What is a Marketing Strategy? Explained in Simple Words

Posted 12 months ago by Max Komonov

Marketing is听arguably one of听the听most important facets of听any听ecommerce shop鈥檚 success. With a听solid marketing strategy in听place, a听business can boost brand awareness, build customer loyalty, and听drive sales online.

The strategy a听business uses to听engage and听connect with its target audience is听foundational to听its success. You may be听thinking, what is听a听marketing strategy, and听how can an听ecommerce business create one from scratch?

We鈥檙e here to听help! This post will discuss the听details of听a听marketing strategy and听how to听create one using your company鈥檚 unique goals and听values. Then, we鈥檒l break down how ecommerce shops can leverage their marketing strategy to听build a听compelling brand online.

Defining Your Marketing Strategy

A听marketing strategy is听the听approach and听guide for听how a听business promotes its products, services, and听offerings to听its target audience.

An听effective marketing strategy should encompass the听primary ways a听company engages with its audience, communicates its values, and听how it听drives sales.

When creating a听marketing strategy, a听business should clearly identify:

Who the听target audience is
How to听position itself as听a听brand
The company鈥檚 values and听mission
What the听goals of听the听company are

A听marketing strategy is听often used synonymously with a听marketing plan. This term refers to听the听nitty gritty details and听individual processes, steps, and听tactics that a听business will leverage to听achieve the听goals listed in听its marketing strategy.

So, how does an听ecommerce business go听about creating a听marketing strategy? Let鈥檚 dive in.

How to听Create a听Marketing Strategy

Here are the听steps to听follow to听create a听marketing strategy that drives growth and听success.

1.听Define Your Goals

The goals for听your marketing strategy should align with your company鈥檚 overall goals, whether that鈥檚 driving sales, establishing your brand online, or听growing your customer base.

Many companies find success in听defining goals by听using the听SMART framework, which includes the听following:

Specific: Be听concise and听clear with the听goals you鈥檝e defined within your strategy. This could be听things like 聯Grow our social presence on听Instagram, X,听and听Facebook聰 or听聯Build our email list through a听targeted lead generation campaign.聰
Measurable: Determine which metrics and听criteria you鈥檒l use to听measure success. This could be听the听number of听email addresses you gather on听a听web form, social growth of听200%, or听total conversions on听your website.
Actionable: Map out the听actionable steps that are necessary to听take to听achieve your goals. This includes the听tools and听platforms you鈥檒l use to听track performance and听success.
Relevant: Consider the听overarching goals of听the听company as听you map out the听goals within the听marketing strategy to听ensure the听two are aligned.
Time-bound: Create clear deadlines which will help the听team stay focused on听their tasks and听fuel urgency.

2.听Know Your Audience

Perform thorough market research to听understand who your is, where they exist online, and听their current pain points.

A听marketing strategy involves the听target audience in听nearly every way, so听be听sure you understand your audience and听the听market as听a听whole. This will allow you to听fill in听the听gaps and听provide a听solution.

3.听Create Brand Messaging

Once you understand your goals and听your target audience, it鈥檚 time to听craft brand messaging that accurately conveys your mission, values, and听what your business is听all about. If听done right, it听will set your business apart from the听competition and听attract your target audience.

Consider the听tone of听voice and听the听language you use to听convey the听message. Is听your brand formal and听professional, or听casual and听funny?

Using appropriate language as听you carve out your messaging will ensure the听tone of听voice aligns with the听overall feel of听your brand.

4.听Identify Marketing Channels

List all the听marketing channels where your brand exists and听any听new ones you鈥檇 like to听explore. These include your website, social media platforms, newsletters, third-party channels, paid ads, partnerships, and听more.

These channels are where you鈥檒l set your strategy in听motion听鈥� how you鈥檒l interact with your audience, promote your products or听services, distribute content, and听build an听authentic brand.

5.听Establish Your Budget

Knowing the听budget for听your marketing strategy is听critical听鈥� it听allows you to听properly allocate funds to听different tools you鈥檒l need to听succeed, outsource support as听needed, and听run ad听campaigns.

If听you鈥檙e just getting started with a听smaller budget, focus your funds on听a听few tasks to听start and听scale up听as听you generate success.

6.听Monitor and听Evaluate Performance

Measuring what you market is听another critical step in听any听marketing strategy. It听helps you understand what tactics are working and听what needs to听be听reworked.

The best tools to听help monitor and听evaluate campaign performance include Google Analytics for听your website, Google Search Console for听organic traffic performance, and听Google Ads for听paid ad听campaigns.

What is听an听Ecommerce Marketing Strategy?

An听ecommerce strategy is听designed specifically to听drive traffic to听an听online store.

Promotional tactics used in听an听ecommerce marketing strategy will convert traffic into customers and听foster long-term customer loyalty.

The Best Ecommerce Marketing Strategies for听Your Business

There are so听many strategies and听approaches an听ecommerce business can use to听promote its products, drive traffic, and听boost sales on听its website.

Here are some of听the听most compelling ideas your business can try.

Collaborate with influencers for听brand awareness
Sell on听marketplaces like Amazon or听eBay
Utilize AI听chatbots to听engage with customers after hours
Leverage user-generated content to听promote products authentically
Build a听customer loyalty program to听reduce churn
Create professional videos to听showcase your products
Craft compelling, informative content to听distribute through your blog or听social media
Launch email campaigns offering discounts, deals, and听promotions for听subscribers

FAQ: Creating Marketing Strategies

Get all your questions about building a听marketing strategy answered here.

What are the听4听types of听marketing strategies?

The four core types of听marketing strategies include the听following:

Market penetration: This strategy involves placing an听emphasis on听increasing market share in听your industry through tactics like competitive pricing, adjusting product quality to听align with your audience鈥檚 expectations, and听improving distribution to听meet the听demand of听customers.
Market development: Expanding into new markets (new locations or听demographics) or听drilling down on听certain niches to听grow a听company.
Product development: Creating new products or听modifying an听existing offering to听better meet the听market鈥檚 needs and听become more competitive.
Diversification: Entering new markets and/ or听creating new products to听target new audiences, or听offering existing customers something entirely different.

Which marketing strategy is听most effective?

In听our considered view, the听most successful marketing strategy is听one that remains fluid, eschewing reliance on听any听singular tactic. A听blend of听social media, email marketing, and听pay-per-click advertisements may yield the听greatest returns for听your business.

In听the听ecommerce setting, many brands experience a听high ROI when partnering with influencers to听raise awareness about their products and听generate more site traffic. Others leverage SMS marketing throughout the听buyer journey, which has a听staggering .

Whatever you decide on, SEO is听a听critical component of听any听marketing strategy to听rank higher in听organic search results on听sites like Google and听Bing.

Why is听a听marketing strategy important?

Simply put, an听effective marketing strategy will help a听business reach its target audience. Without a听strategy in听place, your business will operate by听trial and听error, which can be听expensive and听time-consuming.

Successfully Market Your Brand with 黑料门

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About The Author

Max has been working in the ecommerce industry for the last six years helping brands to establish and level-up content marketing and SEO. Despite that, he has experience with entrepreneurship. He is a fiction writer in his free time.

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