Things to remember while developing marketing strategies for your business in Nepal
Developing marketing strategies may seem simple, but it is easy to miss the basics, yet essential components. For any startup and growth-stage company to grow and to establish its brand , exercising strong, consistent and smart marketing strategies is a must.
Outreach Nepal, a marketing company that has been operating for 14 years now, is a team of creative business-people. The team has the experience of launching some of the most successful marketing campaigns today, and working with brand custodians for some of the largest global and domestic brands of Nepal. Ujaya Shakya, the Managing Director of Outreach Nepal, has over 18 years of experience in the field of strategic 360-degree communication, branding and social communication development. In this edition of Next Venture Corp’s blog series with the mentors of its various entrepreneurship development programs, Shakya talks about things to remember while developing marketing strategies.
Utilize the increased media options
There were less media options to reach consumers when Outreach Nepal started out. But today, consumers are faced with a variety of media options, such as increased number of TV channels, the internet, and so on. Companies also require multiple touch-points to reach customers in more resounding manners. Since the digital penetration is growing fast and the audience segmentation in terms of media consumption patterns are changing, a majority of effective campaigns today involves an integrated approach.
Adapt with the changing market scenario
Marketing strategies have to adapt with the changes in the market scenario. Outreach Nepal itself started as a traditional advertising firm providing regular services involving creative communication and media planning & buying. But with the changing market scenario, they had to provide a wider range of marketing solutions, such as services that involves strategy planning, contemporary creative solutions, consumer activation ideas, trade marketing and visual merchandising, integrated digital ecosystem and events and PR. The amount and type of change will differ for different startups, but with the ever-evolving business sphere, the ability to adapt is a must.
You can’t be everything to everybody
When it comes to marketing strategies, Shakya’s most important philosophy is “You can’t be everything to everybody. Especially during the initial stages of business, as much as it is important to be mindful of what the market requires and what would sell, startups also have to realize that they cannot possibly please everybody. What they should be focusing on is finding their niche and operating within that territory.
Listen to the consumer
Depending on the startup, it’s service or product and the time it starts operating, marketing strategies can differ. For example, depending on the business category you operate in, coming up with new products every now and then or sticking to fewer products can both be appropriate approaches. However, listening to your consumer, understanding their pain-points and adapting your strategies accordingly, is something that applies to all kinds of growth stage businesses and startups.