When time comes to grow/expand your business, a single misstep can cost you time, efforts, money, and reduce your chances of success. The main question and confusion is how to choose the best marketing strategy for business growth to help businesses move up and to the right escalation.
Knowing where you want to be in the competitors, there are certain methods businessman must use for implementing a growth strategy and this article is designed to help you explore the best marketing tactics for any business situation
Following are the list of best marketing strategy to boost business:
1] Understand the need of customer:-
It helps you to understand exactly what they are thinking and want at each stage of their purchase journey
2] Study customer trend:-
Overview of the market, analyzing market data, demographic consumption patterns within the category, and find the key consumer trends driving consumption
3] Use convenient channels to reach customer (Facebook, YouTube, Linkdn etc.):-
To reach customer organization can reach customer through following various channels:
1] Start Blog
2] Ask for Referral
3] Write Survey or Poll
4] Demonstrate and maintain customer relation through email, telephone, letter etc.
5] Connect through social media
7] Use Testimonial
8] Feedback etc.
4] Focus on product designing and packaging:-
Product designing and packaging should be attractive, informative including all required details.
5] Decide marketing strategy:-
Identify customer needs, trend and consideration need to formulate effective marketing strategy which helps you define your vision, mission and business goals, and outlines the steps you need to take to achieve these goals through advertising, promotion and different convenient channels.
6] Make price strategy:-
Decide best price strategy after consideration of:
1] Cost structure and profit ratio
2] Analyzing competitors price
3] Determine price sensitivity
4] Consider value proposition like brand strategy, distribution channel, marketing campaign etc.
5] Consider customer psychological effect
7] Fix services you are going to provide:-
After analyzing the market trends and competitors services, fix the services you are going to provide and ensure to the customer
8] Measure qualitative and quantitative result:-
Measure qualitative and quantitative results after completion of each phase, so that we will get idea whether we are on right track or deviating from the track. As per the result you can change the plan accordingly
9] Review, monitor and control:-
In this, you can review, monitor and control the process do make effective and efficient