What’s your game plan?

game plan - marketing strategy - create sales

Let’s talk about marketing strategy.  How well do you, and your marketing processes, know who your ideal buyer or customer is; what their needs are; where they hang out; and when and why they’re likely to buy from you? How satisfied will your buyer be as a customer; how long will they remain a customer and how profitable will you be as a business? These are key questions that your marketing strategy should consider.

The Chartered Institute of Marketing says “Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” A marketing strategy therefore defines your overall business’ game plan for reaching your ideal buyer, and turning them in profitable customers who buy your products or services.

What’s your unique selling proposition?

What are your principles?  What’s your vision?  What are your businesses 3 main challenges? What are your 3 main goals? So, how about starting with an agreed marketing strategy? Taking your competition into consideration, your strategy would define the strengths and opportunities of your business offering matched to the solutions that your ideal customers are looking for.

The plan would need to consider which ‘P’s of the modern marketing mix will define your unique selling (or value) proposition (USP).  Some ‘P’s to really get you thinking are:  principles, people, product (or service), price, positioning, place, promotion, physical evidence, partnerships, process, performance, profitability.

Your strategy would then detail plans and tactics for targeted online and offline marketing campaigns to generate more enquiries or sales for your business. With some help on board, a results focused and hands-on approach to marketing would then help you:

– Win more profitable new business
– Sell more to your existing customers
– Improve customer retention.
– Create and develop sales collateral
– Keep ahead of your competitors.

For some examples of campaigns  view the Create Sales portfolio.

How much should I spend on marketing?

How Much Spend Marketing | Create Sales

These are some interesting questions that we’ve been asked about our services  and marketing in general:

  • How much should I spend on marketing?
  • Can you guarantee marketing results?
  • How long does it take to see results?

 

In answer to the first question about how much you should ideally be spending on marketing, we answered:

“What you choose to spend on marketing will depend entirely on your own business and circumstances.  Generally, companies spend around 5 percent of their total revenue on marketing just to maintain their current position or around 10 percent to focus on growing the business. Companies in highly competitive fields generally spend more.”

To find out answers to the second and third questions as well as more answers to frequently asked questions about marketing click here.

Reference:
8 Top Findings in Gartner CMO Spend Survey 2018-19
Gartner CMO Spend Results 2018-2019