21/01/2023
Steps of Marketing ✨
1. Market research: Start by researching your target audience. Look for patterns in your current or intended customers’ demographics and interests. Identify the needs they have that you can address.✨
2. Competitor Analysis: Analyze social media, other businesses’ case studies, and your customer surveys to perform some fundamental market research. Find out what companies, products, features, and ideas are trending in your space. Then, think about how you can leverage those trends or subvert them.✨
Using our framework, you can run a competitive analysis as you evaluate your market. Build a list of similar-sized companies with products or services that compete with yours. After that, take note of their business practices, marketing tactics, and target audience.✨
3. Identify Target Audience: Trying to promote your product or service to everyone can be costly and ineffective. Grouping or segmenting your potential customers based on certain characteristics will help to focus your marketing efforts.✨
Generally segmentation is based on factors such as: Geography, Demographics, behavior, etc
4. Set goals and objectives: Marketing goals will help you to define what you want to achieve through your marketing activities. Your goals should be SMART: specific, measurable, attainable, relevant and time-based.
You will also need to allocate a budget to your marketing activities. ✨
5. Define specific strategies: Brainstorm projects that match your marketing goals and strategy. For example, if you want to increase your social following, you’d plan a social media campaign. Break those projects into tasks, and plot them out on a marketing calendar. ✨
6. Determine evaluation methods: After you wrap up that project and give it time for your audience to react, evaluate its performance. These resources can help you evaluate your return on investment (ROI) and analytics.✨