Optimise Your Marketing Strategy

Optimise Your Marketing Strategy
Dimitris Siakavelis
by Dimitris Siakavelis

Getting your company and product known is one of the most crucial elements that determine whether your business will be a success. While you could use the scattergun marketing approach using whichever marketing means available to you, this is unlikely to be converted effectively into sales, therefore you will need to put in a bit more effort to make your marketing work for you.

Who Are You Selling To?

Most products and services will have some sort of market audience that will be more likely to buy a certain type of product than others, so therefore you will have to direct your marketing at the people who are most likely to become a customer of yours.

"Without promotion, something terrible happens... nothing!"
- P. T. Barnum
It is worth taking the time to find out whether your target audience respond better to online adverts than newspaper adverts, or if a leaflet through the door gets the best response. Closely linked to this activity is that of assessing what your competition is and what they are offering compared to what you are planning to offer. It is worth checking out some of the government funding schemes at this point, even before you put your business plan together, because there are grants available to carry out this type of market survey in order to assess the viability of a business.

Putting Together Your Marketing Strategy

Your marketing strategy is likely to have a number of elements. Most will come from the work that you have already carried out in identifying who you are going to be selling to the types of media that they will be most responsive to. The other elements are then to plan your marketing strategy and assess which media you are going to prioritise and the costs associated with each one. You are not alone as there is advice available in order to get you started with your marketing strategy and also to help you to define your marketing budget.

There are currently a large number of marketing options that range from leaflets through doors to utilising social networking sites. Each one has both a time and a financial burden associated with it, so your marketing budget should not only consider financial cost, but also time costs as well. Should your marketing strategy work as predicted you should then also be able to predict your future sales more accurately, which in turn will allow you to keep on top of your finances.