Strategic marketing management helps companies monitor results of all forms of marketing efforts. From understanding how visitors arrive at company websites to determining the return of investment provided from print, radio, TV, and Internet marketing ads, having a plan in place is essential for growth and expanded online visibility.
Strategic marketing management is the driving force behind learning how to understand effectiveness of market communications and analyzing customer preferences. Taking time to develop a strategic plan can help executives improve profitability by integrating cohesive methods into their current business plan.
Written marketing plans are essential for documenting the company's goals and keeping ad campaigns on track. Companies that advertise in print, radio, TV and online are required to meet advertiser deadlines and comply with terms of service.
Developing advertisements often demands countless hours of design; especially for videos or infomercials. Once ads are developed they need to be implemented and tracked to determine their effectiveness.
Strategic marketing also encompasses external analysis of the business. While most owners prefer to review successes, it's also important to analyze weaknesses and failures. Doing so provides insights as to what needs to be changed to produce better outcomes.
It's also smart to analyze the strengths and weaknesses of competitors, along with industry threats that could jeopardize marketing efforts. Threats can encompass competitors, market trends, and external forces that affect the way a company conducts business such as government regulations or economic issues.
Companies that engage in Internet marketing need to become educated about FTC regulations, privacy laws, childhood safety protocol, and disclosure policies. Websites need to be WC3 compliant to make web pages accessible to individuals with disabilities and for those who work on mobile devices.
The majority of business owners find it beneficial to work with an online media marketing consultant. Professionals can provide guidance regarding the different types of online marketing strategies and how to integrate multiple strategies into business plans.
Online marketing is an entirely different ballgame than other forms of advertising. Numerous elements are involved with this platform including search engine optimization techniques, copywriting, coding, and design.
There are numerous approaches for integrating online marketing strategies. Some of the more popular include: online videos, podcasting, article marketing, link building, local listings, mobile marketing, and social media marketing.
Combining multiple strategies helps companies reach goals more efficiently, but demands careful planning to ensure tasks are completed in a timely fashion.
It's best to stick with the foundations of marketing when developing strategic plans. These include: TLC - Think Like Customers; CMSQ - Critical Marketing Strategy Question; and STP - Segment, Target, and Position.
In order to sell to customers, it's vital to think like customers. Selling also involves market research to determine what consumers want and to stay abreast of market changes. Incorporating TCL into business plans can help companies outperform competitors and increase profitability.
CMSQ requires companies to assess why customers would buy from their company over competitors. While this may sound quite simple, many companies find it challenging to provide two or more reasons as to why their product or service is better than the rest. Companies that figure it out can dominate their niche by instilling confidence in consumers and clients.
STP has been considered the primary building block for several decades. It involves market segmentation that helps companies determine selling approaches. Understanding competitive strategies and target markets helps companies determine their positioning strategy.
Developing a solid strategic marketing management plan can be simplified by working with professional marketing consultants such as Online Marketing DNA. We provide private consultations to assess current strategies and determine which online marketing techniques are most appropriate for the business model.
OMDNA provides a variety of Internet marketing strategies including: SEO web design, SEO marketing, online video marketing, lead generation, local listings and maps, and VIP business coaching.
We invite you to review our products and services, along with our online marketing videos. At present, we have a few spaces available for serious business owners that are ready to become fully immersed in web marketing.
Tags: Foundations of Marketing, Internet Marketing, Online Marketing, Online Marketing Videos, Online Media Marketing Consultant, Strategic Marketing Management, Strategies
Published on September 28, 2011