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What is Discovery, and Why is it Important for Your Marketing Strategy?
Nowadays, it’s more important than ever to have an effective marketing strategy that allows you to create awareness about your brand, reach your audience, make more sales, and generate more revenue. But have you ever wondered how it’s possible for marketing agencies, like MACLYN, to create effective marketing strategies based on your unique business?
This is where discovery comes in. It gives us valuable insights into who you, your customers, and your competitors are. Based on these insights, we can then devise a marketing strategy that will be most effective and allow you to stand out from the crowd.
With that in mind, let’s look at the process of discovery in more detail.
What is Discovery?
Let’s start by looking at what discovery is. At its core, discovery is the process of doing in-depth research into your business, your customers, and your competitors and forms the foundation of marketing strategy development. In practice, this involves a meeting or series of meetings where team members within our marketing agency meets with different people across your business.
When meeting with different people across your business, we learn, through several perspectives or viewpoints:
- Who your customers are. Through discovery, we learn more about your customers including where they’re located, how old they are, their typical educational background, marital status, household size, income level, and more.
- Who your competitors are. When we study your competitors during discovery, we learn who they are, how they’re positioning themselves in the market, how they price their products, who their customers are, and how they market their products or services.
- What your mission, goals, culture, and values are. Once we know who your customers and competitors are, it’s also crucial that we learn more about you. As such, we immerse ourselves into your business to understand what your mission, goals, culture, and values are. Ultimately, these will play an important part in shaping your brand marketing strategy and communicating your value proposition to your customers.
- Where you’re performing well from a marketing perspective. Apart from the areas mentioned above, we also go into the technical aspects of what you’re currently doing with your marketing and where you’re performing well.
- What areas of your overall marketing efforts should be improved. Based on all the research we do, we’ll be able to establish what areas of your overall marketing efforts should be improved. We’ll then devise an integrated marketing strategy that will be more effective in reaching your audience, have a higher return on investment, and, ultimately, allow you to generate more revenue.
Why is Discovery Important for Your Marketing Strategy?
Now that we’ve looked at what discovery is, let’s look at why it’s important for your marketing strategy. Firstly, through discovery, we learn exactly who your customers are, their needs and expectations, and the challenges they face. This allows us to show your customers, through your marketing efforts, how you can solve their challenges and what your value proposition is.
In addition, because we learn who your competitors are through the process of discovery, we know what we need to do from a marketing perspective to make you stand out from your competition. And when you do, you will be able to attract more customers and take advantage of more opportunities in the market.
Finally, because we’re able to develop an innovative and effective marketing strategy as a result of the in-depth research we do during discovery, we’ll be able to reduce your risk. In practice, this means a few things. For one, we’re able to create content that reaches the right customers at the right time, while still representing your brand. This means you’ll have an optimal return on investment on your marketing spend.
Also, because we gather actual data during the process of discovery, our strategy is not based on speculation. As such, we’re able to make better decisions, set better goals, and develop realistic and achievable benchmarks relevant to your business, your customers, and your industry.
There you go, now you know why a proper discovery process forms the backbone of an effective digital marketing strategy. If you want to know more about discovery or if you would like to know more about how effective digital marketing can help your business, don’t hesitate to contact us.
At MACLYN, we specialize in marketing strategy development, whether it’s a digital marketing strategy or a content marketing strategy. So, if you need marketing advice or services in the Des Moines, Naperville, or Chicago area, we’re there to help.
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