THE IMPORTANCE OF DEVELOPING A MARKETING STRATEGY
- Digital Marketing, Email Marketing, SEO, Social Media

THE IMPORTANCE OF DEVELOPING A MARKETING STRATEGY

The marketing strategy contributes to shaping a marketing plan that meets customer needs and meets the company’s objectives. After conducting marketing research, effective coordination will be pursued to concentrate resources on the best possible opportunities. It aims to increase sales, develop goods and services with the greatest potential to provide value to customers and make a profit, respectively setting the right price for its goods and services.

Through a marketing strategy, a digital marketing agency makes optimal use of resources. It helps set the marketing budget in advance and develops a method that falls within the plan’s scope and determines the revenue generated by the extended plan. In the initial stage, the development of a digital marketing strategy may provide for a “push” (push) promotion policy, based mainly on personal sales. And sales promotion, or “pull” type, based on advertising and advertising. Henry Ford emphasizes the importance of trade advertising: “If all my money were $20, I’d buy pencils for $2, and I’d advertise them for $18.”

To develop the marketing strategy, it is crucial to outline the steps that follow the strategic directions. The steps can also be considered concerning the marketing mix elements (product, price, promotion, placement, staff, and processes). The marketing mix elements can be sources of competitive advantage and are linked like in a puzzle. However, they are all inter conditioned: in vain, you invest in a good promotion if the price is not strategically chosen, as well as when the placement is poor, and the company’s products are difficult to access for the customer, a reasonable price and promotion fail to compensate.

The four traditional marketing mix components are the 4 ” P “: the product, the price, promotion, distribution/placement.

The elements of the product strategy include aspects related to – color, taste, size, shape, ingredients, packaging, brand name, quality, guarantees (standards), portfolio, after-sales services, and specifications on availability, use, etc. To influence the purchase decision, in the product description, the emphasis will be on relating the product’s benefits to the buyer’s needs, using as support the features and advantages of the product. For example, the benefits of buying a diamond ring can be those related to an image of success, an investment, or the satisfaction of a loved one. In step 1 of developing a marketing strategy in the form of a Canvas, these aspects are also highlighted in the following article, a picture.

To better communicate with customers, it helps to use the five senses to present the product and services. It increases understanding, receiving information and will help penetrate barriers of perception.

Price

These elements aim to position comparable products, catalog price, discounts, sales deadlines and payment periods, distribution network margins, and value-added aspects for users.

Promotion

It includes offline and online promotion: marketing communication, public relations and brand advertising, direct marketing, distribution/placement, personal promotion (sales, demonstrations, design, etc.), and sales promotion (short-term tactics- contests, raffles, etc.)

The methods and techniques of promotion in the offline environment are oriented according to the target audience and the field of activity. These may include the use of presentation materials, promotional materials, public relations, promotions or networking, opening a physical store, personal advertising (sales, demonstrations, design, etc.), and sales promotion (short-term tactics – contests, raffles, etc.). .)

Online promotion methods and techniques

These methods and techniques are an opportunity for any company to understand and make the most of its marketing activity. Marketing objectives, the type of interaction with the potential customer, and the allocated resources classify online promotion methods into two categories: free promotion methods and paid promotion methods. These are not categories that are excluded but interdependent configurations of the promotional activity, in the combination that best meets the company’s development needs. Content marketing (an essential component in digital marketing) brings notions and concepts such as SEO, SMM, SEM, email marketing, Google Analytics, Google AdWords, Instagram Ads, Facebook Ads, affiliate marketing, or remarketing.

SEO

Search engine optimization is the promotion of the website on Google. There are two types of SEO: on-page (on-page optimization) and off-page (off-page). Buying SEO services in Pakistan for your product or business website is very beneficial because after that, your website will rank on top in search engines, and you will get more traffic.

Search Engine Marketing (SEM)

SEM aims at search engine marketing and refers to the process of increasing the traffic of your website through paid online advertising. Buying advertising will help your pages appear in the top positions in searches.

SMM – Social Media Marketing

The presence on social media platforms and the inclusion of links to them help make the business easier to find online. The goal of SMM is to generate quality traffic to the website and blog to generate conversion and profit ultimately. The leading platforms are Facebook, YouTube, TikTok, Linked In, Twitter, Google+, Instagram, and Snapchat. Creating a request for a product can also be done through Facebook Ads and promotion on all the platforms as mentioned above.

The results of the online promotion approach help to be monitored through tools such as Facebook Page Insights, traffic reports, Google Analytics, and other tools available online.

Placement/Distribution

The placement and distribution cover marketing channels, distribution infrastructure, distribution costs, preferences, and market dynamics.

More recent approaches to the marketing mix add two more new elements: staff (human resources, representing the company’s interface for customers and employees) and the company’s internal and external processes. Personnel issues consist of staff relationship with customers, staff impact on marketing, staff recruitment, organizational culture, employees’ ability to attend training courses, remuneration, and motivation (functional, economic, and psychological benefits).

The strategic directions related to processes aim at strategic planning. All functions are managed to satisfy customers, distribution logistics, documentation processing, information and product technology, business process re-engineering, and research and development.

Presence and visibility in the online environment among international business networks (Chambers of Commerce, business networks) are sources of social capital that provide access to databases with potential customers, organizations, and business portals.

THE IMPORTANCE OF DEVELOPING A MARKETING STRATEGY

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