Business
How to develop a successful marketing strategy
Published by linker 5
Posted on October 14, 2020
3 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by linker 5
Posted on October 14, 2020
3 min readLast updated: January 21, 2026
By Petra Smith, Founder of marketing agency Squirrels&Bears.
Relying on hope as a marketing strategy is never a good idea, but particularly during the current crisis where businesses really have to stand out to reach and attract their returning and new customers’ attention, it is essential to have a strategy in place. Uncertainty is high and cash is low but keeping existing clients and fighting for the share of a smaller consumer base is more important than ever.
Customers buy products and services that make their life easier or better. But with the volume of choice we currently have, customers are likely to turn to brands that they like and trust – and for those who never worked with or bought from the business, these decisions will be based on the impression the brand makes on their potential customers.
1. Do your research
Work with what you know. Look at what your potential customers are looking for and how they communicate. Depending on the data available, look at the return on investment on your previous marketing activities. Look at what worked in the past and what didn’t – in case you don’t have the information, talk to your peers to learn what works for them and do your online research. Different things work for different businesses so be objective and pick the ones you feel most comfortable with.
2. Define your unique value proposition
Your unique value proposition is what identifies your business, without it your clients have no reason to choose you over your competitors. A good value proposition is easy to understand, communicates specific results your clients should expect and explains how your business is different. As a general rule, your unique value proposition should be clear enough to be read and understood in 5 seconds.
3. Segment your audience
Be clear on who are you marketing to. Create your potential buyer personas and analyse how they buy – what are their key pain points, how do they communicate and what drives them. Once you know who your audience are, focus on why they should care about your business. Buying behaviours are driven by trust, so look at success stories you can share and results you can show. Once you have their attention, it’s all about building credibility.
4. Tell a story
Storytelling in business creates a competitive advantage – it helps to create an effective marketing communication strategy, triggers interest with potential clients and strengthens loyalty with your existing ones. Sharing stories allows us to connect with people in real life, create emotional connections and trigger our listeners’ attention. We all know how to tell a story, but what makes a difference is being able to tell a good story and tell the story well, making it relevant to the audience, and effective marketing is just about that – telling a good story, so it is remembered and shared for a long time.
5. Personalise your communication
One message doesn’t fit all, so be clear on who you are communicating with. Define the key demographic criteria and the interests of your target audience. Analyse their key pain points, look at what motivates them and how do they communicate. These factors will impact the messaging you use and the way you distribute the message. Equally important is the stage of their buying journey as it impacts the level of education required about your products and services. Understanding your customers’ standard behaviours will enable you to create targeted communication strategies that deliver results and help to grow your business.
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