7 Steps to Create a Complete Marketing Strategy in 2023
Creating a marketing strategy is essential to effectively nurture your customers, improve the bottom line at your business, and increase the ROI of your efforts.
A marketing strategy is especially critical if you want to leverage the highest-ROI trends for 2023: short video, influencer marketing, and branded social media. To get powerful results, you must carefully weave both emerging trends and proven strategies into your plan.
Let’s dive into the critical components of a complete marketing strategy in 2023, followed by some examples for inspiration.
A marketing strategy is a detailed, structured plan of a company’s promotional efforts across a wide range of platforms and channels. A marketing strategy typically includes objectives, target audience profiles, content creation steps, key performance indicators, and other components.
A marketing strategy will:
- Align your team to specific goals.
- Help you tie your efforts to business objectives.
- Allow you to identify and test what resonates with your target audience.
- Empower you to capitalize on emerging trends.
The last one is especially important for this upcoming year. Keeping up with marketing trends is important for your strategy, but could be a full-time job. What worked for your marketing strategy in the past might not fly today.
To succeed in the fast-paced marketing world — and maintain a sense of relevance with your audience — it’s vital to stay ahead of the curve.
7 Steps of a Marketing Strategy Process
1. Build a marketing plan.
Wait, I have to make a plan for my strategy? What’s the difference?
Your marketing strategy provides an overview of the reasons why your marketing team will need certain resources, take certain actions, and set certain goals over the year. Your marketing plan is the specific actions you’ll take to achieve that strategy.
The right template can help you build a marketing plan that identifies your budget for the year, the initiatives your marketing organization needs to tackle, and the marketing channels you’ll use to implement those initiatives.
Plus, it’ll tie everything back to a business summary, to keep you aligned with overarching company goals.
2. Create buyer personas.
If you can’t define who your audience is in one sentence, now’s your chance to do it. A buyer persona is a snapshot of your ideal customer.
For example, a store like Macy’s could define a buyer persona as Budgeting Belinda, a stylish working-class woman in her 30s living in a suburb, looking to fill her closet with designer deals at low prices.
With this description, Macy’s Marketing department can picture Budgeting Belinda and work with a clear definition in mind.
Buyer personas have critical demographic and psychographic information, including age, job title, income, location, interests, and challenges. Notice how Belinda has all of those attributes in her description.
You don’t have to create your buyer persona with a pen and paper. In fact, HubSpot offers a free template you can use to make your own (and it’s really fun).
You can also use a platform like Versium, which helps you identify, understand and reach your target audience through data and artificial intelligence.
Buyer personas should be at the core of building your strategy.
3. Identify your goals.
Your marketing strategy goals should reflect your business goals.
For example, if one of your business goals is to have 300 people attend your annual conference in three months, your goal as a marketer should be along the lines of boosting online registration by 10% at the end of the month to stay on track.
Other marketing goals might be to increase brand awareness or generate high-quality leads. You might also want to grow or maintain thought leadership in your industry or increase customer value.
Whatever your goals, identify what they are and how your marketing organization can work to achieve them over the next year.
What to Expect After Following Your Marketing Process Steps
Ultimately, creating a complete marketing strategy isn’t something that can happen overnight. It takes time, hard work, and dedication to ensure you’re reaching your ideal audience, whenever and wherever they want to be reached.
Read the full guide on our partner HubSpot’s blog.
Need help with your marketing strategy? Contact Us today to learn more about how Goose Digital can help.