Marketing Strategy Tips for the Eager Entrepreneur

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Let’s build our building!

We know you’re busy.

So without delay, we will explore the basic architecture of marketing strategy.

Think of “Marketing Strategy” as a glorified term for a wishlist.

In this article, we will compare it to constructing a building. It’s not to be confused with a Marketing Plan. That one functions more like a to-do list.

Right, let’s get to the good stuff.

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1. Laying down the Concrete: Before you view the blueprints, you need to go to architectural school. For someone developing a marketing strategy, that enrollment begins with the Five Ps of Marketing. These are the main areas concerned with marketing strategy. They are the glue that holds your business plan together. The beginning is the difficult part. Remember that you can’t just give up when the going gets rough. These initial problems are the most important ones to solve! Repeat like a mantra “I will solve this problem and move forward”. The more you do this initially, the more stability your “building” will have down the road.

2. Here we will discuss The Shape of the Building. There are some things that an architect must abide by in his pursuit of creation, and the same applies to our marketing strategy. Here are several key factors in Marketing Strategy:

Specialization – Figure out what your unique voice is, what product/service you will specialize in. Differentiation – This is your competitive advantage. It’s how you are different from all the other businesses out there. Segmentation – Here you create multiple areas of your business that specialize in various tasks and establish communication between them. Concentration – After knocking on doors, and working 70 hours or more a week, you’ve determined the best way to focus your efforts, and you know your target customer. 

3. New Tech: See what people are interested in this month. You need to stay as current as possible to ensure differentiation. This part of the building is like a Virtual Reality room set-up for customer entertainment. New innovations are your USP (unique selling proposition)

4. Fortify: Your competition determines your marketing strategy, from pricing your products, profit levels, business growth, and more. This is the militaristic point of view so grab, The Art Of War By Sun Tzu and begin building fortifications around your construction. The word “Strategy” is used for a  reason, it’s a competitive concept, and sometimes you need to think competitively to be several steps ahead.

Instead of working fighting like crabs in a bucket, pulling each other down, you need to learn how to rise above it. Learning HOW to compete will allow you to succeed, and it is fundamentally a companies choice whether it engages with meaningful issues or not. A successful marketing strategy is one that should make you wake up every morning and want to perform at your best.

 

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