You’ve got a brilliant idea for a new business. You’ve thought of everything – products and services, website design, you’ve even got your logo done. But now you’ve got to start generating revenue and that means getting customers. So, do you just start throwing your hard-saved money at the first advertising ploy you see? Of course not. Developing a successful marketing campaign is not all that different from developing your business model.
Define Your Goal
Are you trying to generate online sales? Do you have a physical storefront to which you want to generate foot traffic? These are questions you’ll want to answer as you begin the process of developing your strategy. Perhaps it’s both, and if that’s the case, decide which should be a bigger source of revenue and increase your marketing efforts there. How will you differentiate yourself from your competitors? This is always the time to decide on a marketing budget so that when it comes time to choose your tactics, you can make more informed decisions.
Define Your Target
This may seem like a simple task based on your products and services, but you’ll want to ask yourself if you intend to stay within a generalized demographic or attempt to branch out to increase sales. That being said, it’s important to remember that identifying your target does not mean you are disregarding the rest. There are always ways to include other audiences in your marketing plan, but once you really understand your target, it’s much easier to decide on which platforms you can utilize to reach them. Try to be a specific as possible with your larger demographics; over-generalizing tends to leave the door so far open that your advertising efforts won’t be as easily noticed.
Define Your Tactics
This is where you decide the avenues in which you will extend your marketing efforts. There are plenty to choose from, so once you’ve determined your goals and your target audience, you should easily be able to combine them with certain marketing methods. Will you use media advertisements, internet marketing, a mobile app, social media platforms, or an all-inclusive advertising agency? Whatever the case, be sure that it fits in line with your goals, your budget and your key demographic.
Some Additional Tips
Marketing campaigns should be maintained quarterly. That being said, don’t be afraid to revisit it as needed, particularly if a new product or service is introduced.
Get some feedback from an outside source. As is the case with many things in life, a fresh pair of eyes can often see things we may miss.
Be aware of your competition in all of the above steps. As the old saying goes, “keep your friends close, and your enemies closer.” Not that your competition has to be your enemy, but you get the idea!