MARKETING STRATEGIES
MARKETING STRATEGY STARTS WITH BUSINESS STRATEGY
BY : ANDY BUYTING
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I often consult with businesses that want to crack the code for effective marketing strategies . When I speak to them about what an effective marketing strategy might look like , we don ’ t even talk about marketing for the first half of the conversation . What we focus on first is their business strategy .
Marketing can be daunting . It ’ s overwhelming and can be difficult to figure out where to start when the world of digital marketing is so complicated . Everyone just wants to uncover the right strategy for their business .
Businesses often respond to this challenge by simply attempting to mimic market leaders , but this doesn ’ t get them anywhere because their business strategies aren ’ t the same as the market leaders . Industry leaders are running a completely different business than you are , so you won ’ t succeed when using a marketing strategy identical to the one they have in place . You need to develop a unique marketing solution that fits your business .
To come up with an effective marketing strategy , the first thing you need to do is fully understand your business strategy . That ’ s why I always start the conversation here .
Not only do I want to understand the usual details of your business , like industry , product and service lines , target markets , and sales force . More importantly , I want to understand where it is you want to take your company . What ’ s the company ’ s purpose and reason for being ? What is your mission and vision ?
I want to understand what your five-year growth plan looks like and what it means in true dollar terms . This is important because it tells me and my associates at Tulip Media Group what kind of growth you ’ re looking for . We also look at your past growth trajectory to identify the gap we are trying to fill with an effective marketing strategy . There are so many questions we need to ask about your business before we can even begin to formulate a marketing strategy that will work for you .
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