Sometimes, marketing can feel less like strategy and more like juggling, especially with smaller businesses that tend to wear many hats. However, not only is it doable, but it’s imperative if you want to win in business. Keep reading for our top 7 tips to help you do it. First, though, let’s start by setting the foundation.
Market Research, 4 Ps, Metrics, & Budget
A handful of key things are important to set you up for success.
- Use market research– you need insights into your customers, industry trends, and what your competition is up to if you want to be the top dog.
- Use the 4 Ps (Price, Product, Place, Promotion)- position yourself well and ensure what you offer is aligned with market demand using the 4 Ps as your framework.
- Track with KPIs- break them down at the campaign level so you can see what’s working clearly and what’s not. Adjust as needed.
- Use a budget- even small budgets can have a big impact when used well. Setting a budget helps ensure you’re spending on the right things at the right time, keeping your strategy sustainable over the longer term.
Now, on to the strategy tips!
1. Get SMART and Step Beyond Ambiguity
Ambiguous goals = ambiguous results. Sure, we all want to “make money”. But if that’s your only end game, you may need to take a step back. Your end game needs to go beyond mere profits and think about the kind of experience you want to give your customers and the rep you want to cultivate.
Then, you can lay out SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound) and decide how you plan to measure your success. This French Bakery had a value-driven goal of positioning itself as the hot spot for Parisian pastries. We think they succeeded!
2. Clarify Team Roles and Get Aligned
Though it sounds like a pretty corporate buzzword, alignment is actually a beautiful thing and keeps the whole team moving toward the same goals. But for that to happen, everyone needs to understand the goals and how their role plays into it. Consider using tools that allow for shared workflows, for greater accountability and transparency.
3. Know Your Audience from the Inside Out
No audience remains static. Customers’ needs and habits change, which means keeping your buyer persona current is key. You should know who your audience is, what they value, where they hang out, what problems they face, and more. Zero in on your niche to tailor your messaging and attract the right people.
4. Scope the Competition
This is a critical area that’s well worth your time. The goal is not to copy but to discover what’s working for others, identify gaps, and identify how you can better serve that audience. You can use tools like Sprout Social to glean insights and trends you might otherwise miss. Even brands in adjacent fields can offer some great intel. You don’t have to be bitter rivals to mine for the gold!
5. Get Focused and Consistent
Running a business online means your messaging is spread across multiple channels. That’s why a focused strategy is vital to keeping your messaging clear and consistent everywhere. Drill down into your customers’ pain points and brand values, and tailor your messaging for the channels where your people already spend time in ways that are authentic to your business.
6. Streamline and Repurpose (AKA Work Smarter, Not Harder)
Many businesses make the mistake of thinking they need to create new content from scratch all the time. No. Many successful brands have learned the art of repurposing. For instance, taking blog content and turning it into video scripts and social media posts. Strong workflows and templates you can reuse can help streamline the creation process even more.
7. Monitor and Optimize Your Performance
That old saying, “Test everything,” applies here, too. There’s no point in trying to take action without hard data because you don’t know what’s working. So, test, track, adjust, and repeat. Use multiple tools and platforms to combine insights and get a better picture of how your strategy is working, and continually refine based on data.
Granted, some of this stuff isn’t rocket science, but it does take some focus and commitment to create a strong yet nimble marketing strategy that works. Commit to it now and reap the rewards later. After all, if a niche bakery can do it, you can too.
