Developing effective marketing strategies

Marketing strategies are critical for driving sales and building brand awareness. This is true now more than ever: the competitive landscape has changed, with growing numbers of new competitors from around the world and changing social expectations. To stay ahead, marketing managers need to build innovative and dynamic marketing strategies.

Key elements of effective marketing strategies

In order to be effective, marketing strategies should be fully integrated within the overall business strategy. As a consequence, marketing strategies require strong coordination with other business functions and units.

Marketing strategies also require the establishment of clear objectives. The marketing strategy for launching a new product will be very different from that for entering a new market, for example. By clearly outlining the overall goal, marketing strategies can then be developed according to the most suitable tactics.

Other elements to consider include:

Are marketing strategies based on strong data? It is critical that consumer insights constitute the basis of marketing strategies to ensure that the business offers solutions which meet consumer demand.

Are the marketing strategies taking advantage of all media channels, according to clear customer segmentation? Not only do people consume marketing information differently according to age, gender and geography, but also according to type of media. Marketing strategies must ensure that marketing activities reach the right people in the right context.

Are marketing strategies taking the competitive environment into account? It may be important to carry out business intelligence training and a competitive analysis before designing and implementing marketing strategies.

The final important element to consider is the execution of marketing strategies. In fact, many marketing strategies fail simply due to the fact that not enough thought has been put into the execution details.

Marketing strategy training

Marketing managers - as well as mangers in other functions - can build skills for developing and implementing effective marketing strategies through business and other executive training. Many business schools offer marketing courses - either as a stand-alone program or part of a broader business management course. Look for programs from top business schools - where you can be sure of high-impact marketing training.

Effective marketing training provides you with a clearer understanding of the drivers of customer value, behavior and choice and helps you understand how to co-create and capture more value. It should also help you to strategically differentiate and position your brand, and guide you to define a value proposition that meet's your customers' needs.

The best marketing courses also build capacity for innovative thinking and strategy execution.They help you to build a business case,demonstrate financial value in terms of Net Marketing Contribution, and strengthen your ability to align different stakeholders. This is essential for getting the necessary internal buy-in to effectively implement marketing strategies.

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