Building a marketing process is the first and most crucial step in implementing a company’s marketing strategy to reach target customers, promote products or services, and achieve business goals. How can you deploy a structured marketing process for maximum effectiveness? Let’s explore Optimal Agency in the following article!
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What is a marketing process?
It’s a series of steps from research, planning, and execution to monitoring marketing activities aimed at helping businesses achieve their business objectives. This process helps businesses understand the profile of their target customers, and their needs, and develop suitable marketing strategies to improve conversion rates into sales.
The marketing process needs to be prepared, planned, and executed meticulously and in detail. When there is a clear and specific process, businesses can build a marketing strategy to ensure all activities take place in the correct order. It often includes tasks such as: identifying market needs, setting sales goals, developing products and services, implementing overall marketing strategies, and monitoring and adjusting plans.
Why do businesses need to build a specific marketing process?
Building a marketing process plays a crucial role in a company’s growth. A specific marketing strategy helps you define objectives, understand customer needs, plan budgets, and minimize risks. Moreover, businesses can create and implement marketing plans sequentially, aligned with their target direction. Additionally, this approach brings numerous benefits to businesses, such as:
- Clearly defining goals and how the business can achieve them (the right direction).
- Understanding the target market, competitors, and the business’s target customers.
- This is the foundation for businesses to develop both comprehensive and detailed marketing strategies for each stage. This includes budgets, communication channels to be deployed, etc.
- Controlling the entire process of implementing strategies and having suitable, effective, and timely improvement solutions.
- Set a specific time frame, and compare and contrast previously set results. At the same time, it helps measure the effectiveness of marketing and communication activities.
- Businesses can easily identify the strengths and weaknesses of their products, opportunities, and challenges they may face. From there, they can position their brand, products, and services while enhancing their competitive advantage in the market.
6 steps to build a standard marketing process for businesses
Determine marketing goals
It is the first and crucial step in the marketing process as it sets the direction for all subsequent implementations. It acts as a compass guiding the business through the marketing strategy.
Marketing goals need to follow the S.M.A.R.T principle and be determined based on the business goals of the enterprise. Clearly defining business goals and marketing goals will help businesses evaluate the market and analyze competitors. From there, businesses can determine the appropriate resources and budget needed.
Target market analysis
In this step, businesses will conduct activities to collect, process, and evaluate information related to factors such as user behavior, competitors, etc. From there, support businesses in the process of devising appropriate marketing strategies that strike a chord with customers.
When researching the market, businesses need to collect and research aspects such as size, trends, customers, competitors, and costs… in a detailed and meticulous way. The more thorough the analysis, the more appropriate and effective the business decisions will be, enhancing business efficiency.
Identify customer segments
From the results of the market analysis obtained, competitor analysis, you will have a clear understanding of customer needs and competitors. The next step is to identify the segment your product targets.
Businesses need to know who the customers they are targeting are. What ages do they belong to, what are their interests and habits, how do they access information, and what do they want from your product?
From there, come up with appropriate marketing communication methods and plans and be able to find niche markets to market your products and services. This will help you effectively focus on appropriate human resources and budget.
Marketing strategy planning (Marketing Mix)
Once you have defined your objectives, analyzed the market, and studied your competitors, the next step is to devise a suitable marketing strategy for each market. In this strategy, you need to identify the actions to take and the challenges and difficulties you might face to build an effective marketing strategy that aligns with your brand.
You need to establish a marketing mix strategy to ensure a smooth and efficient marketing process. This is a tool businesses use in promotional activities. Traditional marketing has a 4P model comprising Product, Price, Promotion, and Place. Nowadays, the marketing mix model has expanded to 7P, adding factors like Process, People, and Physical Evidence.
Product: This is the first element in the marketing mix strategy. It provides customers with value and quality. Nowadays, businesses need to shift their focus to selling what customers need.
Price: This directly relates to customers’ purchasing power, revenue, and profit. Price changes significantly impact the entire business process of products and services. Therefore, businesses need to be careful in pricing to both attract customers and achieve market share and profit.
Place: Determine distribution channels so customers can easily access the product within a budget that suits the company’s financial situation.
Promotion: Define specific messages for the target market and choose suitable communication channels. Then, carry out PR and advertising campaigns within the company’s budget.
Process: Develop a specific process to optimize costs and manpower.
People: Research and understand customer behavior and desires to offer suitable products, pricing, and communication strategies. Also, pay attention to employees’ physical and mental well-being, including training, integration, and career advancement, to achieve the best work efficiency.
Physical Evidence: Elements like showrooms, uniforms, signage, logos, etc., offer real-life experiences to customers and directly influence their perception and expectations of the brand.
Developing a communication strategy
A brand communication strategy is a powerful tool for businesses to promote their brand and product information to customers through various media channels and social networks.
You need to identify the target audience for an effective communication strategy to craft persuasive messages. Create concise yet impactful messages that resonate with customers’ psychology. You can reach out through various channels like Facebook, Instagram, etc. Measure the effectiveness against your objectives and devise corrective methods.
Implementation and evaluation planning
The final step in the marketing process is implementation planning. For an effective marketing campaign, you need to invest time and effort. Develop a detailed and meticulous plan for each stage to achieve the highest efficiency in business.
After establishing specific marketing strategies, businesses need to collaborate with other departments to start implementing from the initial steps like product improvement, distribution, etc. During implementation, it’s essential to regularly monitor, measure, and evaluate performance to devise timely corrective measures.
By now, you should have a clearer understanding of the marketing process and how to implement it effectively to save time and resources, enhancing business efficiency. Hopefully, this information will assist you in developing your business and maximizing revenue.
Please see more:
- Google Marketing Live 2024 – Information you need to know
- What is multi-channel marketing? How to create an effective multi-channel marketing strategy
- Let is explore the Content marketing framework
Frequently Asked Questions
The marketing process is used to build systems that ensure predictable results and every action contributes directly to goals. Any business needs to build this process, especially when you are not achieving the desired results. Or you seek to expand the scale of your operations and grow your business.
For businesses to achieve marketing goals, the marketing process plays a very important role. If you want to implement this process effectively, you need to build a clear marketing strategy direction. At the same time, conduct research and analyze data to better understand customers and the market.
Implementing this process requires coordination between different departments within the enterprise. The market is always changing, so businesses need to innovate their marketing activities to meet customer needs.
