Marketing Strategy

In this new, internet-centric age of ours, it seems that everyone and their mother has some type of online business that they are trying to get off the ground and into the vast realm of cyberspace. Being a successful e-commerce entrepreneur, however, is another story entirely. What many fail to realize is that an online business is just that – a business – and it requires time, effort and strong commitment to get it to the point where it will reap the rewards of profit. If you ask any successful industry mogul, they will tell you that the secret to a prosperous online (or offline, for that matter) business venture is the implementation of a sound marketing strategy. To clarify, it may first help to define the term “strategy,” which refers to a comprehensive, methodical approach to implementing a plan. In regards to marketing, the “plan” refers to the Marketing Plan, and the “strategy” consists of the ways in which the actions of the plan will be brought about.

Now, if you’re reading this, and you just so happen to be one of those aforementioned, hopeful Internet impresarios, perhaps you are asking yourself the question, “What is my marketing strategy?” and your mind is drawing a blank. Well, my friend, it seems you have a long road ahead of you! No need to fret, however. Just grab pen and paper, have a seat, and ask yourself the following core questions that will help you on your way to determining exactly what your marketing direction should be…

1) Can you define your target audience?

In other words, who are you selling to? What is your niche? If your product is cosmetics, for instance, then your target demographic may be females in general. But you need to break it down further. When attempting to define this group, take into consideration things like geographic locality, age, and areas of interest (i.e., Las Vegas versus Washington DC, or 20 year olds versus 50 year olds, flashy show girl versus conservative businesswoman – you get the idea). The reason for this is simple: the messaging of your particular product may differ greatly from group to group. For simplicity’s sake, try and keep the count to ten or under, but if the need is there, then it will work in your favor to have more of them, rather than lumping together unrelated target groups.

2) What is the message that you want to convey to your target audience?

Now that you’ve defined your groups, how are you going to position yourself in front of them? You need to figure out the best possible way to “speak” to each target group in such a way so as to make an impact. The young, trendy 20 year old may be on the lookout for glitter mascara, while the more mature 50 year old may be in search of an effective makeup to conceal wrinkles. You must configure your messages and convey them in ways that appeal to each of those specific groups.

3) What, specifically, do you want to sell to each of the groups defined in your target audience?

In this particular scenario with the cosmetics, the answer is fairly simple. The products described above serve as perfect examples – items designed for mature skin are for older women, while glitter-infused products will definitely appeal to the younger set. If your product or service has some indistinct boundaries, however, you may need to determine what your priority offerings are for each of your groups before you can move forward with the implementation of your marketing plan.

Once you have answered the above questions, you will no doubt realize that your answers are invaluable when it comes to clarifying your purpose and defining your overall marketing strategy. Use this information to create a detailed marketing plan, and you’ll be well on your way down the path to inevitable success