How to Evaluate a Market Strategy

Are you challenged with your marketing? Have you been asking yourself, “How do I market my business?” or “How do I market my product?” It could be something as simple as semantics. Here’s an article that shares seven characteristics of market strategies actually generate sales.

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Every firm has something that it calls a market strategy. Unfortunately, many market strategies are ineffective and almost guarantee failure. Market strategies that really work always have the following characteristics:

1. They are strategic rather than tactical.

This sounds simple, but it’s a point that many people find confusing. Strategies define goals to be achieved while tactics define the actions you’ll take to achieve those goals. Example:

  • Strategy: “Double sales revenue in the Midwest territory.”
  • Tactic: “Hire three more salespeople in the Midwest territory.”

2. They are measurable rather than vague.

You can’t manage what you can’t measure. If your goals are vague, you have no idea whether your tactics are achieving them. Example: Read more…

 

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