communicating with clients is key, and the best way to do so is through digital marketing.
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