Many busy small to medium business owners get so caught up in tactical daily marketing execution like building a website, sending email, tweeting, advertising, optimizing a landing page, blogging and so on, that they are not taking the time to work on the decisions that’ll improve the performance of their tactics.
At Rocktail Marketing we take marketing strategy very seriously. Why? Because strategy is simply the decisions you need to make so your tactics work better.
Your marketing strategy is the foundation for:
- creating awareness
- generating interest
- closing new sales
- continuing customer engagement
5 key questions we ask of all of our clients are:
- What does your target customer look like?
- In which sector does your business operate?
- What is your USP?
- Who are real competitors?
- What are your main differentiators?
Our approach to marketing strategy is about getting businesses to really focus on what they are trying to achieve – and focus on the questions above.
What does your target customer look like?
Do you know what your target customer looks like? Can you articulate it? And are you confident that all your focus is on delivering your product or service to that customer?
If you are spending time and money on marketing but your efforts are not driving enough sales, the problem is almost always that you haven’t narrowed your target market definition enough to be effective.
In which sector does your business operate?
In other words what business are you in? What few words would someone say to describe your business?
The key is not to overcomplicate things. Clearly defining your category helps amplify your marketing and sales efforts.
What is your USP?
Your USP (unique selling point) should not be a list of what you do (the features) rather it should be what your product or service actually delivers ( the benefits) that your target customer really wants.
At Rocktail Marketing we don’t describe everything we do or the myriad of benefits, we keep our focus on, in most cases to three key benefits in everything we do. And the simpler we describe it, the better our marketing works.
Who are real competitors?
Most business owners haven’t specifically defined who their real competition is and don’t focus their messages to create clear differentiation for their buyers. This frustrates the buying decision process and makes your marketing efforts weaker.
Try and be clear who your main competitors are and make sure you know everything about them. In reality your real competitors should be narrowed down to two or three companies.
What are your main differentiators?
Once you have defined your competition, make a list of all the things you do differently,and better. Then rank each of them by how important these factors are to your target customer. Pick the top one or two and put them on your homepage and include them in your elevator pitch.
Again keep things simple here – highlight just a couple of points to help the buyer in their decision making.