Marketing Strategy – Consultation

When developing an appropriate strategy, the characteristics of online in comparison with off-line marketing, in terms of the advantages and disadvantages thereof, are taken into close consideration. The online marketing channels are remarkable due to their wide range and goal-oriented advertising possibilities, however there are also hidden dangers. Due to the high transparency for customers, businesses must be especially careful in monitoring and protecting their reputation (through professional online reputation management). The anonymity of the internet and its enormous field of competition further complicate methods of attracting and gaining customers. The emphasis on measures for both keeping return customers and gaining new ones is additionally important.

Start-ups and businesses with very limited budgets for online marketing often set out with short term goals and results for a fast increase of their ROI. For long-term success, however, sustainable online marketing strategies are especially important in giving advantages over competitors and securing a lasting competitive position. Large companies usually follow a different strategy: thanks to a bigger budget and the popularity of their companies and brands, other business objectives are set. In this case, the strategic planning must take into consideration the continuous changes in competitive conditions. The high dynamic makes it necessary to keep tabs on the strategy on a regular basis and alter objectives accordingly.

Generally, one discerns different phases in planning a strategy. Firstly, the business situation, both internally and externally, is evaluated. Profit margins and expenses, price ranges and unique selling points (also referred to as unique selling propositions, or USP) of the products are ascertained, and the available budget, personnel requirements, and foremost target audience are resolved. An analysis of heretofore marketing techniques as well as the market itself is also necessary. Secondly, the most important objectives are defined and sub-goals categorized. Based on the preceding analyses, appropriate measures are drawn up and put into place. Lastly, key figures for the evaluation of success are ascertained and considered.