Photo Credit-kaleidico
SME owners often invest in marketing without having a clear understanding of how to stand out in their market niche, engage with customers on a personal level, or navigate the intricacies of digital marketing channels like TikTok or Facebook.
The need for a solid, well-defined marketing strategy has never been more critical. This article is a step-by-step guide for SME owners who aspire to navigate the marketing maze with confidence and clarity.
We’ll explore how to lay the groundwork for a marketing strategy that not only captures attention but also drives tangible business growth.
In order to uplift and transform your marketing efforts from the ground up, you may also wish to consider getting advice from a UK Business Advisors expert.
Step 1 Understand your market and audience
A solid marketing strategy starts with a deep dive into your market and understanding who your customers are. This step ensures your marketing efforts are targeted and capable of achieving your desired outcomes.
Many owners don’t research the competitive landscape, identify market trends, or uncover opportunities for differentiation.
What they should do is:
- Survey and interview potential customers.
- Use online tools to analyse competitors and spot market gaps.
The result is a clear view of where your business stands in the market, allowing you to make informed decisions.
To define your target audience:
- Create buyer personas, which detail the profile of your ideal customers and assign behavioural traits.
- Then consider their pain points and other motivations to buy.
- If you have an ideal customer profile (ICP) based on your sales data, use this. If not, sketch a pen portrait.
This work is important because you want to tailor your marketing to address the specific needs and desires of your target audience.
Step 2 Articulate your Unique Value Proposition (UVP)
Your UVP sets you apart from competitors. It’s why customers choose you.
- Clarify: Describe what you do and how it benefits your target audience, addressing specific pain points identified above.
- Differentiate: Highlight how your offerings or approach are different or better than those of your competitors. Focus on functional benefits. But don’t ignore social or emotional jobs.
- Be consistent: Ensure your UVP is communicated across all marketing materials and channels.
Step 3 Craft your brand story
An engaging brand story connects emotionally with your audience, building brand loyalty and trust. The elements of a great story are your brand’s mission, vision, journey, and the values that drive your business.
Seek:
- Authenticity: Collect and refine the real stories about your business, team, or customers that exemplify your brand values.
- Engagement: Use storytelling to attract customers across various platforms, from social media to your website.
Step 4 Create a marketing strategy statement
Before diving into tactics, consolidate your findings and strategies into a concise marketing strategy statement. This will include:
- Your target market and buyer personas.
- Your marketing objectives and goals.
- The unique approach you’ll take to meet your audience’s needs.
- An outline of the strategies that will get you to your business objective.
- Your purpose. This statement serves as your north star, guiding all marketing decisions and ensuring alignment with your business objectives.
This exercise structures the foundation of a marketing strategy that addresses the nuances and needs of your business, incorporating essential keywords and concepts to enhance searchability and relevance. This is the general direction of your marketing strategy, not the detailed how of a marketing plan.
Step 5 Select your marketing channels wisely
Once you understand your market and have defined your UVP and brand story, it’s crucial to choose the right channels through which to communicate your message. This should be based on the research conducted in Step 1.
The selection of marketing channels is pivotal to the reach and effectiveness of your efforts. If these assumptions are incorrect, no matter how much messaging and creative finessing you do, campaigns will not succeed. So it is important to test new channels before committing to scaled spend.
Potential channels include:
- Owned Media: Your websites, blogs, and social media profiles. These channels are under your control and can be directly used to engage with your target audience.
- Paid Media: Advertising through social media ads, Google AdWords, and other paid channels. This can help amplify your reach quickly, especially in competitive markets.
- Earned Media: Coverage or mentions by media outlets, user-generated content, and shout-outs from satisfied customers. While not directly under your control, it’s highly valuable for credibility and brand trust.
You need to align the channels you use with audience preferences by:
- Revisiting your market research. Use insights to determine where and how your ideal customers spend their time.
- Testing and learning. Be prepared to experiment with different channels and adjust based on performance metrics and audience feedback.
Step 6 Define your marketing objectives with CLEAR goals
In setting objectives for your marketing strategy, consider adopting the CLEAR goals framework. This approach emphasises flexibility and adaptability, which are crucial in today’s fast-evolving business landscape.
- Collaborative – Goals should encourage teamwork and leverage the strengths of different members of your organisation. This fosters a sense of ownership and shared purpose in achieving marketing objectives.
- Limited – Keep goals focused and time-bound, but with a scope that encourages significant impact rather than stretching resources too thin. This ensures efforts are concentrated on the most impactful initiatives.
- Emotional – Connect goals with the passions and motivations of your team. When goals resonate on an emotional level, it can drive more engagement and dedication to achieving them.
- Appreciable – Break larger goals into smaller tasks that can be quickly achieved and appreciated. This helps maintain momentum and provides regular feedback on progress.
- Refinable – As new situations arise or as you gain more information, be prepared to refine or shift your goals. This flexibility ensures that your marketing strategy remains relevant and effective.
Moving Forward with CLEAR Objectives
By integrating the CLEAR goals framework, you create a responsive approach that can adapt to changes and capitalise on new opportunities.
Step 7 Develop and execute your marketing tactics
With your channels and goals in place, it’s time to detail the plan and specific actions you’ll take to reach your audience and achieve your objectives.
Crafting Your Marketing Plan
- Content strategy. How you will create and distribute valuable, relevant, and consistent content to attract and retain a clearly defined audience. (Blogs, videos, infographics, and podcasts are examples of content that can be leveraged.)
- SEO strategy. Incorporate SEO best practices to enhance your visibility on search engines and drive organic traffic.
- Social media plan. Outline how you’ll use social media to engage with your audience, including the types of content, posting frequency, and engagement tactics.
Execution and Agility
- Implementation. Launch your marketing initiatives based on the planned tactics, keeping the focus on your defined marketing goals.
- Flexibility. Be ready to pivot and adjust your tactics based on the performance data and feedback from your audience.
Marketing Strategy Conclusion
Creating a marketing strategy from scratch is not complicated. By undertaking this work, your business can effectively engage its audience, differentiate itself in a crowded market, and achieve your business goals.
The process is iterative and requires ongoing evaluation and adaptation to ensure continued success in a rapidly changing business environment. Using a UK Business Advisor to support you through this process is a smart investment.
Chris Talintyre | UK Business Advisors (ukba.co.uk)