How An Effective Marketing Strategy Can Help Your Business Grow!

Having the right marketing strategy can be a make-or-break factor that determines the growth and success of your business. To be more precise, an effective marketing strategy can help your business grow in many ways. 

Understand your target market
An effective marketing strategy provides you with a clear understanding of your target market, which is important to determine what marketing communications are most effective. With accurate profiling and segmentation, you can build an effective strategy that caters to their needs and wants, and effectivly attract new customers.

Know your competitors
Having an extensive marketing strategy will help your business understand your competitors and essentially helps you understand the playing field. Knowing what your competitors do, their strengths and weaknesses can tell you how your business needs to improve and what advantages you can leverage against them. Build an agile business that is always ready to face challenges and adapt to the changing market environments.

Improve your business performance
External outlooks should be complemented with a thorough internal assessment of your performance to truly reflect your position in the market. This allows you to understand what you’re doing right and what marketing activities you can improve next month.

Effectively communicate your brand and key messages
Combining all key environment factors together into a SWOT (strengths, weaknesses, opportunities and threats) table can give you a strong view of your current marketing position, and what areas your business can improve. Ensure your business communicates the right key messages to the correct audience, using the right marketing tools.

Enhance your marketing tactics
Choosing the right channels and methods of communications is important in the implementation stage. To get the key message across, you should form a detailed, marketing tactics plan that is specifically tailored to your busines. From social media to search engine optimisation, the possibilities are endless! By having an effective marketing strategy, you can reach your target marketing and attract new customers.

Developing an effective marketing strategy is crucial for the success and growth of any business. While small and medium sized businesses might find the task to be difficult and challenging, a marketing strategy is not something business owners can neglect.

Fortunately, the Melbourne City Council is hosting a FREE Marketing Workshop this June. The Melbourne City Council is providing small to medium sized businesses of Melbourne City, Docklands and Southbank with a FREE Marketing Strategy Workshop, to provide your business with an extensive 40 - 60 page marketing strategy. Register today to secure a spot.

Event Details:
Date: Wednesday, 2nd of June 2021
Time: 4:00 pm – 6:00 pm
Where: Online Workshop
Cost: FREE
Register here