Few would argue that the way customers see your business is undergoing a radical shift. As customers take a more active role in their decision-making, we are faced with the reality that yesterday’s customer is not tomorrow’s customer.
Suddenly, you’re expected to understand every aspect of your customer from their preferences and changing needs, to providing relevant products and connecting with them on an individual level.
So what steps do you need to take in order to make sure you adapt and stay relevant to their ever-changing needs?
The answer is simple; you need to develop a strategic plan with a focus on generating deep consumer insights.
Focusing time and effort on an effective marketing strategy
When creating a marketing strategy, it is crucial that it is designed to meet your specific business goals.
Look at all the things your business can do, narrow it down to the things that it does well, then leverage what you’re really good at.
Here are two useful tools to help you determine your goals:
Once you have a set direction of who you are and where you’re heading, you will be able to develop a plan for how to get your content, brand and message to the world. And this plan needs to be flexible enough to allow for changes in the marketplace.
Having a strategic plan that utilises the four principles of developing a good marketing system of:
- Putting the right combination of strategies into a powerful plan,
- Following an effective implementation process,
- Tracking and evaluating your marketing results,
- Consistently driving your message and actions,
will also help you determine where to spend your time, human capital and budget.
You can read more about these principles in our article How to Grow a Successful Medical Practice.
The Value of Customer Insights
Customer insights, now more than ever, form a valuable part of your strategic focus. By harnessing these insights, you can create a more accurate and targeted marketing plan to attract and engage customers.
Uncovering new opportunities through customer insights can truly drive growth, taking your business from being on par with competitors to a market leader.
By implementing this approach, you will be able to formulate new strategies designed to introduce a new way of thinking as well as solve unmet needs – providing you the foresight needed to stay ahead of the competition.
Before you even begin gathering customer insights, it is important to first define your target market. You can do this by asking the following questions to create your ideal customer profile:
- Who are they? ie What is their age? Where do they live? What do they do for work/fun? What do they believe in?
- How did you get their business?
- Where can you find more like them?
- How can you communicate with them?
Review and analyse
Once you have a marketing plan, it does not mean your job is done. To ensure your plan performs and achieves the results it was designed for, you need to regularly review the process and refine as necessary. At Vividus, we do this quarterly.
Developing a marketing strategic plan takes time, resources and commitment. Therefore, if you and your team are not willing to commit wholeheartedly to achieving your goals and putting your plan into action, you’re wasting your time. After all, poor planning is worse than no planning.
When was the last time you updated your marketing plan? Have you been keeping an eye on your competition? Are you still meeting your customers’ needs?
If you’re not sure of the answers to these questions, fill out our marketing self-assessment to gain better insight of what you need to do to take your business to the next level. Alternatively, give us a call on 1300 848 436 and one of our marketing consultants will give you a call to help tailor a solution to suit your needs.