You must have a detailed marketing strategy before you can progress to building a marketing plan which is equally as important. Chinese military strategist, Sun Tzu, wrote “The Art of War.” In it, he said: “Tactics without strategy is the noise before defeat.” Assuming you have a detailed marketing strategy, we will dive deeper into the importance of having a marketing plan.
A marketing plan is an important component. A marketing plan lays out your strategy for acquiring new customers and expanding your business. It’s easy to get off track and waste time and money on activities that don’t produce results if you don’t have a plan.
Although you can obtain a link from any website on the internet, the most important aspect is to try to obtain quality links from sites that are both relevant to your business and have a high authority.
There are several methods for determining the value of a link. Page Authority, Domain Authority from MOZ, and URL Rating are common industry metrics. These metrics use the quality and quantity of your links to generate a score. In general, the higher these metrics are, the higher you will rank on Google.
Here are some of the reasons why you need a marketing strategy:
1. To Identify your target market
An effective marketing plan will enable you to identify and understand your ideal customers, their needs, problems, and values, as well as how your product / service meets their needs or addresses their problems in a way that creates value, through market segmentation.
2. To identify and analyse your competitors
An effective marketing strategy includes identifying your competitors. Using the SWOT analysis, you can determine how to improve or augment your offering so that it compares favourably to your competitors’ offerings.
3. To define your unique selling proposition
An effective marketing plan requires the definition of how your brand, products, and services will be positioned in the market in such a way that your offering is unique and preferable in the eyes of your target customers in comparison to your competitors.
4. To measure ROI on your marketing
An effective marketing plan specifies specific and measurable marketing objectives, time frames, and activities. This ensures that you only invest in promotional activities that generate a positive ROI, such as promotional activities that correspond to your target market’s purchasing habits, and so on.
5. To define your targeting strategy
An effective marketing plan uses market research to map out a strategy for reaching your target audience, including messages, channels, and tools. Again, investing in marketing activities that do not support your defined strategy will be avoided.