Strategic Marketing will take your brand and business further
“The aim of strategic marketing is to know and understand the customer so well, hence, the product or service fits him and sells itself.”Peter Drucker
Fredrick is excited. He just got himself a franchise deal with a global pizza retail business; the first on this side of the continent. He lives close to the Central Business District. In the same way, getting a good location somewhere in the CBD would position him best for great sales. With some savings and some collaborative partnerships, Fredricks Pizza House is alive; friends, family, well-wishers are excited.
Fast-forward eight (8) months in, the business is running, but not profitable. Each month, his savings are dwindling. He is not making enough profit from his business to cover all the expenses. You knew it usually takes about six months to get a business off the ground. Now that the shop has hit its stride, he asks himself some deep questions; How can Fredrick Pizza House bring in new business and generate profit?
Marketing according to Investopedia; refers to activities a brand/company undertakes to promote the buying or selling of a product or service. It is the promotion of business products or services to a target audience. Strategic marketing includes advertising, selling, and delivering products to consumers or other businesses. What Fredrick needs is to create a marketing strategy for his business.
The Market is dynamic and creating strategic marketing for Fredrick’s business needs to be bespoke for his business segment.
Product, price, place, and promotion are the Four Ps of marketing. They make up the essential mix a company needs to market a product or service.
- Product: – refers to an item or items the business plans to offer to customers. Understand what product is being sold, how it stands out from its competitors and whether there are substitute products in the market, etc.
- Price: – refers to how much the company will sell the product for. This dynamic considers the unit cost price, marketing costs, and distribution expenses before arriving at a profitable price tag.
- Place: – refers to the distribution of the product. This considers whether sales will be through a physical storefront, online, or through both distribution channels
- Promotion: – includes a variety of activities such as advertising, selling, sales promotions, public relations, direct marketing, sponsorship. Different promotion types vary, depending on what stage of the product life cycle the product is in.
What Fredrick can do for his business is to essentially have detailed knowledge of the following.
Identify his business goals.
State his marketing goals.
Research the market.
Profile potential customers.
Profile his competition.
Develop strategies to support your marketing goals.
Test developed ideas.
Key Areas of Modern Marketing We Can Help Fredrick With
Creating valuable content that helps inform your audience, entertain, educate, and solve their problems. This content includes blogging, website content, videos, social media engagement, eBooks, brochures or magazines, or any other type of digital content used for marketing. This will help Fredrick develop engagement with the market
A strong pillar in marketing. It is the act of targeting consumers with a commercial message through email with the goal of building relationships, increasing customer loyalty, driving sales, and/or communicating important information. Fredrick will utilize Email Marketing to build relationships and drive his Pizza brand as the authority in that segment.
Social Media Marketing
Fredrick can harness this by creating content tailored to the context of the individual. The social media platform being operated, in order to effectively drive user engagement, build brand awareness, develop your own social community, sharing and getting your content and products in front of new people.
Asides from creating commercial ads that can feature on Television. Fredrick can take advantage of online video platforms and create videos that project the value of his pizza business and how it aligns with his target market. Videos are 65% more effective for passing messages and reaching the markets. Hence, taking advantage of platforms like YouTube, Pinterest, Instagram, etc., is a strategy to key into.
Search Engine Marketing (SEM)/Pay-Per-Click (PPC)
Getting ads on search engines is also efficient. PPC advertising offers marketers an excellent opportunity to sell products directly to searchers. It’s also great because it makes it possible to see exactly how much you’re spending vs. how much revenue your advertising efforts are generating.
Search Engine Optimization (SEO)
Is the process of improving your website to increase its visibility, getting your web pages to rank higher for relevant searches. Search (on search engines like Google, Bing, Yahoo etc.) is one of the main ways in which people discover your content online, ranking higher in search engines can lead to an increase in traffic to a website, increase in traffic to your website means the opportunity to get sales. This is why it is important.
Fredrick can take advantage of Media Buying, i.e. the process of buying media placements for advertising on TV, in publications (magazines, newspapers, online publications/group pages), on the radio, digital signage, or on websites.
This is an option for Fredrick as it involves working with popular people (influencers) within a given niche or industry to put your products in front of their audiences. They have to influence the type of people with whom a brand wishes to establish a touchpoint.
As a Wrap
In essence, creating and running a good marketing strategy is Fredrick’s option to build his business, to the heights he wants it to attain. Asides the strategic marketing, there might be several other functionalities to take care of, such as accounting, budgeting, product quality, etc., but a good marketing strategy is a great agenda for continuity.
If you are like Fredrick and your business seeks strategic marketing attention in both marketing and communication, contact us today, subscribe, and get a free 2-hour consultation