The best marketing strategies aren’t lightning strikes — I always look at them as works in progress.
Marketers must constantly analyze their efforts for each marketing channel. Sometimes they take major steps forward. Other times, it’s back to the drawing board to start from scratch.
According to Wikipedia, Marketing strategy is a long-term, forward-looking approach to planning. It’s fundamental goal is achieving a sustainable competitive advantage. I like to ad to that definition. Bottom line, we are looking to increase sales and profits.
What’s your plan?
An organization’s strategy combines all of its marketing goals into one comprehensive plan. A good approach should be drawn from market research. It needs to focus on the right product mix in order to achieve the maximum profit potential and sustain the business. That strategy is the foundation of a marketing plan.
If you want to sell the right products at the right price to the right people with the right promotion and distribution methods, you need a strategy. And, you need a plan to see if it works.
In terms of the marketing strategy for direct mail, one of the top indicators is response rate. You need to track it. Consider an A/B split to test creative or offer. Think about key-coding each record on your mailing list with demographics so you can discern patterns in the responder group. When you see which groups respond best, you’ll know which ones to target.
In terms of search, continually review current paid search strategy. You need to adjust spending to maximize your market reach. Tweak your keywords, refine demographics, evaluate, and forge ahead. There are so many moving parts to a successful PPC campaign. Google algorithms change constantly and you need to stay on top of the curve.
In marketing, nothing stays the same. You will always need to keep an eye on your tactics to insure they remain current and responsive.
Direct marketing is known for its ability to provide advertisers with data. This is information you can use to move forward successfully. With analysis, careful planning and repetition, you’ll be able to craft sustainable, profitable marketing strategies.