In a world of fierce competition and constantly changing consumer trends, the marketing strategy becomes essential for any business. A well-planned marketing strategy is the backbone of your business growth, allowing you to effectively promote your products or services, target the right target audience, and ultimately increase your sales. However, nearly 74% of small and medium businesses say they lack confidence in their marketing strategy. Without a strategy, marketing efforts feel like tests of luck, consuming time and resources.
In Greece, small businesses often face limited resources. However, investing in digital marketing can bring great returns. As stated in an analysis, "digital marketing is the tool that can transform your business, helping it stand out from the competition and reach new customers." As an example, a small Greek company that used targeted social media ads and newsletters managed to double its sales in a few months, while another improved its brand awareness by focusing on its Greek products.
What is marketing strategy?
The marketing strategy defines the overall way in which a company promotes its brand to the right target audience. It includes market research, target setting, message planning and selection of appropriate promotional channels. A comprehensive marketing strategy usually contains:
- Marketing Objectives: What the company wants to achieve (e.g. increase brand awareness, sales or market share). Objectives should be SMART (Specific, Measurable, Achievable, Relevant, Time-bound) and should be aligned with overall business objectives. For example, if the corporate goal is +20% sales, a corresponding marketing goal might be +25% website traffic or +30% increase followers on social media.
- Marketing Mix (4P's): Product (e.g. features, quality), Price, Location (distribution) and Promotion (advertising, promotions). By understanding these elements well, you determine how to position your product. For example, a traditional Greek product can emphasize its quality, localness and natural origin, make it available in selected outlets and promote it through social media and local events.
- Marketing Budget: Allocate resources (monetary, human) for the actions. Even with a limited budget, it is worth investing in digital channels, which often have a higher return than traditional media. Monitor the performance of each campaign to maximize ROI.
- Competition analysis: Study your main competitors (Greece/internationally). What do they do well, where do they fall short? Use SEO tools (e.g. Semrush) and social listening to see what keywords they are targeting, what campaigns they are running, and detect gaps in the market. This knowledge will help you differentiate yourself.
- Audience-Target & Personalizations: Divide your audience into segments (e.g. age groups, interests) and create buyer personas, i.e. fictional profiles of ideal customers. For each persona define demographics, behaviors and problems. For example, if you are targeting students in Athens, use analytics (Facebook/Instagram Insights, Google Analytics) to see their key characteristics and create personas that describe your typical customer.
- Content Strategy: What content you will create and where you will publish it. Include blog posts, videos, infographics, even podcasts or webinars for variety. Make sure the content is quality, explanatory and optimized for SEO (keyword usage in articles/videos). In Greece, visual content (videos, images) is very popular, so take advantage of it.
- Metrics & KPIs: Set performance indicators (e.g. site visits, conversion rates, social engagement). Use tools like Google Analytics, Social Insights, CRM, and Facebook Pixel to track data. Analyze which channels and actions are working (A/B testing) and adjust your strategy in time. Your decisions should be data-driven to maximize ROI.
Benefits of a good marketing strategy
A methodical marketing plan offers many advantages:
- Clear Direction: It sets clear goals and points the way to success.
- Audience targeting: It helps you target exactly the right people and tailor the message to their needs.
- Consistent Branding: It reinforces the corporate identity, as all channels communicate in a common style, increasing customer awareness and trust.
- Maximize ROI: It focuses resources on the most efficient activities (e.g. more responsive digital campaigns), maximising return on investment.
- Analytical Evaluation: It allows you to constantly measure what's working and what's not (e.g. via Google Analytics or Social Insights) and regularly improve the strategy.
Without a strategy, marketing becomes chaos and a waste of resources. Instead, a defined approach brings loyal customers and steady growth.
Components of the marketing strategy
An integrated marketing strategy is based on a clear structure. Its main components are:
- Marketing Objectives: They define exactly what you want to achieve. They must be specific and measurable. (See SMART goals). For example, if the overall goal is +20% sales, then a marketing goal might be +25% increase in traffic or +30% increase in followers.
- Marketing Mix (4P's): Product, Price, Location, Promotion. It represents all of your decisions about what you sell, at what cost, where you distribute it and how you advertise it. Classic example: a premium Greek snack will highlight its taste and will be shown with attractive tasting videos while being distributed in selected locations.
- Budget: How much will be spent on the strategy. Each campaign should be evaluated on the basis of its cost. With conservative resources, use digital media (Google Ads, Facebook Ads) that can be measured and pay off quickly.
- Competition analysis: Learn the strengths and weaknesses of your competitors. Who are they targeting? What communication tactics do they use? This helps you formulate a strategy that stands out (e.g., offer differentiation or branding).
- Audience-Target (Personas): Determine exactly who your ideal customers are. Create personas with demographics, needs and problems. Example: if you are targeting students, define personas with name, age, interests and design content (posts, humor) that "speaks" to them.
- Content Marketing (Content Strategy): Plan what content you will produce (articles, videos, infographics, podcasts, etc.) and on which channels you will display it (blog, YouTube, Facebook, Instagram, LinkedIn). For example, create educational videos in Greek or social cards with quick tips to educate your audience.
- Measurement & KPIs: Set KPIs (performance indicators) such as visitor growth, conversion rate, cost per lead, etc. Track data and do A/B testing on campaigns. Tools like Google Analytics or CRM allow you to see exactly what's working. E.g. if a Facebook ad isn't bringing clicks, change the image or text.
- Technological Tools: Use CRM (e.g. HubSpot CRM) for customer management, Hootsuite/Buffer for social scheduling, Mailchimp/Brevo for email marketing, SEMrush for keywords, Google Ads & Facebook Ads for ads. Also, Facebook Pixel and Google Tag Manager help with retargeting and visitor analysis.
Creating a marketing strategy - Step-by-step
Follow these steps to plan your strategy:
- Market Research: Collect data about your market and customers. Use Google Trends, analytics (e.g. Google Analytics, Facebook Insights) and surveys to understand needs and trends. Social listening on social media and competitive analysis will show you what is capturing the interest of your audience.
- Setting Objectives: Set specific business and marketing objectives. For example, "+30% sales in 6 months" or "+50% new newsletter subscribers". Goals should be measurable and aligned with your business goals.
- Competition analysis: Consider what your competitors are doing online and offline. Find out which channels they prefer, what content they produce and how they interact with their customers. By doing so, you'll identify opportunities and avoid mistakes others have made.
- Targeting Audience & Personas: Build personas based on common demographics, income, interests and behaviours. For each persona, create a name and description (e.g. "Maria, 28, Instagram fan"). This will help you tailor the style and content to your audience.
- Create a Message: Determine the key messages you want to get across. What problem does your product/service solve? What is your "slogan" (USP)? Also choose a consistent tone of voice - friendly, professional or light - so that all your messages have a cohesive identity.
- Choice of Marketing Channels: Choose the right channels based on your audience. Will you invest in traditional media (TV, radio, print) or digital (Facebook, Instagram, Google Ads, email)? In Greece, social media (Facebook, Instagram, TikTok) have a wide reach. In addition, partnerships with influencers (popular bloggers/YouTubers) increase reach.
- Creating Content: Design blog articles, videos, infographics, or even podcasts/webinars. Example: Publish educational videos with healthy recipes or guides on how to use your products. Make sure the content includes SEO keywords (e.g. "marketing strategy" in the text) for better search engine rankings.
- KPI Definition & Monitoring: Set key indicators (e.g. number of site visitors, leads, conversion rate) and monitor them systematically. Perform A/B testing on ads (e.g. two different texts or images) and select the optimized solutions. With this data, you continuously improve your strategy.
- Technology Integration: Use technological tools for automation and analysis. Chatbots can serve customers 24/7, while email automation tools (Mailchimp, Brevo) send newsletters to the right audience. Marketing automation allows you to automate repetitive tasks (e.g. automatically sending thank you emails).
- Presentation & Communication: Share the strategy with the whole team (marketing, sales, design). Create a document or presentation with the key points and make sure everyone knows the steps and their roles. Ongoing collaboration between departments is critical to successful implementation.
Examples of successful marketing strategies
- Greek Food Startup: A start-up juice company in Thessaloniki has targeted young people who love healthy products. Target: become the leading juice brand for students in northern Greece in 6 months. The strategy included partnerships with gyms, Instagram campaigns with #HealthyStart and giveaways. Videos with smoothie recipes and health blog articles were created. Within a few months, followers increased by 70% and sales almost doubled.
- International Electronics Society: A well-known mobile brand launches an innovative model for young people. Strategic objective: establish itself as a top choice for young professionals worldwide. The strategy emphasized avant-garde design and affordability. The campaign included hashtag #NextGenPhone in TikTok/Instagram ads with young influencers showcasing the phone in their daily lives. Ad spots played at music festivals, while YouTube reviews showed off technical features. The result was a doubling of pre-orders and a big increase in brand awareness.
- Greek Tourism: A family hotel group in Crete targeted families with children. Strategic goal: booking increase +50% in one year. The strategy included content with families at the beach and children's activities. Travel blogs (guest posts), Google/Facebook ads with a "2nd night free" offer and special entertainment packages for children were used. The result was +60% bookings and best reviews on Booking.com and social media.
Tools for implementing the strategy
To implement your strategy, use the right tools:
- CRM: Platforms like HubSpot or Salesforce aggregate customer data and automate email campaigns.
- Analytics & SEO: Google Analytics, SEMrush or Ahrefs help you track which keywords are bringing customers and how traffic is moving.
- Social Media Management: Tools (Buffer, Hootsuite) for scheduling Facebook/Instagram/TikTok posts and audience analytics (Facebook Insights, Instagram Insights).
- Advertising: Google Ads (search and display ads), Facebook/Instagram Ads, as well as local platforms (e.g. Skroutz Ads for e-shops).
- Email Marketing: Mailchimp, Sendinblue etc. for sending newsletters with personalization and automation.
- Facebook Pixel & Google Tag Manager: Tools for detailed tracking of site visitors, improving campaign targeting and analysis.
- A/B Testing & Optimization: Optimizely, Google Optimize to test different versions on landing pages or emails to choose the most efficient one.
- Creating Content: Canva (graphic design), chatGPT/AI (for ideas and texts), high quality photos/videos.
- Webinars & Training: Tools (Zoom, Teams) for team updates or demos to clients.
These tools facilitate planning and monitoring. By using data (data-driven marketing) you reduce risk and make decisions based on numbers.
Modern trends in marketing
The field of marketing is constantly evolving. Some important trends are:
- Content Marketing with an Emphasis on Video: Videos (especially short videos such as Reels, TikTok) are gaining ground. Users consume videos more easily, while algorithms push them strongly. Brands that invest in engaging video content are gaining engagement.
- Influencer Marketing: Partnerships with influencers increase the reach of campaigns. Younger audiences in particular trust products recommended by favorite content creators.
- Data-Driven: Many businesses now base their decisions on data and analytics. Research shows that companies that follow a data-driven strategy achieve better results (e.g., understanding the most effective tactics 31%, increasing ROI 30%).
- Artificial Intelligence (AI): Use of tools such as ChatGPT, chatbots and automation help personalize and automate marketing tasks. AI speeds up content creation and improves customer service.
- Data Privacy: With changes in cookie policies, companies are turning to first-party data (collecting data through their own communications) and considering new measurement methods (e.g. data loss modelling).
- Sustainability & Responsibility: Consumers are now looking for brands with social and environmental responsibility. Promoting environmentally friendly practices and corporate social responsibility (CSR) reinforces the brand image.
- Omnichannel Marketing: Customers want a smooth experience everywhere - online and offline. A consistent presence in physical stores, e-shop, social media and customer support is essential for a strong brand.
Common mistakes in strategy formulation
Even the best strategies can fail if major mistakes are made. Some common mistakes are:
- Failure to carry out a market investigation: By relying only on intuition without data, we take significant risks. The lack of qualitative and quantitative research on the public leads to wrong decisions.
- Excessive Focus on One Channel: By putting "all our eggs in one basket" (e.g. only Facebook ads) we miss opportunities in other channels. Diversification (e.g. social + email + SEO) protects against algorithm or regulatory changes.
- Vague Objectives: Without measurable goals (e.g. "sales growth" without a percentage), we cannot evaluate performance. Goals must always be specific and time-bound.
- Ignoring Campaign Analysis: Many companies implement a campaign and "forget" about it. Post-campaign analysis (metrics, feedback, reviews) is essential to find out what worked and what didn't, so that we can improve.
- Denial of Adaptation: Markets change quickly. Companies that do not evolve their strategy (e.g. do not exploit new tools or channels) risk being left behind. We need to constantly monitor trends and adjust our plan.
Conclusions
The marketing strategy is not just a buzzword, but an essential tool for development. By planning systematically - from market research to KPI measurement - you put all parts of your communication under control. Every marketing action becomes part of a single plan, reducing waste and maximising results. Remember: in a world of new technologies (e.g. AI) and social networks, strategy must constantly evolve. Take advantage of free tools and templates; for example, HubSpot offers a free marketing plan template. Start now: define goals, learn your audience, and follow the steps outlined. With proper organization and constant monitoring, you will see your business grow steadily.
Sources: https://blog.hubspot.com/marketing/marketing-strategy