Why it is important to have a marketing strategy

Marketing Strategy Consultants like www.reallyhelpfulmarketing.co.uk/specialist-services/marketing-strategy-consultant/ understand the importance of marketing strategies for businesses and there are a lot of reasons why they should be put in place. When a strategy is devised it can help the business and all relevant employees and stakeholders understand what targets are being set and how the business intends on going about achieving them.

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There are a number of elements that you might include in a marketing strategy and these are:

• The overall vision of the company
• Company objectives and goals
• Target audience and buyer personas
• Where the business is positioned in the marketplace
• Marketing activity channels
• Project plan timeline

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There are lots of reasons that it is important to have a strategy for your marketing in place and these can include:

Making the most of your money – when you refine your target market and you get to know your ideal customer or customers you can start to assess the best marketing channels for these people. Once you know who your customers are and where they hang out, you can make the most of the marketing budget that you have available. It will also allow you to refine your marketing message so you are speaking to your customer avatars. Continue reading how does a recession affect marketing.

Monitoring – it is important that before you embark on any marketing activities that you set some goals that you can monitor. This could be monitoring sales conversions so you can see which channels and marketing activities have the most impact. Make sure that you regularly check your marketing performance against these goals and tweak your marketing activities accordingly.

Team working – when you have a clear marketing strategy in place you are able to give clear targets to the relevant teams when it comes to creating marketing collateral. It then allows you to monitor the teams working against these. It also allows you to communicate your marketing and sales goals across the different departments of your business.

Product/service expansion –  before you increase your products or services you can use your marketing to see whether there is a call for the items that you plan on introducing. This then allows you to make an informed decision before you enter into the production phase.