In developing a business, one of the things that is mandatory and not overlooked is planning. Planning can be analogous to a map to show the direction to a success. Another thing that is not less important is establishing a marketing strategy. Marketing occupies a strategic position to achieve success in a business.
Even though a product has good quality, it will not be able to generate multiple profits if it is not accompanied by a precise marketing strategy. Without a good marketing strategy, it is quite difficult to develop a business. Then how to achieve success with the right business strategy ?
What is a marketing strategy ?
Marketing strategy is an effort to market and introduce a product or service to the wider community. Of course by using careful planning and tactics, that way, the number of sales can increase. Marketing strategy can also be interpreted as a series of efforts made by the company in achieving its goals.
In a business, there are three factors that determine the selling price of goods and services which include production, marketing, and consumption. Thus, marketing can be regarded as a liaison between producers and consumers.
Functions of marketing strategy
- Set the direction of the business. Of course, this will help the marketing team coordinate more effectively so that it will be easier to reach the target.
- Increase motivation to see the future of the business that is being run. Marketing strategy requires business people to estimate the pace of business in the future so that it indirectly gives enthusiasm to run it.
- As an assessment standard of the work performance of members in the company. With this assessment standard, of course quality control and work quality will be effective.
- As a tool to achieve the targets or goals of a company, both in the short and long term.
Objectives of marketing strategy
- Can be used as a measuring medium for marketing results which are measured based on predetermined achievement standards.
- Help improve the quality of coordination between individuals in the marketing team
- Develop business skills to be easily adaptable.
- Rationale for making marketing decisions.
- Able to reach the target easily.
Tips for Marketing Strategy
1. Doing Branding Well
One important element in a marketing strategy is to do branding or imaging. Branding itself is a process that determines whether consumers accept the company’s products.
Every company must brand its products. So, consumers will be loyal and loyal to use the product. Some efforts to brand the company include making logos, images, and also determining superior products, that way, the products and companies will be better known by the public.
2. Always Consistent and Planning
In this element, consistency is needed. This is so that marketing costs can be efficient. Careful marketing planning also needs to be done so that many customers are attracted and come. Before marketing a product, you can plan an effective marketing strategy. Starting from the marketing budget, to other concepts so that the business can be easy to grow.
3. Targeting the Target Market
You also need to define precisely the market share you are targeting. The most appropriate way is to choose several market segments that you will enter. The goal is to make the target market clearer. This will make it easier to conceptualize marketing.
4. Determining Marketing Mix
Marketing mix is the price, product, and also the place of promotion. As an entrepreneur, products and services must be decided specifically. And it must also be determined where and how you can distribute the product. In addition, how to get other people to know the products offered is also part of the marketing mix.
5. Customer Relationship Management
In order for your customers to remain consistent and loyal, good relationship management with customers is needed. That way, the customer will not run to another company. For that, you need to make good relationship management with customers. Starting from a special member card for customers and giving discounts for members.
6. Promotions and Ads
Promotions and advertisements to add brand awareness to the products you sell. You can also use paid media so that visits to social media can increase. For example by using Facebook Ads, Google ads, Instagram Ads, Twitter Ads, and many more. With this strategy, you will be helped to increase conversions and the number of product sales prospects.
Marketing planning for the company needs to be made as good as possible. Because marketing is one of the important pillars in doing business. You can train the team to make good plans or use the services of a consultant. If the company does not run it well, it will be difficult to move in the direction of market changes. As a result, the benefits obtained are not maximized. Hopefully this information is useful for you.