A strong marketing strategy starts with clarity about the people you exist to serve. 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.