Yes, we know what you’re thinking: what does a marketing strategy even have to do with food or cooking? Well, we’re glad you asked. Just to name a few of the things they have in common, you need a lot of passion and dedication in order to cook something right. You need the best ingredients and tools, know the audiences that are coming to the table and cook for their taste. And, most importantly, cooking and marketing strategy are both an art and a science – you need a plan, but you also have to spice things up every now and then.
1. Know who you are and what you want
Take your time in the kitchen and breathe! This is the most important step. This is the moment when you clear your head and think. What have you cooked in the past? Did you like its taste? Was it worth it? Or maybe you have never cooked before and you feel a bit overwhelmed. Whatever the situation, gathering all the information will definitely ease the process.
The recipe is no different when analyzing your business and setting your marketing objectives. It is important to understand where you stand as a brand, what your strengths and your weaknesses are and what you want to achieve. Study the market and its trends in order to place your strategy in the right context.
2. Who are you cooking for?
Maybe you have amazing cooking skills and own all the ingredients, but that makes no difference if you are trying to cook a fancy lobster to someone who only needs a sandwich.
Know your target audiences and cook for their taste. What are their needs and their desires? Do you have what it takes to fulfill them? Decide if you want to serve a romantic dinner for two or feed an army of employees on their lunch break. Let us give you a small tip on this: take a look at your competition to find out what you can do better, and maybe you will find a niche that no one is cooking for.
3. Choose the right ingredients and plan ahead
Now that you have the taste and know who you are cooking for, it’s time to go shopping for the perfect ingredients. But wait, not just yet! Make a list, so you won’t find yourself in front of the stove, with everything in its place, only to realize that you forgot to buy the rice for your risotto.
Similarly, when setting up your marketing plan, it is essential to choose the channels and instruments that meet your goals. Thorough planning will ensure an efficient use of your marketing budgets and maximize your return on investment.
4. Set up your budget
We know, this is one of the most difficult parts because now is when you realize you may have to give up on some of the ingredients or replace them with something…let’s say, less delicious. It is important to know what to expect from the very beginning, so you can react and find alternatives if you feel that something is out of your league.
5. Mix it up
Decide if you want to follow a recipe or invent something new. Don’t be afraid to experiment, because now is the time to test and see what works for you and what doesn’t. Refine your dish and get rid of the extra cream and cherry on top if you feel that you don’t need them or they are not as good as you expected.
Your marketing strategy is all set and you are good to go! Now comes the hard part: it’s time to put into practice everything you had in mind. Stick to the plan in order to have a sustainable presence in the lives of your consumers, but don’t forget to take advantage of the unpredicted opportunities. Here’s another tip from Loopaa: it’s always good to have a strong partner along the way.
6. Don’t forget to evaluate & improve
What? You thought this was over? You may have the best-looking dish, but if it lacks the taste… Now is the time to take a moment and ask your audience if they enjoyed their meal or if they feel like smashing the plates on the floor. Or maybe they are still hungry?
An equally important step in your marketing strategy is measuring the results of your campaigns. Take a look at your KPIs and find out how you met your goals, whether this means tracking conversion rate, inquiries or customer’s potential. Be your worst critic, understand the numbers and aim to constantly improve your recipe.
Did this article get you thinking about the best ingredients for your business? Come and join us for lunch, and find out what Loopaa is cooking up each day! It could be your next marketing strategy, all topped with sugar, spice, and everything nice.