The fundamentals of business & marketing ring true. When preparing your marketing strategy, look at your current situation. This involves asking yourself deep question such as:
- Is my current marketing strategy producing me the results I want?
- In the last 365 days, what progress have we made in marketing our products?
- Where we on course for completing our marketing objectives set in place?
These fundamental questions allow us to gather a snapshot of where we have been. The goal, is to push the limits, see how far we can go, and see what we can accomplish.
Understanding the objective, mission, and goals of where we want to go with our marketing strategy is critical. In order to go forward we need a destination. Each marketing plan is developed around what we believe is best for our company now, and will be sustainable, and exhibit growth in the future.
Identify Your Target Audience
First, before we identify our target audience, we need to understand our current audience. Once we segment our current audience and understand how each plays an important role we can dive deeper, and develop a better sense of our target audience.
Breaking down our target audience into male & female should be the starting point. Then, break the data down further into different audience segments based upon age. We will also be looking at kids & no kids which will be a variable tagged alongside that we use to develop a deeper understanding of our targeted audience.
Ranking Your Audience
Which group has interacted with our brand the most. On a scale of 1-10 based upon the data you're looking at, across multiple marketing channels which groups have interacted the most. On a different scale with the "$" as the symbol, determine which groups have produced your the most in revenue.
The reason we are doing this is to see if first, our interaction results in profit, and second to see which audience is the most profitable. Depending on your marketing strategy, and if you are trying to gain market share. There are questions to be asked.
Is our audience interacted with us but not buying? Who are they buying from? Why are them buying from them and not us? Where is the disconnect?
Utilizing The Research
You are about to invest money into a marketing campaign. The best outcome is one in which are dollars are utilized to the maximum capabilities based upon our objectives, and backed by our KPI's.
What we are trying to do is determine which audience to go after. We also want to deliver different ads based upon our groups experience in life. For instance, the older demographic are use to delayed gratification while the younger demographic is use to instant gratification. Small changes in the behavior patterns have an effect/cause on our marketing strategies effectiveness.
Focus On Your Audience
The lifeline of a business is dependent upon it's customers. Where you attention and focus lies, grows.
Nurture Your Audience
Like a garden, you need to maintain, take care of, and grow your audience.
Continue to grow your audience.
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