Section 4.09 E-Marketing Strategy

Module 4

Marketing strategy is where we play and how we win the market. Tactics are how we then deliver on the strategy and execute for success – Mark Ritson

What is a marketing strategy?

According to Investopedia, a marketing strategy is a company’s entire game plan for attracting prospective customers and converting them into clients of the company’s products or services.

So, it’s all about strategic planning for how you’ll bring your business in front of the people who will buy from you. As we’ll see, this process has numerous components, requiring a great deal of analysis, planning, and study.

Why do you need a marketing Strategy?

There are a variety of reasons why your company requires an e-marketing strategy. Take the time to develop your e-marketing strategy otherwise, your promotional and sales efforts will be less effective. There are a number of reasons for this, many of which are critical to your company’s growth,

It helps you reach your target audience: One of the most important reasons to develop a marketing strategy is to assist you in connecting with the appropriate people online. Understanding your target audience is critical to success, as we discussed in our series on how to start a business. You can not only figure out who your customers are and what they want from your company when you have a marketing strategy in place, but you can also figure out how to contact them.

It keeps your marketing consistent: Consistency is crucial when it comes to building your brand and reaching out to new customers on the Internet. Your company’s overarching identity should be reflected in your brand messaging and images across all channels. A marketing strategy can help with this alignment by ensuring that your message is clear and consistent.

It serves as a guide: You have a clear plan for how you can engage with customers when you have an e-marketing strategy in place. You’re aware of their buyer personas and problem issues, as well as how to communicate effectively. This is helpful for any team or individual in your organisation who wants to sell your products or services, as it walks them through the process.

Learn About Your Competitors

Look up information on your competition. Look for articles or advertisements in trade or general media. Examine their promotional materials. Look them up in phone books and directories. If it’s an internet company, request a free trial of their service.

Is it possible that they are gaining more attention than you, possibly through networking or event sponsorship?

Read a copy of your competitor’s annual report if they are a public corporation.

Go to the internet

Examine the websites of your competition. See how they stack up against yours. Examine any interactive elements of the site to determine if there are any areas where you might make improvements for your own website. Is the information available for free? Is it simple to locate?

From the company’s history to employee bios, business websites frequently provide information that organisations haven’t previously disclosed.

To find related products, use a search engine. Find out who else is willing to provide them and how they go about doing so.

Websites can provide you with useful information on what companies across the world are doing in your industry sector.

Study don’t copy your competitors

“Imitation is the highest form of flattery,” as we all know. Drawing inspiration from other people’s work has been done for millennia in the fields of art, science, and business.

However, duplicating your competitor’s marketing strategy might be far more harmful than it appears. While it may be enticing, mimicking the competition comes with a number of drawbacks. Here are some of the most crucial reasons why you shouldn’t replicate your competitor’s creativity, as well as the consequences of doing so:

It’s Unoriginal

Consumers who are aware of imitation marketing will recognise it. It demonstrates to them that your company lacks imagination and a desire to sell itself in a unique way. You’re not testing the waters to determine what works and what doesn’t for your business if you imitate creativity. As a result, your company’s marketing creativity and progress are lacking.

It might be mistargeted

There’s no certainty that the competition you’re stealing from is aiming for the same demographic as you. It’s possible that their strategy was created with a certain demographic segment in mind that you don’t want to reach. Each company has its own approach to audience targeting, and without that knowledge, you won’t be able to tell if the creative is fit for your target market.

It’s confusing

This is true for both your company and your customers. You’re not offering your company its own distinct brand identity if you duplicate your competitor’s creative. You’ll also confuse potential clients because you and your competitors creatively use the same style and messaging.

When it comes to your marketing efforts, don’t underestimate the damage that imitating your competitor’s creativity can do. If you remember these reasons, you’ll be less tempted to try to develop your own version of a brilliant radio jingle, for example.

Know Your Products & Services

You need to know what you’ll be delivering your customers whether you have an established product/service or are still in the development stage. Your goal is to figure out where you fit in the market/industry.

The ‘4 Ps of the marketing mix,’ as it’s known, is a well-known method you can apply at this point. These are the four points:

Product: Here, you’ll want to look at what you provide customers and what makes it special. Consider how it fits your client’s needs and whether there are any features you can add.

Price: As you can assume, this pertains to the price of your product and how it compares to competitors. Consider how you may improve your market share through promotions and other means.

Promotion: What are the best places to promote your goods, and what would appeal to your target market the most? These are questions you’ll want to think about, as well as how promotions fit into your overall brand identity.

Place: Finally, think about how and where your product or service will be sold. Is it only available online? Do you have any physical stores in mind? How simple is it for customers to find their way around these? And how will your product be distributed?

The 4 Ps might help you comprehend the product better.

Skills Needed to Deliver The Strategy

Creativity and Problem-Solving:

Cutting through the clutter and delivering a message that resonates with your target customer is the goal of marketing. One of the hallmarks of a successful marketing professional is creativity and thinking outside the box to develop new ways of doing things. Even if you don’t consider yourself creative, marketing still necessitates the capacity to approach problems from new perspectives and devise novel solutions to emerging challenges.

Communication:

Because marketing is really about talking with an audience, it’s no wonder that communication is the most essential skill for people working in the sector. As a marketer, you’ll need to be able to explain yourself and transmit thoughts to others in a clear, engaging manner.

Adaptability:

Marketing is a dynamic field, with new best practices, tools, and standards appearing on a regular basis. Furthermore, marketing teams are frequently faced with tight constraints and may be allocated last-minute assignments or have their priorities shifted without warning. A good marketer will thrive in this fast-paced atmosphere and be able to adjust to changing conditions quickly.

Research:

You’ll need to research as a marketer to develop campaigns, inform strategy, and create content. This research could include investigating competitors’ marketing activities, learning more about a topic related to the services or goods your company offers, or compiling a network of contacts in a particular industry. Knowing how to conduct effective research from reliable sources is a valuable skill that will improve the quality of your work.

Social Media Marketing:

Using more well-known platforms like Facebook and LinkedIn, as well as smaller emerging media platforms like Rumble, Odyssey, TikTok, WarriorPlus etc., continues to be one of the most effective ways for businesses to reach out to their customers via social media. Modern marketing requires understanding how to adapt a brand’s voice and messaging to social media and engage organically with your audience.

Build something 100 people love, not something 1 million people kind of like.— Brian Chesky

Summary

marketing strategy is a company’s entire game plan for attracting prospective customers and converting them into clients
e-marketing strategy promotes your business and makes your sales efforts more effective.
Look up information on your competitors.
4ps of marketing; Product, Price, Promotion and Place
Modern marketing requires messaging on social media and engaging organically with your audience.

4.09 Email Marketing Expertise