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6 Simplified Steps to Build a Marketing Strategy for A Successful Business

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Have You Drawn Up A Clear Marketing Plan And Already Built A Business On It?

So you will not succeed in your direction! First, you need to work on a marketing strategy, and you were deeply mistaken if you thought this concept was a synonym for a marketing plan.

Many Internet entrepreneurs make a huge mistake even at the stage of building their business, not understanding the differences between a plan and a strategy. A marketing plan is a necessary tool, but you can use it only after a clear study of the strategy from top inbound marketing books.

What Is The Difference Between A Plan And A Strategy, And Where To Start Work?

A marketing plan is a list of ways to achieve a specific goal, that is, it answers the question “How to do something? Marketing strategies are directly proportional to the audience’s interests it helps set goals and objectives themselves. First, we need to find the question “What needs to be done, and only then “HOW?”

To form a truly successful and profitable business, there is a clear formula that includes both the plan and the strategy. Performing all the actions, in turn, you will surely come to the desired goal. The formula is as follows:

Beginning entrepreneurs refuse to create a marketing strategy, mistakenly assuming that this process will take too much time. I assure you that the whole procedure for its formation, one way or another, comes down to 6 elementary steps.

Of course, each of them takes a certain time, but now you have a clear, consistent guide, thanks to which the task does not seem so difficult.

So…

Step 1. Analysis Of The Market And The Selected Niche

The first step is to determine how profitable your chosen direction is. To do this, we analyze the demand for a product/service/product. The task is quite simple if you know what tools you need to apply in the process.

For example, to assess the state of the current market, I recommend using the following services:

A tool to determine how many people are looking for the product/service/product you are offering. A query is entered in the field that your target audience uses to search. Similar requests and their numbers are shown in the left column, additional phrases on the topic in the right column.

The tool provides the user with a lot of additional features. If you are engaged in the sale of physical goods, the provision of local services, the organization of events or simply somehow tied to a specific region, you can determine the number of requests in the country/region/city that interests you.

A similar service from Google. For a complete analysis of the market and niche, be sure to use both tools.

What to pay more attention to? It depends on your geography. Indeed, for example, Google is more actively used all around the world, while Google in Ukraine. But to complete the picture, I still recommend paying attention to both services.

Step 2. Determining The Target Audience And Market Segmentation

“Who is my client? And to whom you’re targeting?  will help to understand the question of segmentation. How to determine your target audience? My article will help you with this. How to Determine the Target Audience for Your Proposals? There is also a useful video on this topic on our YouTube channel. Use expert tips to speed up the process of determining the target audience:

Step 3. Analysis of Competitors And Assessment Of Your Competitiveness

Having identified the strengths and weaknesses of your competitors at the stage of strategy formation, you can successfully break into the market. While rivals are looking for ways to improve their business, you have already taken into account their mistakes and avoided them. I also use some simple supporting tools to analyze my competitors.  Among them:

Similar Web:

The service will allow you to identify the “main players” in the market according to your subject. Here you can get information about the attendance of a particular resource, find out where the traffic comes from, and so on.

Buzzsumo:

A very useful tool if you use a blog in your business. The service allows you to determine the most popular entries on competitors’ websites.

If you do not want to use the same content on your resource, which, in principle, is correct, there is another method for using the service:

  • Use the previous tools to find popular foreign ones by your subject.
  • Use Buzzsumo to spot popular posts on them.

Select cool materials on related topics and based on them create your own, even more valuable and powerful.

All the proposed services are English-speaking, but intuitive even for users who do not speak the language.

Step 4. Setting Short-term And Long-term Goals

Each entrepreneur has before himself one big goal to which the business leads. Of course, already in the first stages, you need to understand how to achieve a certain result. Long-term goals cannot be met unless you use short-term goals. Marketing strategy involves setting small goals, which gradually lead to one global.

Read this article carefully to learn how to set the right goals for yourself.

Step 5.

One of the most important stages in building a marketing strategy. The success of your business directly depends on how you position yourself in the market. You can learn how to position yourself in order to succeed, and how to bring your brand to the highest level, in this article.

Step 6. Evaluation and planning of the financial component of the company

At this stage, you should carefully consider the budget of your company, allocate expenses, and analyze income. Of course, the numbers will be approximate, but this will give you a clear picture of your business potential. Like the entire marketing strategy, this item answers the question “What?”, But here it sounds like: “What needs to be done and how much to spend to get a certain amount?”

Conclusion

Regardless of the niche and direction, each business has its own marketing strategies. This allows the entrepreneur to understand exactly what needs to be done in order to achieve a particular result. And is it necessary to say that a business with a marketing strategy brings revenue to the owner with a few additional zeros?

Start implementing the 6 simple steps that I talked about today. Use the suggested tools to create a more accurate strategy. And then the result will not take long in coming. Act!

 

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