Marketing Strategy for Business Growth
Marketing can be very successful in driving business growth, but if you don’t have a strategy in place, now is the time to develop one. A marketing strategy will help you to recognise your target audience and how to reach them, as well as identifying any obstacles or opportunities that might affect your business along the way.
What Your Marketing Strategy Might Involve
Whatever your business goals, there are some elements all business will need to consider to ensure marketing is effective. Here are a few pointers to get you started:
This ensures everyone in the business knows what you are working towards. The plan should include your goals, the strategies and processes needed to enable you to reach these objectives and what budget you intend to set aside.
This allows you to analyse and better understand the strengths and weaknesses within your business, as well as the external factors that could present opportunities or challenges to your business offering.
By looking at what’s going on in the wider market place in terms of Political, Economical, Social, Technological, Legal and Environmental factors your business will be better positioned to deal with change and to design a marketing plan that is as future-proofed as anything can be in business.
The 4 P’s
Product, Place, Price, Promotion – by defining what you offer, where and at what price you can discover ways to generate and encourage more sales by delivering special offers that are targeted and competitive.
Knowing what your competitors are offering, at what price and who they are targeting as their ideal audience will help you to identify your spot in the marketplace and get a better understanding of your own USPs.
GetSet For Growth
GetSet for Growth is a resource for growing businesses. Their commercial marketing experts provide practical input and guidance, helping you to develop a marketing strategy focused on generating more sales, from more customers. They also offer workshops and events across the West Midlands which are open to all local businesses.
Need more information?
If you’re ready to tackle your marketing strategy speak to the Worcestershire Business Central team for advice.