Strategic Marketing Services: Enabling Future Profitable Growth for Your Businessby Patrick D. Business
Strategic marketing services are important to ensure that you are communicating the right things, on the right platforms and channels, in the right ways, and to the right people.
For example, in order to be easily found on the internet by your ideal customers, you need to communicate the core difference between your offerings and those of your competitors. And in communicating these differences, you need to communicate to the right people. Trying to chase all types of customers can lead to attracting or speaking to the wrong people, which may result in the waste of your marketing spend to the wrong audiences. Just because customers have a need for the products or services you sell doesn’t mean they are the right fit for your business. Marketing strategy services can help you target the right audience with the right strategic plan in the first instance.
Strategic marketing involves careful planning, SWOT analysis and development of the marketing mix strategy. In the planning phase, strengths, weaknesses and technologies are assessed. SWOT analysis for analysing strengths, weaknesses, opportunities and threats is completed and proposed to the organisation’s decision makers. Marketing mix strategy wo0rk consists of combining and analysing a variety of components which help in strengthening a company’s brand value.
Behind the marketing plan, you will have specific tactical activities which are delivered in line with a predetermined plan. Strategic marketing consultancy becomes important to utilise in such situations, as the wrong strategy it is where many businesses can go awry. With marketing strategy services, an organisation can focus on its’ strengths to provide better services and more value to customers.
Key components of a strategic marketing plan
A strategic marketing company, or business undertaking planning for their brand’s marketing, should keep the below points in mind while developing a strategic marketing plan. These include:
· Lack of skilled workforce
· Assumptions without thorough research
· Coordination of problems and management issues
· Changing consumer demographics
· Incorrect SWOT analysis
· Confusing marketing feedback
Evaluating the current environment
A strategic plan should be prepared after conducting a thorough market and competitor analysis. The strategy marketing company that you hire should set goals in the plan which are in sync with the requirements of your consumers. This way, the plan will be able to evaluate the current environment and what resources are available and at the disposal of an organisation at any given point in time. It will help in understanding how well and organisation is performing within the overall competitive environment. A strategic marketing plan helps in establishing clear marketing objectives with a specific time-frame. It helps in streamlining product development that provides an organisation with high profits.
Identifying the strategic direction
Marketing strategy services can help a business to identify the strategic direction for better decision-making that align this plan with the company’s goals. They will help prioritise the niche market and demographic, to ensure you are reaching out to the right people. The plan should be able to report both goals and KPIs (Key Performance Indicators) with the most critical metrics. Planning for resources, timeline and talent will need to be executed across writing, design and systems integration.
Exploring adjacent opportunities is important for business expansion
A business should identify and analyse the target audience. For example, if you sell technology or software, you should build out strategic target personas which represent the main ‘types of people’ who might be buying your product. Without a thorough opportunity analysis, a business will not be able to strategically market to the highest value or most relevant customer segments. Exploring adjacent opportunities to your core business will allow you to easily build upon your current expertise and brainstorm potential marketing strategies.
Conducing opportunity market analysis
Opportunity market analysis will provide you with a better idea of where your business should expand next, and which marketing capabilities you need to build to expand. A company wanting to secure a certain share of the market should ensure that it has a strategic plan in place to clearly identify its mission and survey the industry situation. The plan should be able to provide customers with the products and services that they need, when they need them. It should ensure that the results of the strategy are in line with the set goals. The marketing team and management teams will need to observe any deviations from this and quickly correct them to get back on course, or adjust plans accordingly where appropriate.
Helping you to formulate an effective marketing strategy
While digital techniques and tactics are fluid and can change quickly, marketing strategy services offer a long-term view. Using a strategic marketing company can help you with where, how and when to compete. KnightRiley is one such agency which can help you formulate an effective marketing strategy for business development. As a leading strategic marketing consultancy, KnightRiley provides comprehensive marketing strategy services and marketing management to effectively map out and deliver your strategy and maximise your plan.
Their experts will evaluate the overall state of your organisation, its capabilities and identify where you should go next. They will put a process in place to achieve your organisational goals through strategic marketing, creating a marketing strategy that will best suit your organisation. As a leading marketing consultancy, KnightRiley can help you with all your requirements related to strategic marketing and the process of developing and actioning a marketing strategy, including vision and mission process, target market analysis, user experience mapping, core value process and more. With proper implementation of well researched strategic marketing planning, you should have a better handle on budget and an overall increase in the profitability and longevity of your business.
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Created on Mar 16th 2021 01:45. Viewed 203 times.