Three,Keys,Creating,Your,Marke marketing Three Keys to Creating Your Marketing Strategy
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There is a lot of noise out there about 'Marketing Success' and'Marketing Strategies'. It can be overwhelming. Fact is, much of it isvery good but it can get watered down and cause you to chase the hotnew trend or tactic that has all the buzz. Instead of getting caught upin all the hype, you should consider the fundamentals of basic habitsthat have proven to lead to marketing success. They aren't sexy butyou've heard them again and again. So make them a habit and keep themtop of mind when you are creating your marketing strategy.1. Specialize Your OfferingYou'veprobably had this drummed into your head if you read much on marketing.Many refer to it as 'finding your niche'. That can be difficult if youfeel like you have a lot to offer a variety of consumers or businesses.However, if you don't have a focus you will try to be all things to allpeople and struggle to find your way.When thinking aboutspecialization, consider two main areas. First, you could create aniche around a specific set of products or services. An example mightbe Jiffy Lube. They focus on providing convenient and basicpreventative maintenance for most cars and trucks. You don't need anappointment and the customer realizes they can usually get in and outquickly. Their services niche is primarily limited to preventativemaintenance. Broad market, niche services.The second area ofspecialization would be a niche around customers or markets. Keepingwith the automotive example, there might be a Honda auto shop in yourcity. They would have chosen to go much wider with their serviceofferings but they focus specifically on customers who drive Hondaautomobiles. Honda owners would be attracted to this business becauseof their expertise in only working with Hondas. Their 'niche' is Hondaowners. Broad services, niche market.2. Differentiate From the CompetitionThiskey can be the most difficult and it's also perhaps the most important.How do you differentiate yourself from your competitors? There are alot of terms out there for this key: unique selling proposition, clearcompetitive advantage, area of excellence...call it what you want butyou need to define it.Ask yourself the simple question of "Whywould a prospect buy from me rather than my competitor?" Make a list.Does it reflect the business you want to be in? Some factors are fastdelivery, high quality, low price, convenience, or a combination of anyof those factors.You need to be able to articulate your uniqueselling proposition and position as the single thing that you want tobe known for. What can your customers count on you for? If you areFedEx, you promise your customers that you'll deliver their packageswhen they "absolutely, positively have to be there overnight". Your keydifferentiator can become the heart of your marketing and advertisingcampaigns.3. Segment Your CustomersBusinessgrowth generally comes from a pretty simple formula: get morecustomers, sell more to existing customers, and/or get your customersto buy more frequently. You can choose where you want to focus but youneed to segment your customer list so that you can messageappropriately to each target segment.Your best opportunity forsales is usually with active customers. Keep them engaged and ask themto create the next most important segment: referrals. After referrals,lapsed customers are typically a very valuable group to target.Manysmall businesses focus too much of their marketing efforts on prospectsrather than getting existing customers to buy again and buy morefrequently. Segment your prospect and customer lists so that you canmore effectively market to them with relevant messaging. When youconcentrate your efforts in these three areas, you'll achieve greatersuccess in a shorter amount of time. Continually ask yourself questionsrelating to these keys questions:What am I specializing in?How do I differentiate from the choices my prospective customers have?What customer segments will yield the best results for me if I concentrate my efforts?Is my business aligned and organized to capitalize on our specialization, differentiation, and segmentation?Answeringthese questions will create a sound foundation for your marketingstrategy. Keep it simple and keep coming back to these questions as youdevelop your marketing strategy. Article Tags: Marketing Strategy
Three,Keys,Creating,Your,Marke