Why are marketing strategies important? What are some important tips in developing one?

Written on December 7, 2020 by

Co-Produced by

Parth A. Patel

Parth A. Patel

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Marketing strategies are essential in starting a business. Statistics show that businesses with a documented marketing strategy are 538% more likely to succeed. So what is a marketing strategy? According to Investopedia, a marketing strategy refers to a business’s overall gameplan for reaching prospective consumers and turning them into customers of the products or services the business provides. It acts as a guideline and will aid you through all financial decisions. This is a conceptually easy concept to understand, but applying it takes time. In this article, I will convey the importance of marketing strategies.

I know most of you have heard that nearly half of companies don’t even make it to 5 years. But do you know why? It’s all about the marketing strategy. Businesses that don’t survive after 5years fail because their poor marketing strategy causes them to begin to lose to competitors. What this means is that owners will begin to lose market share, lose more customers, miss out on opportunities for better targeting/optimization, and suffer a decrease in revenue. Now that you know the negatives of having a poor marketing strategy, let’s get into developing an effective one. One of the most important things to remember in developing a market strategy is finding a target audience. Your strategy should incorporate your audience’s interests and needs. For example, if you started a college counseling business for seniors who plan to go to top colleges, you’d most likely want to use social media platforms such as Instagram, Tiktok, Snapchat, and Twitter to inform people of your business. Additionally, a good idea that can help your business get on its feet is the S.M.A.R.T strategy. It means ​Specific ​Measurable ​Attainable ​Realistic T​imely. By translating these goals into marketing initiatives, you’ll be able to put resources towards the right things. This strategy will help you come up with a goal that’s reachable in a realistic amount of time and will put your business on the path to success. Still, confused? No need to worry! You’re never alone! There are so many digital marketing agencies out there such as Brandarrow that will do all this for you! They’ll guide and market your business at a minimal cost!

At Brandarrow Agency, our marketing algorithms top all other competitors. By coming to us, we will not only help you come up with a successful marketing strategy, but will also include in our services social media marketing, search engine optimization, digital advertising, website designing, app development, content writing, and so much more! We also offer a free trial for the first 30 days! If you’re not satisfied with our services, you can cancel with no hidden fees or obligations, but we doubt you’ll be dissatisfied. From there, our plans go as low as $1 a day! By joining us, we will create opportunities for your business by showing your products or services to our many clients who might be potentially interested in what you have to offer. Contact us today for a free consultation by hitting the button below!

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