In today’s post, I’m going to show you the strategies to fuel the growth of your business in 2023
1. Marketing Mix
The marketing mix, also known as the 4 Ps of marketing, is the preliminary document you must create to understand what you will be marketing, where you’ll be marketing it, and how you’ll be marketing it.
The following P’s make up this framework:
- Product: What are you selling?
- Price: What is the price?
- Place: Where will you be selling the product?
- Promotion: Where will you be promoting the product?
You can then extrapolate this information into a full-fledged marketing plan for each promotional channel.
2. Marketing Objectives
You should outline your marketing goals before building upon your strategy. Why? Because your goals will inform other components of the plan, including the budget and content creation process.
With every objective, you should aim to be as specific as possible. Try to create SMART marketing goals divided by channel or promotional tactic, and don’t forget that you can always come back and revise your goals as your priorities change.
3. Marketing Budget
A marketing budget is an essential element of your strategy. Without allotting funds to hiring the right talent, using the right software, advertising on the right channels, and creating the right content, your marketing strategy won’t have a powerful impact.
To get a high return on investment, you must first invest.
4. Define your brand value and offering
Your brand strategy is about defining the core values of your brand to make sure that they align with what your prospect and existing customer find important, that they align to your industry trends and competitive environment, and to what you actually offer ie your product.
5. Content Creation
Once you have your budget, competitive outlook, and STP information, it’s now time to take the most critical step: Creating your marketing content. But it’s essential to undertake this effort strategically.
For one, you don’t want to publish random content that doesn’t solve for the customer, and for two, you must aim to capitalize on emerging trends so that your brand enjoys high visibility in the marketplace.
It’s even more essential to invest in trends that have a high ROI, such as short-form videos, influencer marketing, and social media DMs.
6. Metrics & Key Performance Indicators (KPIs)
your marketing strategy must include metrics and key performance indicators to understand how well your strategies are working.
The KPIs you choose will vary depending on your business type and preferred customer acquisition channels. Examples of KPIs include:
- Customer Acquisition Cost (CAC)
- Organic Traffic
- Conversion Rate
- Marketing Qualified Leads (MQLs)
What Do You Think?
Now I’d like to hear from you:
What marketing strategy are you going to apply to fuel your business growth in 2023?
Let me know by leaving your comment below right now