Before beginning any marketing campaign, it is important to have a well thought out strategy. The first thing you have to consider is what your objective for the campaign is. Is it to increase sales by a specific margin or releasing new products or services? Proper research will have to be completed to insure that your upcoming campaign is worth pursuing. With the data from the research methods you will be able to map out a strategy and then a plan on how to carry it out.
The research step is crucial in the success rate of your marketing campaign. Secondary research will have to be performed, both qualitative and quantitative. Through your research you have to decide if you are going to focus on the price, the service or the quality of the product. A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis will also help lay out a foundation for your strategy. Once all that information is laid out and covered you may begin to focus on the strategy.
Every Marketing Strategy has to begin with the 4P’s (Product, Price, Place, and Promotion). With regards to product, you want to figure out what emotional benefits users will have after using your product. Will it be a routine purchase or impulse? Who will be your target demographic? What separates your product from the rest, what is its message?
Considerations for price include which price level are you in low, medium, or high. Also consider if your price is comparable to the quality of the item. Place is also very important, where will your item be sold? Is it easy to find it and buy it? There are many different ways you can sell products online; figuring out which one will have the best conversion rate is the challenge.
Promotions are where the creativity comes into play. Deciding your advertising channels, TV, Web, Mobile, or radio are all viable options. You have to choose which one is better associated with your target demographic and will have the more successful call to action. Will it be a local campaign or a national campaign? Whoever said marketing is easy was not being honest with you. It is a lot of work but can lead to prosperous results. It can be the difference between losing money and making it.
More Business articles from Business 2 Community: