How to Create a Marketing Strategy, Part 1
If you’re reading this, I know you have heard of marketing before…in fact, you’re probably actively working to market something, whether you are a small business owner or you simply have a side hobby that makes a little extra cash. The key element that so many people are missing, however, is a clear marketing strategy that gives a path forward for what to do and how to do it. Most of our marketing efforts involve wasted time, energy, and possibly even money, and a marketing strategy is the most effective way to prevent this from happening.
One of my main roles is to create a marketing strategy for clients, from a landscaping company to a local day spa to photographers and everyone in between. The hardest part is knowing where to begin, so I wanted to write a series addressing the how-to of creating an effective marketing strategy that will serve you for years to come.
The first step in creating a marketing strategy is looking back at what worked and what didn’t for your business. I created a free template for you to use as you work through this process, so download it now! Let’s break down what an actual business evaluation looks like.
First, write down a list of all the marketing you are currently doing. This can be print or online advertising, social media posts (don’t forget about Pinterest and YouTube!), blogging, podcasting, creating videos, and more. It could also include a newsletter or in-person networking, attending conferences, and more. Think about anywhere, whether online or in-person, that you have talked about your business on a consistent basis. Write this down - you might be amazed at all the marketing you’re actually doing!
Second, write down the approximate time you spent next to each element of marketing. I know you might not have an exact number, and that’s completely ok! Just give a good-faith estimate. Did you attend two one-hour networking events? Don’t forget to factor in drive time and add that up! Did you post 5 stories on Instagram per day for a month? How long did that take you? The purpose of this is to get a realistic picture for the amount of time per platform or opportunity.
Third, note next to each item whether or not you saw any direct business or referrals from that source. Just a note: I’m not going to ask you to abandon all marketing efforts if you haven’t yet seen business from a source. This is a great way to see your biggest time demands and how much they are paying off. If you aren’t sure whether there was direct business from, say, a Facebook post, write down a more measurable metric like engagement. Do your posts get crickets, or are people excited when they see content from you? How many readers are on your blog? When you went live on Facebook or Instagram, how many people watched and stayed until the end?
Now that you have looked over everything, you have a great starting point for the next steps in creating a marketing strategy…and don’t worry, that’s coming next week in part 2! I would encourage you to keep this list active and updated as you invest time and efforts into different channels. Start to notice what is paying off and what no longer seems like the best use of your time.
Get ready for the next steps - by the end of this series, your marketing strategy is going to be clear, effective, data-driven, and help inspire you to work hard in all the right ways!