What is a marketing strategy?
One of the biggest things I have found in common when mentoring people and working with businesses and entrepreneurs is a loss of direction due to lack of clarity.
This then leads to loss of confidence.
How do I know? Because I have been there.
Sometimes this lack of confidence is because we haven’t quite hit the mark yet with our business idea, product or service. And that’s ok, because we may just need more time for the idea to come together. No point rushing something for the sake of it – especially if you want to create something that lasts and really means something or makes a real difference in people’s lives.
Other times though, lack of clarity can simply be because we don’t know how to pull our idea together. We don’t have all the tools in place or have a clear outline as to what we need to do or how we will go about achieving what it is we want to do.
In fact, it is likely when we are at this point, we are passionate about our idea and bursting at the seams to get it out to the world, but we are frustrated too. We are frustrated because we don’t know exactly how to do it or where we need to start.
This is when pulling together a marketing strategy for your business will help.
So what is a marketing strategy anyway?
A marketing strategy acts as your blueprint for your business. It answers the questions around what it is you do, why you do it, who you serve, how you can help, where people can find you and what it is you stand for.
It isn’t always the sexiest thing to do, but if you look at it like laying the foundation of a house, the stronger it is, the easier it is to build upon.
It also helps to give you a really solid understanding of who you are and why you do what you do. If you aren’t clear on this, how can you expect your customers to be?
In addition, a marketing strategy helps you to get incredibly clear on who it is you serve too. After all, if you don’t know who your ideal customer or customers are, how will you reach them? How will you know where to focus your time and marketing dollars? And what will you say in your marketing messaging?
This is why having a marketing strategy is so important.
It creates clarity.
And clarity equals power.
It not only gives you a sense of confidence around what it is you are doing, where you are heading and why, but it can also save you a lot of time and money.
Because you won’t be spending money trying to reach people who simply don’t get what it is you do and who would never buy the product or service you offer anyway.
We create strategies for everything.
Let’s say you are wanting to get fit. You first need to develop a strategy in order to make this happen.
So to do this, you want to be clear on why you want to get fit. Perhaps it is because you are sick of feeling out of breath and sluggish, or you want to be active for your family or perhaps you just want to feel great in your clothes. Whatever the case may be, you want to know why you are doing it.
You then need to know how you will do it. You might want to grab some new training clothes to make you feel good when you train, sign up to a gym and do some walking in the hills with a friend.
Part of your strategy then is to select which gym you will go to, what classes you attend, pick a personal trainer and lock in what days and where you will walk with your friend.
Once you have done all this, your strategy is in place. You know where you are going, who you are doing it with, why you are doing it and what your end goal is.
The plan then follows.
The plan comprises of all the little steps you will do in each area. The number of squats you do in each set, the amount of push ups per repetition, the steps you will take up each hill you walk with your friend and so on.
When you are clear on your strategy, establishing your plan becomes much easier.
When it comes to your business, it is no different.
Once your marketing strategy is in place, your foundation is set and you can then create a detailed marketing plan, a strategic content plan, build your systems and establish your brand culture as well.
If your mission is to create a lasting, meaningful business and brand, taking the time to create a marketing strategy, in the beginning, will set you up on your path. And even if you change direction later down the track, you will already have a solid base to build from and will know exactly what you need to do in order to create clarity around your new direction too.
Nereeda has recently launched her Master Your Game series of e-courses, one of which is all about marketing. I’m working my way through it now and it’s full of actionable info and guidance. Click here to check it out. You can also connect with Nereeda on Facebook and Instagram.