MARKETING STRATEGY DEVELOPMENT

For good or bad, many of us are living in parts of the world where the pace is much more accelerated than only a generation ago. Our daily workload is commonly far more weighty than it used to be and our free time is filled to the brim with activities and things we "must" do.

More over, we are recipients and senders of about 20 times more information, advertising and marketing attempts than we were only 20 years ago: more TV channels, more radio channels, more newspapers and magazines. Telephones in every room, in the car and in your pocket are making sure that you always are available. We have e-mail and Internet, more billboards, office PMs, direct mail, sponsored events, newsletters, etc, etc.

PEOPLE DON'T HAVE TIME

The problem is that since we still only have 24 hours per day at our disposal, each piece of information, advertising or marketing effort is getting a smaller and smaller "exposure window".

Your target individuals don't have the time to consume and digest information as they used to have, and to avoid being drowned by the floodwave of information, people have developed an "automatic selector" that simply dismisses all information that isn't standing out from the rest or in any other way is effortlessly and conveniently absorbed.

THE MARKETING STRATEGY - DO OR DIE

Therefore, the marketing and advertising strategy is far more important than the strategy for the actual service or commodity you are marketing.

It doesn't matter how superior your product is. Without a carefully crafted marketing communication strategy that opens doors and makes prospective customers interested, your otherwise excellent business idea will never reach its full potential. At best, it might give you a passable return on the investment.

THE CHARASTERISTICS OF THE STRATEGY

A sound, effective marketing or advertising strategy is based on analyzes of data from your own experiences, external sources and thorough market research. It is brief, transparent, precisely defined in everyday language and free from cryptic marketing expressions. Anyone in your organization must be able to understand it without uncertainties.

In short, the marketing or advertising strategy usually describes common demographic denominators of your target customers: e.g. age, sex, religion, education, profession, plausible hobbies, social status, interests, etc.

It sums it all up in an action plan "When, How, and Where to do it" that might e.g. include the channels you need to use (and excluding others), or if your approach should be humorous, aggressive, grave or downright boring to achieve maximum impact. Actually, it might even suggest you to cut the advertising budget in half and employ staff instead.

THE NOBLE ART OF PERSISTANCE

Finally, when you have a solid, fastidiously produced marketing or advertising strategy, stick to it for a long period of time without exceptions. Because it's the persistence and continuity that will make your strategy thrive and produce your reward.

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