Marketing strategy
A brand marketing strategy implies the creation of a detailed plan for increasing a company's profits through advertising channels.
Marketing strategy can be developed both for a separate direction of activity - for example, strategy of production, training of experts or HR, or it can cover the whole cycle of company functioning.
Also, a distinguishing feature of a marketing plan may be the term for which it is created: the strategy may be short-term or long-term.
What goals the marketing strategy solves
Marketing strategy is designed to solve a range of business problems of the company. Types of tasks correlate with certain features of activity:
- Market goals. If the company management with the help of marketing technologies plans to expand the share of its presence in a niche, increase the number of active customers and increase profits - it is about achieving market goals.
- Manufacturing. Marketing tools will help to introduce new technologies into production processes and promote innovation; can increase the volume of production, as well as effectively plan and automate the work of the team in production.
- Organizational. The marketing approach implies the development of solutions to optimize management, developing a strict internal hierarchy and determining the responsibilities and tasks of each department of the company. Due to the strategy realization you can estimate the work of every department, avoid duplicating functions and optimize the staff.
- Financial. In the marketing strategy you can lay down the goals of financial optimization of the company's activity. For example, the determination of ways to save the budget for the production of goods, increase the number of transactions, increase the profitability of the company.
Stages of marketing strategy development
Developing a marketing strategy for your company, our staff will certainly follow a clearly defined algorithm and sequence of the main stages of development:
1. The in-depth analysis stage
2. Practical plan stage
3. Control stage
The in-depth analysis stage
This stage is complex and time-consuming, requiring not only deep analytical skills, but also a wealth of experience in marketing. At this stage we:
- We analyze the external environment of the brand. We make a map of geographical and economic opportunities of the region, analyze the level of technology development, implementation of innovation and the level of maximum, average and minimum income of its inhabitants, peculiarities of legislative regulation of business activity and lending conditions, the level of state support of business. We estimate and characterize applicable global, national and local trends.
- We analyze the market. We research the niche, estimate the threats and opportunities of operating in it. Evaluate the degree of logistics development and possible ways to optimize work with external suppliers, carrier companies, and employees. We define the target audience and its socio-demographic, economic characteristics. If necessary, we analyze the licensing terms, distribution network of the goods and their production.
- We give a SWOT-evaluation of the company. We use the methodology of analysis of strengths and weaknesses, external threats and maximum internal capacities of your company that can be directed to the solution of urgent financial and production tasks.
- We carry out competitive analysis. It is important not only to know your competitors, but also to understand how they operate in the market, in what they succeed, and in what they obviously lose to you. We map your competitors, examine their unique selling proposition and capabilities, and how realistic their prospects are for capturing a new part of the market.
Practical plan stage
After the analysis and evaluation of the company, we proceed directly to the practical stage of developing a marketing plan. The main actions can be presented as:
- Goal-setting. We will help you highlight the main goal of your marketing activity and define real, concrete, measurable and, no less importantly, achievable goals. Only concrete figures and terms, for example: to move to a new stage of business development: from a candidate to the leaders to become an industry leader in your region; to develop the brand digital audience in social networks to the size of 200 thousand in six months; to increase income by three times in 12 months. In the future, the process of achieving the goals and all indicators we will evaluate with you in dynamics.
- The formation of the USP, the definition of pricing policy. No matter what price you offer your product or service to consumers, there will always be those for whom it will be too expensive, for someone - cheap. In order to clearly argue the pricing of your product, and close all the possible objections of users, we will determine the main competitive advantages and qualities of your company as a whole, and products in particular. We will create a communications and information plan: through which channels and with which messages you will deliver this information to potential consumers.
- Developing a step-by-step plan. When goals are set and benefits identified, it's time to develop a plan of specific steps to achieve them. We'll detail what you need to do to gain market share, develop your customer and subscriber base, increase revenue, or discover a new line of business. This plan also includes a roadmap for dealing with unforeseen circumstances, both local and global force majeure, from new competitors to a general economic crisis in a niche.
- Approval of the marketing plan. The goals defined in the previous step and a specific action plan become the basis of the marketing plan. It presents each goal in terms of milestones and specific performance indicators. They will be your benchmark and the most accurate measure of project performance.
Control stage
It is difficult to overestimate the importance of this stage. Each step and action on the way of implementation of the marketing plan is subject to regular control and evaluation: whether they are effective, how much they help to get closer to the intended goal. This approach helps to detect possible mistakes and weaknesses at once, not when the project will fail.
We also monitor the relevance of the developed and approved plan in relation to the market situation, the level of development of digital technology and the implementation of innovations in your niche.
We promptly take into account all changes in the market and, if necessary, make adjustments to the plan. Our specialists also control such key indicators as the level of sales of the promoted product and the level of customer satisfaction (we monitor independent evaluations and feedback).
Such a thorough approach to the control phase helps us keep our hand on the pulse and strictly follow the goals and direction that have been defined by the marketing strategy.