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7 essentials for a great marketing strategy for any start-up

Posted on 02/12/2019

There are some fundamental marketing techniques that every business should consider when developing a marketing strategy.

Starting a business is an exciting time for any entrepreneur and having an excellent marketing strategy at the core of the business, will mean the difference between success and failure.

1. Research Research Research.

Having a clear understanding of the market, the customers’ needs and wants, feedback on the product or service, how much the customers are willing to pay and how they will buy, should be at the core of any marketing strategy.

Understanding who the customers are and what they want will ensure the business offer is compelling and tailored for the market the business is targeting.

2. A strong brand

Every business needs a strong brand. Your brand should reflect your business goals, your personality, tone of voice, your offer and your core values.

Start-ups should use their brand consistently across all their communication channels from the first phone call right through to developing brand loyalty.

3. Clear, jargon free messaging

No-one wants to read or listen to a whole lot of technical, jargon-centric messages to describe a product or service.

Your offering should be clearly described, using simple, easy to read messages that appeal to a wide audience.

4. Have a look at the marketing mix

There are 7 core areas businesses need to get right to create an effective marketing strategy : Product mix, Price, Place (where you will sell), Promotion (marketing channels), Processes within your business, People and Physical Evidence.

5. Communication Channels

Selecting the right channels to engage your customers will help promote your message to your target customers.

Whether that is networking, social media promotion, video or creating a website, ensuring your brand is clearly presented on the right communication channels is essential for generating leads and amplifying your brand.

6. Setting Goals

Know exactly what you want your marketing strategy to achieve.  Are you looking to build brand awareness, do you want to generate leads, are you aiming to convert existing leads into sales or is your goal to maximise brand loyalty?

Whether it is one or multiple goals from this list, know exactly what you want your strategy and campaigns to achieve.

7. Develop a targeted, goal driven tactical plan

Start-ups often fall down at the final hurdle of their strategy as they try to implement their marketing strategy on an ad hoc basis, with no structured plan in place.

A 6 – 12month plan is crucial to maximise customer engagement, brand exposure and generate leads.  Set goals at the start of each campaign and analyse and measure the campaigns to see which of them have met their target goals.

In the words of Benjamin Franklin, “By failing to prepare, you are preparing to fail.”  Every business should have a marketing strategy and a tactical plan to implement that strategy.  And by following the 7 essentials for a great marketing strategy highlighted in this blog, you are sure to succeed.

 

This is the first blog in a series for the Women in Innovation programme. Follow #WomenInnovate or sign up to our online community to stay up to date with future articles.

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