According to the Australian Bureau of Statistics, more than 60% of businesses cease operations in their first three years of their start up journey. It further advised that every entrepreneur should have a feasibility study first and then develop a formal development plan to avoid business traps.
To lay the foundation, we will discuss the five reliable ways to develop your sales and marketing strategy, according to industry experts:
Identify and align your sales and marketing objectives
Identifying your long-term goal can be a tedious fact-finding mission. But as long as you know your exact objectives, you’ll find it easier to come up with marketing plans.
Achieving your target revenue should be well aligned with your business objectives, including market segmentation and overall growth direction. You should not only be focused on your revenue targets but also on how your business presents as an entity.
Credit Capital’s senior investment consultant emphasised that “Goal setting is critical because it will help you remain consistent with your purpose, image, and action. It also allows you to measure your strategy and reconfigure if needed.”
Be SMART in selecting your target market
The acronym SMART is a known strategy, even in business, which stands for Specific, Measurable, Attainable, Reliable, and Timely. It provides a stable and dependable roadmap to the selection of your target market.
Once the brand purpose has been identified, defining the target market tends to become more manageable. For example: if your brand is selling shoes, you must ask these questions:
- What is the lifestyle of my customers?
- Where do I want to see my products?
- What is the emotion I want customers to feel when they see my products?
- What ideas should be associated with my brand?
Along with the identification of the demographics of your target market, you should also meet the four crucial variables of your customer needs, such as product features, product quality, level of service to the customer, and price.
Keep your system seamless and everyone attuned
With a solid plan in place, the next thing you should do is to keep everyone in your organisation at the same place. Integrated and consistent delivery of your marketing slogan across all organisations assures that your company delivers a unified message.
Automate your business operations
There is one single part of your business goal that needs to be fulfilled – customer satisfaction. The use of Customer Relationship Management (CRM) tools bridges the gaps in the customer interface. It enhances the processes from sales and marketing to customer service.
Keep everything timely
You might want to write down dates and deadlines of your goals because timing is critical in business. Now and then, new market trends merge that might catch you off guard.
It may not be easy to tie it all together. The job can be too much for you to handle. Then, hiring a professional digital marketing agency is always a good option.
Contact Digimedia Worx for a more captivating sales and marketing strategy now