Marketing is one of the most important things a business can do. But when it comes to successful marketing, you need to have a clear plan and be able to execute on it. You don’t want to fall short, so understanding your marketing strategy is essential. With that in mind, we’ve put together some of the best tips on How Long Does It Take to Develop a Marketing Strategy, how long does it take to create a content strategy, marketing strategy examples and how to develop a marketing strategy.
What is a Marketing Strategy?
A marketing strategy is the plan that establishes how a company will target and reach its customers. A marketing strategy should identify the products, services, or locations that the company wants to sell and how it will do so in a way that leads to customer conversion. Additionally, the strategy should identify how to measure whether or not the marketing effort is successful and what actions must be taken to adjust or improve upon it if it is not.
What Types of Marketing Techniques Can You Use
Marketing techniques can be classified into two groups: cost-effective and effective. Cost-effective marketing techniques involve using lower-cost methods to reach your target audience while achieving high levels of success. These include print, digital, broadcast, pay-per-click, social media, and direct mail campaigns. Effective marketing techniques use more expensive methods but achieve better results because they produce tangible results that encourage customers to keep using the product or service. They include online advertising, public relations management, targeted email advertising, targeted lead gen campaigns, weight loss programs, and home health care arrangements.
How to Pick the Right Marketing Strategy
When choosing a marketing strategy, it is important to consider the following: the target audience, the product or service you are selling, the budget you have available, and your desired results. Additionally, it is important to choose a marketing mix that will fit your company’s culture and business objectives. You can find more information on this topic on the Internet and in published guides or booklets.
How Long Does It Take to Develop a Marketing Strategy?
Depending on the complexity of the plan, the goals, the budget, and the available staff, the majority of client marketing strategies can be finished in 8 to 12 weeks. The first step of the process is to conduct research on the company, its current state, previous projects, competitors, the industry as a whole, ideal clients, target markets, and other factors. At this stage, the marketing plan’s specific objectives are defined.
How Long Does It Take To Create A Content Strategy?
A 500-word blog post takes 1-2 hours to write, thus a weekly blogging schedule would demand 4–10 hours of work per month, according to HubSpot data.
However, this figure may change depending on the blog post’s industry, subject, and requirements. It also relies on the duties that are included in the writing time for blog posts, such as coming up with headlines, making images, optimizing them for search engines, and promoting them.
For instance, Buffer produced data showing that it takes approximately 3 hours to write a 1500-word blog article; however, this time includes writing, research, photos, editing, promotion, headlines, SEO, and outlining.
When it comes to new product launches, customer case studies, and product features, videos provide excellent material for B2B lead generation. In fact, 79% of B2B marketers utilize video in some capacity to promote their goods. Depending on whether you’re doing a quick video for Twitter or a lengthy features tutorial for YouTube will determine how much time you’ll spend on the camera. Generally speaking, a 15-minute video will take around 2 hours to plan, shoot, edit, and promote.
Social Media Marketing
About 40% of marketers devote 1 to 5 hours each week to creating content for social media, while 25% devote 6 to 10 hours. This includes the time it takes to load and schedule updates, create images (because tweets with images have been shown to generate greater click-through rates, retweets, and likes), and monitor and engage with followers. Based on our experience, we determine that a medium-sized B2B company’s typical social media campaign takes roughly two hours each week to complete.
Marketing Strategy Examples
1. Bounty: Surprise Your Audience
The Bounty paper towel company uses guerilla marketing strategies to surprise consumers. Guerrilla marketing can be defined as unexpectedly putting your brand in front of consumers. Bounty placed life-size “spills” throughout New York’s bustling downtown neighborhoods.
Coffee mugs that have fallen over and enormous ice creams that are melting will undoubtedly draw attention. Bounty piled up stacks of paper towels next to the mess to visually but simply communicate their message. A billboard would have been an alternative, but it wouldn’t have had the same impact as this one.
Your key takeaway: Consider novel approaches to connecting with customers. Draw attention to their problem and the remedy your brand provides.
2. Myfix Cycles: Retarget Consistently
On one point, marketers will all concur. Internet surfers today have limited attention spans. It’s nearly tough to persuade consumers to concentrate on one item because of chat apps, window switching, and “real world” responsibilities.
Retargeting is similar to a second chance to win over lost clients. It can also be used to upsell to current clients or to reactivate inactive users. This is accomplished through deliberately timed warnings being sent to targets via SMS, emails, advertising, and pop-up windows.
3. GoPro: Leverage User-Generated Content (UGC)
Adrenaline junkies who enjoy filming their daring feats are big fans of GoPro cameras. GoPro makes it incredibly simple for users to create and share professionally produced videos using their cameras.
The company’s logo and branding features are automatically added to each clip via their video editing application. Following that, GoPro posts this UGC to their social media networks. Other GoPro users are inspired to make sponsored videos as a result, creating a snowball effect.
By holding the GoPro Awards, GoPro raises the stakes. They give away hardware, monetary awards, or “social stokes” (a name they invented for shoutouts and reshares on GoPro’s official social media accounts) to the creators of the greatest material. The outcomes? Genuine social evidence and customer loyalty at no further expense.
4. Warby Parker: Monetise Your Brand Story
With a purpose in mind, Warby Parker was started. The eyeglasses business wants to offer designer spectacles at competitive pricing. They are Gucci and Armani for the average person. But they do more than just market eyewear; they humanize their company’s brand.
On the History part of their website, it is mentioned that the owners of the company experienced eyesight problems but were unable to afford glasses. To end the stranglehold of luxury brands and offer high-quality glasses at reasonable costs, they established the brand. That is a compelling tale of a real company supporting a worthy cause.
5. Vogue: Power Your Loyalty Programs
Vogue Australia introduced Vogue VIP, a supercharged loyalty program that offers numerous benefits to devoted clients. A free membership to Vogue’s e-magazine is one of them. Other perks include magazine doorstep delivery, early access to premium content, time-limited deals, VIP invitations to Vogue events, and limited-time specials.
Even while many companies have some kind of client loyalty program, they don’t necessarily make it known. Customers are consequently unable to use their points or advertise the program. By creating a special website to monitor how well their clients are responding to the project, Vogue demonstrated their dedication.
Your key takeaway: Establish a strong members-only program to give your customers a sense of value. Promote it via your website, social media accounts, newsletter, emails, and SMS.
6. Coca-Coca: Champion a Cause
56% of people believe that brands exploit social causes for commercial gain. One of the causes of the low level of brand trust is this. However, Coca-Cola has defied expectations by promoting “happiness.”
In Brazil, Coca-Cola introduced the “The Happiness Truck” campaign, in which a red truck drove the streets and gave away free goods to everyone who pressed the red button. To raise awareness, they posted a 30-second commercial on YouTube. They replicated the feat in Armenia and Istanbul once the commercial got popular.
How To Develop A Marketing Strategy
It is obvious that planning and strategy go hand in hand in marketing. Making a plan follows developing a marketing strategy, and neither is complete or useful without the other. A corporation needs to seek both inside and internationally for both. You must understand both your brand and your target audience in order to create connections between the two.
We’ve described some of the actions you may follow when creating marketing strategy and plans to assist you in getting started. These can be used as a starting point while working alone, even though the specific stages frequently vary depending on the organization.
- Set a goal first.
The objectives of your marketing strategy should line up with those of your entire firm. For instance, if increasing income is your primary goal, your marketing plan goal can be to boost website traffic and conversions by a given percentage.
Creating a mission statement is another way to get started. This is essentially the “what” and “how” of your company—a description of your goals and your plan for achieving them. It can assist you in creating a central theme for your marketing initiatives, although being less measurable from an internal standpoint.
- Complete your market research
Understanding the market you’ll be operating in is a prerequisite for creating a marketing strategy. Every stage of this procedure revolves around marketing analytics. However, you should first gain a sense of the existing circumstances both inside and internationally.
Pay attention to your company’s advantages and disadvantages, as well as recent market trends. Look for new and existing trends, then think about how you may profit from them. Try to draw attention to any difficulties that you, your rivals, or both may be experiencing.
- Recognize your audience
When you’re planning, the needs of the clients should drive all you do. You must consider their wants and how you might meet them more successfully than your rivals while developing a marketing strategy.
You should start by identifying some of your target markets and taking your client personas into mind. These are two of the primary methods you may get to know and understand your clients, whether you’re beginning a new business or are a part of an old one.
Knowing the specifics of the audience you’re attempting to reach will enable you to begin considering the best course of action. Your marketing will become more relevant and focused, which will improve its chances of being successful.
- Understand your resources and goods
You must be aware of what you’ll be providing your clients, whether you already have a product or service or are still in the development phase. Understanding where you stand in the market or business is the main objective here.
The “4 Ps of the marketing mix” is a very well-known strategy you can employ at this point. They are as follows:
- Product. Here, you should consider what you offer to customers and what makes it special. Consider whether it satisfies your clients’ needs and whether there are any features you can add.
- Price. This pertains to the price you charge for the goods and how it stacks up against your competitors, as one might assume. Consider ways to grow your market share as well, such as through marketing.
- Promotion. What will most appeal to your audience and where can you promote your product? You should think about these issues as well as how these promotions fit into your brand identity.
- Place. Last but not least, think about the location where your good or service will be sold. Is it only available online? Or should I consider your actual stores? How simple are these for customers to use? Who will distribute your product, by the way?
The 4 Ps might help you have a better knowledge of the marketing tools and goods you have at your disposal.
- Clearly state your goals.
As said in step one, you should already have some overarching objectives for your company. You’re going to need to be strategic if you want to accomplish this goal. Prior to achieving your main goal, you should consider some of the smaller goals you can accomplish.
As with many of the things mentioned here, your particular business will have a big impact on what the precise goals are. However, a few instances are:
- acquiring new clients
- raising conversion or sales rates
- Increasing consumer and brand awareness
- expanding your email database
Alongside them, you should include measurable objectives. One goal might be to “add 2,000 new subscribers to the email list by the end of the year,” for instance. Do not forget that these objectives should be SMART (specific, measurable, realistic, relevant, and timely) goals.
- Describe the procedures
You should consider some of the marketing strategies and channels that are available after you have set and defined your goals. Again, these will mostly depend on your unique business and aims, and you can choose from a wide range of various approaches and technologies.
Let’s use the aforementioned email subscription goal as an illustration. You might wish to consider strategies like boosting website traffic via social media marketing. Similar to this, you might wish to increase the number of subscription calls to action in your content strategy. Then, you may use marketing analytics to emphasize the factors that are currently influencing your subscription rate.
7. Set a budget
Whether this point belongs in your marketing strategy or marketing plan is up for debate. Wherever you decide to incorporate it, though, it is a crucial step in the procedure. Make sure you have budgeted enough money to accomplish your goals without going overboard. Similar to that, you must make sure that your investment is yielding a significant return for the marketing activity to be profitable.
We’ve addressed components of budgeting in one of our posts on how to start a business. Here, we stressed the significance of precisely estimating your return and costing your expenses. The same guidelines also apply here.
- Make a marketing strategy.
This is an essential phase in developing a marketing plan. We won’t go into detail here because we covered the essential phases for this process farther down.
- Review performance.
Having a thorough method of monitoring performance is crucial, just like it is with almost every other aspect of running a firm. When creating your marketing plans, you must consider how you will evaluate the performance of your efforts.
How to Start a Marketing Campaign.
There are many types of marketing campaigns that you can start, depending on the goals that you want to achieve. Some common marketing campaigns include online marketing, print advertising, and direct mail.
How to Choose the right Marketing Campaign
One of the most important things to consider when choosing a marketing campaign is whether or not it is the right fit for your target audience. For example, if you’re looking to reach millennials, then a digital campaign might be a better option than a print campaign. Additionally, make sure that your marketing strategy is designed to get your target audience interested in your product or service – without over-promoting or alienating them.
How to Plan and Execute a Marketing Campaign
Once you have chosen a marketing campaign, it’s time to start planning its execution! To begin, create a plan with your team and outline all of the steps needed to complete the project successfully. Next, work on developing an effective messaging strategy for your campaign – ensuring that your message resonates with your target audience and drives results. Finally, make sure that all of your components are coordinated and executed flawlessly in order for your campaign to achieve its goals!
How to Monetize Your Marketing Campaign.
There are a number of different ways to monetize your marketing campaign. You can choose to sell advertising, offer discounts or rewards for loyalty customers, or sell products or services. The most important thing is to find the right method for your business and goals.
Once you have determined which monetization methods work best for your business, it’s time to start planning and executing your marketing strategy. This includes developing a budget, setting up targeting campaigns, and measuring results. By following these tips, you’ll be able to create a successful marketing campaign that benefits your business and leads to growth.
A marketing strategy is the set of steps you take to reach your target audience and turn a profit. A marketing campaign is the sequence of activities that are used to achieve this goal. The different types of marketing campaigns you will see vary depending on the target audience and business goals. To monetize your marketing campaign, you will need to utilize different methods such as advertising, social media, and selling products.