When one develops a Marketing strategy there are 8 key steps to follow.
Step 1 – Situational Analysis: Understand the capacity of your organization, Perform SWOT analysis, Assess the market – when it comes to the Internet – what are your current strategies and how successful are they?
Step 2 – Target Customers – who are your target customers and how do they use the internet? what are the best forms to reach the customer? Social Media? Email? Banner Ads? Intermediaries such as ports?
Step 3 – Set Goals – Define the goals you want to achieve – what will be considered a "Success"?
Step 4 – Set Budget – Based upon this budget, can you achieve your goals? If not, you may need to revise the goals.
Step 5 – Clarify Position – The positioning statement for your product or service for your target audience is the cornerstone of a high-impact communications plan. Your positioning defines your unique point of difference to guide marketing communications to your target segment. It is not necessary how your target audience sees you today. It describes how you want them to see you.
Step 6 – Create Message – Once you have clear positioning for your product or service for your target audience segment, you are ready to draft your messages
Step 7 – Select Media – Determining the best way to reach your target customers can be challenging and time-consuming. With e-Marketing there are different media and opportunities – email, web 2.0, banner ads, affiliate marketing, etc.
Step 8 – Measure Impact – One of the most important elements of a successful marketing plan is identifying how to measure and report on the business and financial results of your plan. Measuring the results of your plan will tell you:
- How effective the marketing plan has been in achieving the strategic and tactical marketing goals.
- What areas within the plan are performing well or underperforming.
- What areas within the plan need a course correction during the plan period to help you achieve your goals.
- What actions or opportunities are suggested by the data.
With internet marketing, you can measure impact almost immediately – using a site like bit.ly can you give instantaneous response to tweets or other ways one may share a link to another site.
Understand your capabilities, target specific customers, develop the messages that create an impact – select the media – measure the impact. IF the impact is not good, change the message, use a different outlet, or scuttle the approach.
