Learn how a marketing strategy can help businesses achieve their goals through strategic thinking, planning, market research, and communications. Discover modern marketing strategies such as content, search engine optimization (SEO), social media, email marketing, and pay-per-click (PPC) advertising.
Understand the importance of video in modern communication and how it can be used to promote products or services. Explore the power of branding on consumer behavior and decision-making processes. Gain valuable insights into successful marketing tactics that can help businesses grow and thrive in today’s competitive marketplace.
It’s important to note that marketing strategies may vary depending on the industry, target audience, budget, and specific business goals. Effective marketing strategies are often a combination of multiple approaches tailored to the unique needs of the business and its target market.
The Importance of a Marketing Strategy
- A marketing strategy is important for any successful business.
- It outlines goals, objectives, and how to achieve them.
- Components include strategic thinking, planning, market research, and communications plans.
- The strategy gives direction and purpose.
- Home renovation can be used as an analogy for the process of creating a marketing strategy.
- Strategic thinking involves answering “why” questions about the product or service being offered.
- Strategic planning involves answering “how” questions about getting the product or service to customers.
- Marketing research helps identify target customers and competitors’ strengths/weaknesses
- The final step is developing a marketing and communications plan that includes goals, customer profiles, pricing strategies, promotions, and communication mediums
- Working with a full-service agency like Thinker can help businesses develop a strong brand message throughout their entire marketing journey
5 Explosive Digital Marketing Strategies for 2023
- Marketing strategies in 2023 will be different from the past.
- Modern marketing falls into five categories: content, search engine, social media, email, and pay-per-click (PPC).
- Short-form vertical video is the most powerful strategy for content marketing on platforms like TikTok, Instagram Reels, and YouTube Shorts.
- Committing to at least one video per day can help grow your following on these platforms.
- Google’s helpful content update focuses on creating complete pages that answer user queries to rank higher in search results.
- User-generated content through influencers is a big opportunity for businesses in 2023 with Tick Tock’s Creator Marketplace making it easy to find suitable influencers within budget.
- Email marketing has a high ROI of 42 times but requires interactive lead magnets such as timed challenges or quizzes to get more opt-ins.
- PPC marketing can achieve omnipresence online by using Google’s new campaign type which allows businesses to be found everywhere online for less than typical ads.
- Going deep in a few key places rather than going shallow and broad can yield better results across all categories of modern marketing strategies
- These strategies are actionable tips that businesses can use right now to take their business from this level to another level of success in 2023
What is a Marketing Strategy?
- A marketing strategy is a comprehensive plan that contains a company’s marketing goals and objectives.
- Marketing professionals and entrepreneurs draw up successful marketing strategies after carrying out market research, studying various aspects of the marketplace, and having the right marketing mix.
- Every marketing executive aims to help their company thrive by boosting sales of products or services.
- A good marketing strategy can help companies better identify their best customers and understand their needs and expectations.
- To broaden your knowledge and widen your available range of strategies you could implement, learn about digital marketing, relationship marketing, product marketing, and word-of-mouth marketing.
- Make sure you read about any new emerging strategies that might help your business grow.
- A company’s business goals determine what its marketing strategy will be; a good strategy must come before the plan itself.
- A road map guides from one point to another in achieving set goals; this is what a Marketing Plan does
- It is important to determine what you want to achieve first before deciding how you will do it (Marketing Strategy comes before Marketing Plan).
- A Marketing Strategy allows an organization to concentrate its limited resources on the greatest opportunities for increasing sales while achieving a sustainable competitive advantage
What Is the Most Effective Marketing Strategy in 2023?
- The speaker wants to share 7 marketing secrets that are more nuanced than typical social media tips.
- Many people think one post or ad will make them go viral, but it’s about the quantity and volume of marketing efforts.
- The “marketing sweet spot” is where businesses need to be to see results, which requires pushing through the minimum effective dose stage.
- Most businesses fall into the minimum effective dose category and need to do more marketing.
- The rule of seven states that customers need around seven touchpoints before making a purchase decision.
- Businesses should show up where their target market is present and active online with valuable content and offers consistently.
- The mere exposure effect means frequency leads to trust, so following up with email marketing frequently is important for building trust with customers.
- There’s no set limit on how many emails a business can send as long as they know their market well enough not to annoy them
- Marketing is like selling one-to-many while sales are one-to-one
- The goal should be at least three emails per week for successful email marketing
What Are the Three Reasons That Marketing Is Important?
- Marketing is the most important element in business success.
- A solid marketing strategy should form the foundation of any campaign, tactic, or idea.
- Businesses neglect marketing due to three myths: it’s too expensive, doesn’t work, or is too complicated.
- Good marketing is an investment that pays back with a powerful return on investment (ROI).
- Many online advertising options are currently 99% cheaper than traditional methods like TV and allow you to reach more people.
- Bad marketing doesn’t work but good marketing connects businesses to customers and answers the question “Does everyone who could buy from you know you exist?”
- Winning marketing campaigns focus on strategy first and tactics second.
- Simple can work if it’s strategic and consistent over time.
- Subscribe to Adam Earhart’s channel for more tips, tricks, and strategies not shared anywhere else
- Marketing is essential for building a wildly profitable fun helpful valued providing business
What is Marketing Strategy? How important is Marketing?
- Video has become an important part of modern marketing and communication.
- Steps can be taken to use video more successfully.
- Peter Craven from Blue Sky Video Marketing is interviewed in the video.
- Blue Sky Video Marketing is a video marketing agency that helps with all elements of video production services, including audience acquisition.
- There is a difference between video production and video marketing, with the latter focusing on crafting the story, producing the video, and making sure it delivers results for businesses.
- Video is not a silver bullet solution to fix all marketing problems but can work well when done right.
- Traditional marketing still has its place alongside video marketing as nothing exists in isolation.
- Access to information through technology has changed how people consume messages and want them delivered authentically through mediums like videos or testimonials rather than just reading reviews or written content alone.
- Small businesses need to include videos as part of their overall marketing strategy due to changing consumer consumption patterns where they choose this medium over others like written content or social media posts alone
- Video consumption patterns are different across various channels so it’s essential to consider what distribution channel will be used before creating any valuable content for consumers who have chosen this medium for communication purposes