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What is your approach to creating a new marketing strategy?

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Creating a new marketing strategy can be a daunting task, especially if you have to face a competitive market, a changing customer base, or a limited budget. However, with some creative problem solving skills, you can turn this challenge into an opportunity to stand out from the crowd and deliver value to your target audience. In this article, we will share with you our approach to creating a new marketing strategy in six steps.

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Israel Olaniyan LL.B., B.L.

Poet || International Development Consultant || Senior Creative Writer || Secured $3.5M+ in Grant Funding || Keynote…

1 Identify your goal

Before you start brainstorming ideas, you need to have a clear and specific goal for your marketing strategy. What are you trying to achieve? Who are you trying to reach? How will you measure your success? Having a goal will help you focus your efforts and align your actions with your desired outcome. You can use the SMART framework to define your goal, which means it should be Specific, Measurable, Achievable, Relevant, and Time-bound.

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Israel Olaniyan LL.B., B.L.

Poet || International Development Consultant || Senior Creative Writer || Secured $3.5M+ in Grant Funding || Keynote Speaker || Policy Research Strategist || Pan-African SDGs Advocate
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Marketing is a crucial aspect of business success and market penetration. In my experience, the very first step is to have very clear marketing objectives. You want to define specific marketing objectives, such as expanding market share, enhancing brand awareness, or launching a new product. You must clearly outline targets, identifying what the strategy aims to achieve. Next, you must ensure that your goals are S.M.A.R.T. Specific, Measurable, Achievable, Relevant, and Time-bound, creating a solid foundation for the marketing strategy.

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Asia Kitaichik

CEO at Yes We Can Agency | Digital Marketing Expert | Creativity for Good
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I cannot underline this enough while working with clients: Aligning your marketing strategy with your business goals is a critical starting point. This ensures that your marketing efforts contribute to the objectives of your business. Begin by clearly understanding the goals of your business. These could be related to revenue growth, market expansion, customer loyalty, brand recognition, or other areas. Ensure these goals are well-defined and communicated across the organisation. Your marketing objectives should directly support your business goals. Map out how this will work. Allocate resources in a way that maximises the impact on the business. Ensure there is communication between marketing and other departments.

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2 Research your market

The next step is to gather as much information as possible about your market, your customers, and your competitors. This will help you understand the current situation, the needs and preferences of your target audience, the gaps and opportunities in the market, and the strengths and weaknesses of your competitors. You can use various methods to conduct your research, such as surveys, interviews, focus groups, online reviews, social media analysis, and SWOT analysis.

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Israel Olaniyan LL.B., B.L.

Poet || International Development Consultant || Senior Creative Writer || Secured $3.5M+ in Grant Funding || Keynote Speaker || Policy Research Strategist || Pan-African SDGs Advocate
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I have seen that if you are ignorant about your competitors, the consumer segments, their interests, barriers to entry and other information, you cannot design an effective marketing strategy. You must then utilize data analytics tools to understand customer demographics, behaviors, and preferences, providing meaningful insights into target audience segments to inform strategy creation. You need to conduct a comprehensive industry research to understand key competitors, their strategies, and market positioning, identifying industry trends, unique selling propositions (USPs), and potential gaps that your strategy can fill up.

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3 Generate ideas

Once you have a solid understanding of your goal and your market, you can start generating ideas for your marketing strategy. This is where you can unleash your creativity and think of different ways to communicate your value proposition, reach your target audience, and persuade them to take action. You can use various techniques to stimulate your creativity, such as brainstorming, mind mapping, SCAMPER, and reverse brainstorming.

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4 Evaluate and select ideas

After you have generated a list of ideas, you need to evaluate and select the ones that are most suitable for your goal and your market. You can use various criteria to assess your ideas, such as feasibility, effectiveness, originality, cost, and impact. You can also use tools such as decision matrices, pro-con lists, and scoring systems to rank and compare your ideas. You should aim to select a few ideas that are both creative and realistic.

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5 Plan and execute

The next step is to turn your selected ideas into a detailed and actionable plan. You need to specify the tasks, resources, responsibilities, timelines, and budgets for each idea. You also need to define the channels, platforms, formats, and messages for your marketing activities. You should also consider how you will monitor and evaluate your progress and performance. You can use tools such as Gantt charts, calendars, checklists, and dashboards to plan and execute your marketing strategy.

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6 Review and improve

The final step is to review and improve your marketing strategy based on the feedback and results you receive. You need to measure and analyze the outcomes of your marketing activities against your goal and your market research. You need to identify what worked well, what didn't work well, and what can be improved. You should also be open to adapt and modify your marketing strategy as the market conditions change. You can use tools such as surveys, analytics, and reports to review and improve your marketing strategy.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What is your approach to creating a new marketing strategy?

1

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3

4

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1 Identify your goal

2 Research your market

3 Generate ideas

4 Evaluate and select ideas

5 Plan and execute

6 Review and improve

7 Here’s what else to consider

Creative Problem Solving

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What is your approach to creating a new marketing strategy?

1

2

3

4

5

6

7

1 Identify your goal

2 Research your market

3 Generate ideas

4 Evaluate and select ideas

5 Plan and execute

6 Review and improve

7 Here’s what else to consider

Creative Problem Solving

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