You have established a marketing plan – now what? It is time to establish your marketing strategy.
Your marketing plan included what and why, but the strategy is how you will accomplish the goals you set.
Marketing Strategy: What Is It?
A marketing strategy is a playbook for how you will reach your goals while turning your target market audience into loyal, repeat customers. It stands a constant, but fluid, guide for how you will let others know about your brand.
Brand Example: Adwoa Beauty
Before we dive into how to create your strategy, let’s start off with an example. Adwoa Beauty is one of my all-time favorite hair product companies. Founded in Dallas, Texas in 2017 by Julian Addo, Adwoa Beauty is a “clean, gender-neutral beauty for kinky, curly + wavy textures.” This is a concise statement of what they do and why.
Photo Credit: Adwoa Beauty
The product line is how they are getting their message and strategy across. Throughout their website, social media platforms, and email marketing, their main message is to provide clean hair products to individuals with kinky, curly, and wavy textures, and enticing the benefits and features of why you should try and buy.
This is a classic, but a great way to consistently market – but it all starts with a great marketing strategy. While a strategy can cover a lot of items, this post will cover one of the basic marketing principles, the 5 P’s of Marketing.
5 P’s of Marketing
Product/Service
Know what your product is. It can be a physical or virtual product and or service. Write out exactly what it is, the problem it solves, how others should use it, and other pertinent information.
Price
Create your pricing model. Here are some questions to start the process, if you have not already:
- What dollar amount will you sell your products and/or services for?
- Does your price factor in any materials, tools, and/or items needed to create?
- Will you offer special promotions, discounts, deal bundles, etc?
Promotion
This is where the fun stuff comes in. Social media, email marketing, events, paid advertising, etc.
These platforms help to reach the identified target market audience in your marketing plan. Once you choose the best platforms, you will need to create a plan for:
- How often you will post on social media and send emails?
- How you will interact with your audience in the comments and messages?
- What type of content you will share?
Place
Find the right place for where you will sell your products and/or services. With the state of the world right now, online is the best market option. So many services are available for free or reasonably-priced for startups or small businesses. Minimally, all brands should have a website or landing page (this is non-negotiable) and on at least one social media.
Process
Processes = efficiency. Efficiency keeps your business in motion. Model your customer service process. This should include what your target market will experience from the start to end of their purchasing journey. Here are some questions to answer:
- Is there a 1-2-3, etc., step process of how the sales cycle will work?
- How will your customer service their product and/or service?
- How will you respond to your audience on social media?
- What is the timeframe for responding to emails?
Stop Procrastinating
I get it – it is easy to keep putting off important items you need to do, day after day. This post is here to serve as your inspiration and motivation to get what you need to be done! I want you to win, period.
Need help? Comment below. Want personalized help? Strategize with Jailyn. Book your initial strategy session today.
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