1. UNDERSTAND YOUR CUSTOMER

Develop a clear picture of your target customer using market research and analysis.

Understand their pain points and the benefits of your solution.

2. ANALYZE THE MARKET

Some basic market research should allow you to find market data such as total available market, market growth (historical numbers and projections), market trends, etc.

3. ANALYZE THE COMPETITION

Ask yourself what other choices your target customers have to solve their pain point. Research and assess the strengths and weaknesses of each. Take a look at this article for more info on competitive marketing strategy.

4. RESEARCH DISTRIBUTION CHANNELS

What is the best way to deliver your product or service to your target customers? This will impact your sales strategy and your financials, as well as your marketing mix.

5. DEFINE YOUR MARKETING MIX

Check out this article about defining your marketing mix: Product, Price, Place andPromotion.

6. ANALYZE THE FINANCIALS

Put together your marketing budget and evaluate projected marketing ROI, customer acquisition costs, etc.

7. REVIEW AND REVISE

Continuously evaluate the effectiveness of your marketing strategy, and revise or extend as needed.