A good marketing strategy is crucial for your business. It’s your masterplan to reach your target audience and turn them into customers. It’s a document that lays out your course to achieve your organisational objectives. It lays down your brand core values, voice, target personas, and other high-level information. Ultimately, your marketing strategy will assist sales to get the company where you want it to be in 1year, 3 years or 10 years from now.
In today’s digitally-oriented world, it can make or break your success. Just like any endeavor, you won’t succeed with a poorly-done strategy. There is no cutting corners or quick fixes – developing a marketing strategy takes time – must be done thoroughly – with all of business aspects in mind. If you’d try to cut corners, the overarching result is a decrease in revenue and income. Here are the reasons why:
Failure to Reach Target Audience
A bad marketing strategy doesn’t clearly define the target audience. You explore your prospects pain points, needs and were not able to seriously address how your product or service can help. You can’t create a long-term content marketing strategy that will attract the right people if you don’t spend some time mapping out the customer journey.
A bad marketing strategy leads to confusing messaging. People who followed you in the past will be disinterested now since you’re not adding value. A poor strategy leads to mixed content and confused buyers. it will result in high unsubscribe rates or low open rates. Customer retention won’t happen.
A solid marketing strategy, on the other hand, will produce super-informative, highly-relevant and valuable resources that help the prospect along the customer journey. Failure to strategise will produce low organic reach in search engines, low conversion rates from your landing pages or email marketing efforts and generally, won’t get you very far. Your online discoverability will be low and business outlook, negative.
Without clearly establishing your target audience, their pain points and mapping out their customer journey, your marketing won’t be competitive.
We have established that a poor marketing strategy produces an unclear buyer’s journey. You won’t be able to layout the roadmap, the goal and measure success. You can’t backtrack and analyse where you lost your prospects along the way since there’s no objective point to base metrics from. Your bounce rates will be high because your content marketing doesn’t have clear call-to-actions and doesn’t lead to more related content. Basically, you are marketing blindly to everyone or in other words, bad marketing may reach an unqualified audience, which ultimately won’t get you any conversions.
Demotivated Marketing and Sales Team
A poor marketing strategy will produce low sales performance. Goals will not be met because they’re not clearly defined. The sales team will be compelled to produce sales but will have a lack of coordination and strategy. There will be an absence of team synergy, poor centralised database, lack of performance analysis, and small team satisfaction. An unsupported sales team will then result in low morale and high rates of resignation.
To sum up,
The marketing strategy is a crucial component of your business. It will make or break you. Plan it wisely. Work on it strategically. Tap the experts. Get a consultation from a specialist. Invest in your team. As you invest in building a good marketing strategy, you’ll have a higher chance of succeeding in business.
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