Marketing Strategy

Lab7X Business & IT Consulting

Marketing strategy is a section of your business plan that outlines your overall plan for how you’ll find and attract clients or customers to your business. Don’t confuse marketing strategy with a marketing plan, they are different. Your marketing strategy focuses on what you want to achieve for your business and marketing efforts. A marketing plan details how you’ll achieve those goals.

Marketing and Sales Funnel

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A good marketing strategy incorporates what you know about how your business fits into the market and the 4Ps of marketing to develop techniques and tactics that will achieve your marketing objectives.
The 4Ps of marketing are a variety of different factors and a framework that can influence a consumer’s decision to purchase a product or use a service; and they are: product, price, promotion and place (distribution channel).
Moreover as with any strategy, you should focus on your employees and their level of training and/or experience in providing help to your business?

Here are few tips and ideas for developing your marketing strategies: For more on Sales Methodology, take a look at Lead Generation, Sales Process, and the bullet-points on the Sales Funnel Image above.

  • Collaborate with Partners and Influencers: You tend to deliver better content. On top of that, marketing partnerships are cheaper to create, see success more quickly, and expose your brand to a new audience. For example the Intel-Inside-Program, you’ll notice Intel name alongside most PC manufactures; on their products and Ads.
  • Let employees be your biggest champions and brand promoters: Motivate them to share with professional network, friends, and family.
  • Let your customers interact through open forms or other means.
  • Use Big Data to Target Customers: big-data can be used to predict purchasing trends. With this information, you can get in touch with consumers before they search for your products or services. For example one hotel chain used cancelled flights information to send messages to stranded travelers.