No Brand Strategy? No Growth
Updated: Aug 4, 2022
I’ve talked before about the importance of having a marketing plan, but, as the White Stripes say, it bears repeating. As I am working on growing Egg Marketing I realized I had a marketing action steps, but no real brand strategy. Shame on me! What’s the difference?
Action steps are just that: the actions you will take. For instance, “post on Twitter 3x a week” is an action step.
Marketing strategy is harder. It looks at who your customers are and how to reach them. It’s bigger picture.
Establish Your Target Market
It seems like it would be easy enough to figure out who your target market is. For me, it wasn’t. I falsely assumed I should be targeting work-at-home moms, simply because I am one and feel a connection with them. But the more I dug into who my current customers are, I realized the WAHM didn’t fit my customer profile at all. It’s important to assess who your current clients are and determine whether you want more of the same or some other demographic. If, for instance, you have a lot of single-serving customers and you want more repeat business, you might need to shift your marketing to a different target.
Delivering the Marketing Message
With so many choices out there in marketing, it can be overwhelming. Should you use traditional offline tactics? Only online? Is mobile worth exploring? The first question you should ask yourself is, “how does my target market like to receive their messages?” If your target market is senior citizens, resist the urge to do everything online just because you can appreciate the medium. It will be a waste of time since this demographic doesn’t use online as much as other demographics. While the scattershot is a tempting technique (using a wide range of media to get your message out), it is usually expensive and not as effective as carefully planned delivery. Spend time analyzing how your ideal customer can be reached. It will be more cost-effective and efficient at reaching new customers in the long run.
Consider the Long-Term Brand Strategy
The thing about brand strategy is that it’s not just about today, right now. It’s about down the road, too. Dream big: where do you want to be in one, five, 10 years with your company? What strategic direction do you need to take to get there? Then fill in that strategy with those action steps.