5 Components Of A Successful Marketing Strategy

online marketing strategy

The Essential Components of A successful Marketing Strategy

Before venturing into any business it is advisable to come up with a good marketing strategy. This will give you a direction because it covers every single aspect of all the business activities you will carry out. The problem with most people who venture into business world get intimidated wondering what they can do to come up with a successful marketing strategy. The following are 5 Essentials Components of a successful Marketing Strategy.

 

Come Up With a Good Mission Statement

You should not venture into business with an aim of making money but create a good reason for venturing into the business. You have to state the reason and your motive behind starting up the business. You should do this by coming up with a clear statement in written.

 

Come Up With a Clear Description of Your Business

You have to come up with clear details of your business aspect. Give a clear description of the products you intend to sell or the services you want to deliver. You should state the kind of business you want to start whether you are planning to sell some products or deliver some service to the society. Create a clear description of your business in order for the customers to understand what stands unique in your products compared to those ones of your competitors.

 

Consider Your Financial Status

You should look at the expenses that you will meet every month and compare them with your financial status. This will enable you come up with a good decision on whether you have sufficient cash to cover the costs or you will have the need to acquire a loan to cover some of the expenses.

 

Carry Out an Analysis about Your Competitors

Carry out an analysis on your competitors by identifying what they offer. Find ways on how you can do better than them if you want to stand competition. You should also be able to list down on who is likely to buy your products or services. This will enable you address customers’ needs hence creating a good marketing strategy for your business.

 

Identify Your Long Term and Short Term Goals

Identify clearly on what you want to achieve after long term or short term of your business. Long term goals include what you are likely to achieve after some years in your business through a good market strategy.

While short term goals include what you need to achieve after some few months, days or one year, for example acquiring a business license, getting office space and a proper business name.

The 5 Essentials Components of a Successful Marketing Strategy will give you direction on how you can prepare, start a business and run it with no difficulties. You should also think of getting the right means of advertising and marketing your business. You can try and maximize all the available avenues like Facebook, Twitter, Hi5, Zinzzchat, Meebo and many more, so as to create an awareness of your business to many people. You should also aim at building a good relationship with your customers.

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Jurgita Glodenyte

   

Jurgita Glodenyte

Jurgita Glodenyte is an online/digital & social media marketer, manager, strategist, consultant, trainer and public speaker. Her goal is to give companies she works with the tools to make them successful in a technology based economy. Jurgita has written a few books on digital marketing & social media.
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