The other day, I read a fantastic article on pricing your services and products. This article was written for women entrepreneurs, but I saw how it could be applied by any kind of entrepreneur, business or non profits. It made me think about all the steps in sales strategy. The first step of course is making sure you have a price figured out for your business but how do you know if you are charging the right price. For non-profits, how much should you be asking for when asking for a donation?
Getting to a good place with the first step (pricing) of your sales strategy starts with knowing what you are trying to earn and/or how much you want to raise either monthly or annually. Figuring out this simple goal can help you create a very targeted and strategic sales plan.
What exactly is a marketing strategy? It can be confusing, I know. I've heard it used to describe a whole host of things that aren't actually a marketing strategy. I don't want you to be confused anymore. In understanding what marketing strategy is, you will start to gain an understanding of why having a marketing strategy is important and why it is THE single most important thing you can do to create a rock solid marketing plan. I'll let you in early on why it is vital for you to have one. Then, you can dive into the rest of the article for examples and further clarification.
Without a strategy in place, your marketing plan doesn't really have legs. The plan gets its strength from strategy. You create marketing activities and objectives that are measurable based on the strategy you choose to pursue.
Common descriptions given about about marketing strategy include some variation of the following: 1. Many people think the marketing plan is the marketing strategy. 2. Some people confuse marketing strategy with marketing goals and objectives. 3. Many others see marketing strategy as the action plan or the steps to get to where you want your organization or business to be. If you think any of these three describe a marketing strategy, then I'm sorry to say that none of these are. But, I am going to define, describe and explain what one is so that you can create a strong marketing strategy for your organization.