CapitalPitch Blog

Three Pillars of a Successful Marketing Strategy

[fa icon="calendar"] 08/11/2017 10:00:00 AM / by Guest Blog Submission

By Francis Sabutey

It never ceases to amaze me how so many small businesses are still committing elementary mistakes in their marketing efforts, because they have lost sight of the three key pillars of a successful marketing strategy. Blinded by dazzling buzzwords and technology, many small business owners think they can just tweet or Facebook a post, and get it right in marketing. 

Wrong!

That’s where many of them are missing it. Success in marketing will always come to the basics no matter the kind of business you’re running. There are pillars upon which marketing is built upon. These pillars stand regardless of the industry you’re working in.

Basically, there are three pillars of a successful marketing strategy:

  1.  Understanding Your Target Market
  2.  Developing Your Target Market Profile
  3.  Maximising Your Target Market Profile 

 

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Pillar 1: Developing Your Target Market

This is the first pillar of a successful marketing strategy that every small business owner must know. It helps you to understand and determine your target market. There are three key determinants of your target market:

  1.  The demographic model of your customers
  2.  The pyschographic model of your customers
  3.  The geographic model of your customers

The Demographic Model of your customers defines who your customer is. It helps you to have a clear picture of who your customer really is.

It might come as a surprise that many small businesses have been in operation for years, yet still have no clue who their actual customer is. No wonder their marketing, sales and customer services are below average! They complain about their customers becauase they don't know them.

So, you have to know who your customer is. You have to know their age, occupation, marital status, social status, family size, financial level, and their standard of living. When you know who they are, it makes it easy to relate, engage and connect with them - leading to a greater chance at continued sales!

The Pyschographic Profile of your customers defines why they purchase products. Customers don't just buy for buying sakes. Every customer buys for a reason, and it is your job to know why they buy your products and services.

The basic reason your customers buy from you mainly stems from their wants, needs, fears, problems, perceptions, attitudes, core beliefs, opinions, expectations and inferences. To develop a successful marketing strategy that converts and generates leads progressively, you have to know the exact reasons your customer buys from you!

The Geographic Model of your customers defines where your customer can be found, and helps businesses place relevant localised advertising to ensure their budget is spent efficiently. 

 

Pillar 2: Developing Your Target Market Profile

Once you have a preliminary understanding of the demographic, pyschographic and geographic profiles of your customers, you can conduct market research to further inform you. 

The more information you can gather about your customers, through forms, questionnaires and surveys, the easier it will be to engage with them more authentically going forward.

Once you use the first pillar of a successful marketing strategy to research, analyse and define your customer, the next step is to develop your Buyer Persona, or, Ideal Target Market Profile. Write a description of your ideal customer - the buyer your products or services are perfect for!

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Pillar 3: Maximising Your Target Market Profile

Once you have developed your buyer persona, you can use this information as the basis of all future marketing decisions and strategy. This core understanding will inform you of the most applicable and relevant forms of marketing, to maximise your chance of reaching your target audience. Whether that be through social media, email marketing, or traditional forms of advertising, this insight will help you understand and connect with consumers.

As you execute your marketing strategy, be sure to analyse consumer response to your materials. Find out what resonates and gear your promotional measures towards the most engaged pieces of content.

This is where marketing success shines - your marketing generates sales for you, and helps to grow your business. 

 

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About the author:

Francis Sabutey Is the Founder And CEO of Think Expand Limited, a digital marketing and business development company in Ghana. He is a digital entrepreneur, digital marketing & business blogger, digital strategist & trainer, content writer and an author. His core value for delivering his professional services is simply delivering “excellence on time!”

You can follow his blog at expandgh.com, connect via LinkedIn or Facebook.

Topics: Startup, Sales & Marketing, Marketing