Drafting a marketing strategy

By Lee Rossini

Before drafting a marketing strategy, it is essential to think about what it is you are trying to achieve and only then putting a strategy and operational plan in place. Without thorough preparation before implementation, the marketing strategy is unlikely to meet its stated objectives.

Step 1:  Decide on a target audience

There is no point embarking on a marketing strategy if you do not specifically target it at the right audience. Who exactly would you like your marketing to reach? Is it your existing client base, or a specific segment within your existing client base or a new niche market altogether? Have you done enough research into your target audience? Do you understand their needs, concerns, goals and life circumstances? What are the issues faced by your target audience that your business can provide solutions to?

Step 2:  Decide on outcomes or objectives

Without stated outcomes or objectives, your marketing strategy has no direction. Clearly state what the desired outcomes or objectives of the strategy are and what you want it to achieve.  

Step 3:  Decide on the marketing tools

The choice of marketing tools will be influenced by what method will most appeal to your target audience and what outcomes you hope to achieve. Possible marketing tools include social media, presentations, blogs, newsletters or workshops, amongst others. By way of example, if your target audience is post-retirement, running small interactive workshops or doing presentations are more effective methods of reaching your audience than using social media.  The method chosen will also depend on the resources available, do you or one of your employees have the time available and the necessary skills and knowledge to present or to write?  If not, you may have to outsource the writing or pay a person to speak at a function, this adds to the costs of your marketing strategy.

Step 4:  Draw up a budget

Draw up a realistic budget that includes the costs that will be incurred in giving effect to your marketing strategy.  The budget will determine which marketing tools you ultimately decide to use.

Step 5:  Draft a plan of action

The plan should include the activities involved, the people responsible at each stage of the plan and the dates by which the activities should be completed. It is also useful to assign approximate costs to each activity.  Make sure that every person involved understands their role and has bought into the overall strategy.

Step 6:  Implement the strategy

After the planning of the strategy is complete, it is time to implement. Pay attention to the detail and watch out for problem areas at every step of the implementation. If necessary, the plan may need to be adapted to ensure the strategy is successful.

Step 7:  Measure results

After implementation, some form of measurement is needed to make sure the outcomes or objectives of the strategy have been achieved. Measurements may include the number of target audience reached, number of satisfied clients or number of new clients, etc. Carrying out this step at the end of the implementation will enable you to determine whether the outcomes or objectives of the marketing strategy were successfully achieved.

Before finalizing a marketing strategy, ask the following questions:

• Will the strategy demonstrate the professionalism and competency of my business?
• Will the strategy achieve the intended outcomes and objectives?
• Will the return on investment be worthwhile?
• Does the strategy align with the overall business vision?
• Will the strategy attract the type of client who fits your ideal client profile?
• Does the business have the capacity to follow through on the strategy? If an outcome is to take on new clients, is the business in a position to offer the services that have been promised?

When planned and executed properly, a marketing strategy can be very effective. On the other hand, a poorly executed strategy can cost the business in terms of poor outcomes and a waste of resources and time.  For these reasons, it is worth following a process to increase the likelihood of a successful marketing strategy.