Marketing is a strategy and hence, there is no marketing plan that is entirely fool-proof. To effectively convert your customers and make your marketing efforts a success there are a few important qualities which should be met. A marketing plan serves as a framework which should be followed in order to transform your efforts into a return on investment (ROI).
The following are five qualities proven to be most helpful in a marketing strategy:
1. Focus Your Attention on the Product
Product focus isn’t simple as it is always focused on the market. The product differs in demand and this may depend on the age, trend and gender of your market.
In cases where the items are about clothing, women in their 50s will choose formal and semi-formal clothes, whilst the younger generations might have another focus on these products. In the case that you also offer shoes, you could pair the shoes with a matched outfit or other accessories, therefore, your marketing efforts double and will be more efficient.
2. Concentrate on the Market
The market focus has to be defined and it’s impossible for one to please everybody, when you try to do so, you will have to face extreme pressure and will finally result to loss. You should concentrate on the market starting with the basics: decide first if your focus is with female or male (or both) and with no fail considering the age factor.
Through considering the market, you will be able to see the likes and interests of your target consumers. Some other factors that should be considered are your audiences’ purchasing power. When you find that there’s a different taste, you have to set the goals accordingly through choosing, dividing and conquering the market.
3. Have Some Measurable Information
Anything that is to be promoted and marketed must be quantifiable and should be preferably in the numbers. All of the details should be included, both the major and minor, considering detailed information is an important role when it comes to marketing.
A strategy is a must for a good marketing plan so that you can see and feel success. When your business is starting up it is good to have long and short marketing plans. These two could be interconnected but make sure that the objectives are attainable.
4. Responsibility and Accountability
A marketing plan may fail to work in groups compared to individually. It will be best for every individual to get a much specific task as well as to bring positive results. You also need to pay attention to the accountability of a person, that can help a lot in keeping an eye on the way they handle his or her responsibilities. A perfect plan is something that needs absolute involvement and commitment to. Every person has to know his or her job very well and must be aware of the desired outcome.
A marketing strategy is a preparation and a good marketing plan is something that handles everything. On the other hand, frequent reviewing as well as revision is always important here. Don’t wait till the last day, keep reviewing your plan on a regular basis and rectify the plans when needed.
When was the last time you looked at your marketing strategy? Does it still hold true? What changes in the market have the greatest affect on your strategy and plan? Leave a comment and share about your industry and marketing changes you’ve seen in the past.