How to identify a marketing strategy

10 replies
How do you identify and implement a strategy/

I know as far as using social media, blogs, websites and advertising links.

IS there other ways in identifying new strategies?
#identify #marketing #strategy
  • Profile picture of the author jazbo
    Look at what the people making money in the niche are doing, reverse engineer it.
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  • Profile picture of the author EPoltrack77
    Do what is working for successful people. These are all good ways. See what the top players are talking about and keep up and you can maybe identify something as it is coming.
    Working to achieve higher results...
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  • Profile picture of the author Antony Micheal
    Strategies generally fall under one of the following (or in some cases more than one) ideas:

    1. Market growth (see ansoff matrix)
    - Higher market penetration
    + Sell more to same market (i.e., get current customers to buy more or buy more frequently)
    * If overall market is growing this may not necessarily mean a growth in overall market share
    * If overall market is not growing this means a growth in overall market share
    - Find new markets
    + Sell to markets or market segments not previously targeted
    - Develop new products for existing customers
    - Develop new products for new customers

    2. Market stability
    - Techniques to keep the status quo
    + Primarily used in times of economic decline or market decline
    + Generally requires the taking of market share from others in the industry

    3. Cost control
    - Techniques to contain costs or operate more effectively
    + Can work in combination with market growth or market stability

    4. Market Exit
    - Techniques to depart a market
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  • I think the question would be is to determine who your audience is. This will be the main point of your marketing strategy and will be able to help on choosing your approach. The buyer persona is always your main consideration and how you reach them.
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  • Profile picture of the author yukon
    Look for webpages that have people asking to buy a product.

    Example, this video has comments from viewers interested in buy the portable solar panel/battery setup.

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  • Profile picture of the author opensourcenetork
    In my case, I would probably assess where my company is currently standing and determine my goal or where do I want to be in the future. This is entrepreneurship so it is imperative to know your target audience, how you reach them and look for external opportunities.
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  • Profile picture of the author wodonga park
    It is said that a good marketing technique is to have a plan for every level of client you have. If you know the viewer's buying journey and can capitalize on it, making them aware and decide on choosing your product. That should already be a great marketing plan.
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  • Profile picture of the author ocomok
    For me, I still rely on the old method of experimenting. If I have already placed a marketing strategy that I have made and if I do not get the results that I have planned to get I will need to rethink the strategy and adjust accordingly. There is no foolproof way to succeed in marketing, you just need to be patient and be willing to try again.
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  • Profile picture of the author James Clifton
    Basically, marketers implement a strategy in accordance to their business goals and needs. Remember, the root of a marketing success is efficient analysis. Once you gain a better understanding of your aims and you evaluate all the factors that can come across your way as a marketer, you would be able to identify and implement the best strategy for your business.

    In addition to that, using market analysis tools can also help you gauge whether your marketing strategy is effective or not. Some of the factors you need to consider include market stability, growth and cost control.

    Hope this helps & Good luck on creating a marketing strategy!
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  • Profile picture of the author Dileepa92
    A big thank you to all. I have so much good advice on here. I have another question - when is the best time to create/buy your product(s)? I was thinking before I make my website/shop..
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