For new businesses, growth does not happen suddenly and without a plan. Getting to know your customers, identifying the target market, pricing and branding are all challenges that even the smallest business face. All of this is incorporated in a marketing strategy. The research starts with understanding your competition, from what they offer, how they offer their products and services and how they place them. Reaching the market is a multichannel effort. When focusing on social media, try to optimize one platform at the time, as specific strategies will differ.
- Learn about your customers so that you can start tweaking your content to fit their wants and needs better.
- Look at your competitors and analyze what they are doing right and what they are doing wrong to give you a competitive edge.
- Figure out the best method to reach your target market whether that be via sales promotions, advertising or digital marketing.
“While you might be eager to develop a strong presence on every popular platform, you must not spread yourself too thin when attempting to develop a strong marketing strategy. Instead, you must focus on mastering one social media network at a time.”