As tragic as it seems, marketing slogans and taglines have worked their way into our lives, to the point where many of us find ourselves quoting these famous slogans; from Snickers utilizing our obsession with Mr T and telling us in no uncertain terms to (and I quote) ‘Get Some Nuts’ to Tesco telling us that ‘Every Little Helps’ and Coco Cola signifying the start of Christmas with their famous Coco Cola lorry. The connection that we as an audience have with these brands is unprecedented, and while small businesses may believe that this kind of exposure is out of their league – a marketing strategy is still very important, and could prove very fruitful.
So why is a marketing strategy important? The answer is simple, it helps you to understand your business and your target audience, working and developing channels to pinpoint the best way to target and appeal directly to them. For many businesses the thought of planning and writing up a marketing strategy is a scary one, but one that is a lot easier than you first imagined. So grab your pens as I’m about to give you a little crash course.
Step One: Understanding
While Red Bull is flying high as a leading supplier of great-tasting (oh, how I lie) energy drinks they once must have started out as a small company – they must have! But how did they get so big and how did they suddenly stand out from other energy drinks? The answer is simple – they took the time to come up with a marketing strategy and they did it well.
By understanding their target audience they could then see their business through the eyes of their customers. This helps them identify what their customer wants from the product and the reason for the purchase. And for many of us, it’s not the great taste, no. It’s the irresistible allure of having a boost of energy giving you the sustenance to keep going. They could have gone down numerous routes, but to stand out from the crowd, they made this their unique selling point and came up with their marketing tagline ‘Red Bull Gives you Wings”.
Why does this work? It works because it’s short, memorable and completely different. After all, Red bull gives you energy doesn’t really have the same ring to it does it? Think outside the box, and think about why your target audience needs/wants your product and think about how you can make your product a phenomenon.
Step Two: How?
Obviously this is going to be different for each company, but you need to sit down and look at all the marketing tools at your disposal, and assess which ones your target audience would use. It doesn’t matter if you want to try new and exciting things, if your target audience is not going to use it or be open to that type of marketing then it’s not going to work and it’s going be an unnecessarily drain on your finances. So be shrewd and make sure you know your audience and the tools at your disposal.
If done correctly, a marketing strategy can build brand awareness, increase sales conversions and engage with your target audience.