Top reasons companies might not be getting the most from their marketing strategy.
- Partial or no marketing strategy.
- Strategy planned to broadly or to detailed to be properly managed.
- Lack of understanding of the competitive landscape.
- No process or budget allocated for marketing testing and optimization.
- Unworkable or poorly estimated timetables for success and growth.
- Too much focus on SEO, not enough mixed marketing tactics.
- Poor quality or lack of accurate and actionable data.
- Not sticking to any strategy or constantly changing direction.
What would it be like to confidently set your business on the right course?
One of the most important things for a business is a strategic direction. This is especially true when it comes to marketing. It is critical not only for business managers to come up with a plan of action, but to also stick to that plan and give it a chance for success.
Building an effective marketing strategy is not just about line items on a budget or media plan. A winning strategy includes outlined processes, contingency plans, budgets, campaigns that setup for success, proper allocation of resources, and definitions of what success means.
Depending on your unique needs, we may recommend some of these initiatives.
Advertising Testing and Optimization Strategy: Having a strategy in place for your advertising is critical to creating profitable and winning campaigns. We can help build and execute an effective advertising strategy which starts with your budget and backs into your business goals. Overtime, using a variety of data-driven optimization tactics we can turn campaigns into profitable winners.
Competitive Analysis: We’ll take a hard look at the competitive landscape in which your business operates. We will evaluate competitor websites, keywords, advertising campaigns, social media, and more to understand how your business can better position and compete within the space.
Target Audience Research and Segmentation: It is important to fully understand who your target audience is and what distinguishing characteristics helps to set them apart. We’ll look to define target audience groups and segment them based on a variety of criteria. This will make it easier to deliver the right marketing messages to the right audiences and understand how to best serve them.
Marketing Budget and Media Plan: We can help you outline an effective marketing budget and media plan for your marketing strategy. We typically start with a budget and work backwards from your goals in planning which advertising activities to include, when to run them, and how much to allocate to each.
Promotional Strategy: Having a promotional strategy is important to better describe how your business will systematically reach your target audience. Without an effective plan, it will be difficult to allocate the correct amount of budget and resources, allow for enough testing and optimization, understand which tactics to focus on, and know what success will look like.
Positioning Strategy: Positioning your business, product, or service within the competitive landscape is critically important to helping your target audience understand why they should choose you over the competition. Positioning is about conveying a variety of attributes to your audience through your marketing messaging including value, quality, service, price, and more.
Customer Lifetime Value Analysis: Understanding the lifetime value of an average customer can be a very powerful thing especially for subscription type businesses. Understanding customer lifetime revenue can drastically change how your approach your advertising strategy. We can help you to calculate and understand important metrics like Lifetime Duration, Lifetime Revenue, Churn Rate, and more.
Defining Key Performance Indicators of Success: If you don’t have a definition of success, how will you ever know if you have achieved it? It is important to define targets and measures for success that are reachable. We can help you determine which metrics should be of most benefit to you and how to set their target values for indicators of success.
Analytics and Reporting Strategy: Every marketing or advertising strategy needs to have a system for collecting, analyzing, and reporting on performance results. Without complete, accurate, and trustworthy reporting, it will be near impossible to make optimizations and create winning campaigns. Learn more about marketing analytics and reporting services from Advertology.