Affordable marketing strategies are not specific marketing tactics and activities. But they help you choose affordable tactics that work effectively.
The top ten affordable marketing strategies mostly involve research and planning, which you can do for yourself.
Affordable Marketing Strategy 1 - Decide Who Is Your Target Market: You can't market to everybody so you have to decide who is most likely to buy your product or service and market directly to them. They are your target market and your most important marketing strategy.
Affordable Marketing Strategy 2 - Discover The Best Appeals For Your Target Market: Once you've selected a target market, you need to learn as much as possible about its members. Knowing demographics like age, education level, occupation type, gender and race, reveals many other characteristics, and their values, concerns, attitudes, information needs and media preferences.
Affordable Marketing Strategy 3 - Research Your Competitors: Next you need to think about what business you are really in and who else is in that business and competes for your customers' money.
A table works well for recording your competitors, along with the weaknesses and strengths of each. Make a column for each competitor and a row for each benefit or feature. Then use minuses to note weaknesses and pluses to note strengths.
Affordable Marketing Strategy 4 - Decide What Makes Your Business Different: After completing your competition table, add your business to it. Record your strengths and weaknesses, looking for a characteristic that is strong for you but weak for your competitors. This characteristic is your best selling point. It's what makes you better than your competitors.
Affordable Marketing Strategy 5 - Determine Your Marketing Goal: What do you most want to tell your target market members about how your business or product better meets their needs? What do you hope the result of your marketing efforts will be? Answering these questions reveals your marketing goal.
Affordable Marketing Strategy 6 - Determine Your Objectives: Now backtrack from your goal to decide the steps it will take to reach that goal. These steps become your marketing objectives.
Affordable Marketing Strategy 7 - Select Your Most Important Marketing Message: This message becomes a constant in all your marketing tactics. It is your key message and should tell your target market members how your product or business benefits them more than your competitor's. You should communicate it in one clear concise sentence or phrase.
Affordable Marketing Strategy 8 - Determine The Media That Best Reaches Your Target Market: Your target market analysis should provide you with information about the best media to reach your target market. Research that media so you can design messages that work well with it.
Affordable Marketing Strategy 9 - Start Your Marketing Efforts: Now it's actually time to start taking action. All the strategies so far prepare you to produce marketing tactics that will lead to meeting your marketing goal.
You also need to keep good records on what you spend and the results you get with each tactic.
Affordable Marketing Strategy 10 - Evaluate Your Marketing Efforts: Now it's time to use those records that you collected in strategy 9. They will enable you to make sound decisions about which marketing tactics worked effectively and should be repeated, compared to those that didn't provide an acceptable return on investment.
Each of these marketing strategies are affordable and will save you money by helping you to spend your marketing resources only on tactics that will be effective with your target market.
The top ten affordable marketing strategies mostly involve research and planning, which you can do for yourself.
Affordable Marketing Strategy 1 - Decide Who Is Your Target Market: You can't market to everybody so you have to decide who is most likely to buy your product or service and market directly to them. They are your target market and your most important marketing strategy.
Affordable Marketing Strategy 2 - Discover The Best Appeals For Your Target Market: Once you've selected a target market, you need to learn as much as possible about its members. Knowing demographics like age, education level, occupation type, gender and race, reveals many other characteristics, and their values, concerns, attitudes, information needs and media preferences.
Affordable Marketing Strategy 3 - Research Your Competitors: Next you need to think about what business you are really in and who else is in that business and competes for your customers' money.
A table works well for recording your competitors, along with the weaknesses and strengths of each. Make a column for each competitor and a row for each benefit or feature. Then use minuses to note weaknesses and pluses to note strengths.
Affordable Marketing Strategy 4 - Decide What Makes Your Business Different: After completing your competition table, add your business to it. Record your strengths and weaknesses, looking for a characteristic that is strong for you but weak for your competitors. This characteristic is your best selling point. It's what makes you better than your competitors.
Affordable Marketing Strategy 5 - Determine Your Marketing Goal: What do you most want to tell your target market members about how your business or product better meets their needs? What do you hope the result of your marketing efforts will be? Answering these questions reveals your marketing goal.
Affordable Marketing Strategy 6 - Determine Your Objectives: Now backtrack from your goal to decide the steps it will take to reach that goal. These steps become your marketing objectives.
Affordable Marketing Strategy 7 - Select Your Most Important Marketing Message: This message becomes a constant in all your marketing tactics. It is your key message and should tell your target market members how your product or business benefits them more than your competitor's. You should communicate it in one clear concise sentence or phrase.
Affordable Marketing Strategy 8 - Determine The Media That Best Reaches Your Target Market: Your target market analysis should provide you with information about the best media to reach your target market. Research that media so you can design messages that work well with it.
Affordable Marketing Strategy 9 - Start Your Marketing Efforts: Now it's actually time to start taking action. All the strategies so far prepare you to produce marketing tactics that will lead to meeting your marketing goal.
You also need to keep good records on what you spend and the results you get with each tactic.
Affordable Marketing Strategy 10 - Evaluate Your Marketing Efforts: Now it's time to use those records that you collected in strategy 9. They will enable you to make sound decisions about which marketing tactics worked effectively and should be repeated, compared to those that didn't provide an acceptable return on investment.
Each of these marketing strategies are affordable and will save you money by helping you to spend your marketing resources only on tactics that will be effective with your target market.
About the Author:
Save time. Select from 20 Complete Target Market Profiles or watch a video and learn to Create Your Own Target Market Profile. You can get a unique content version of this article from the Uber Article Directory.
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