Mentorship Sessions

Learn the necessary business skills you need to start and scale your business.

September 2022 : Data Analytics and Business Intelligence

Nov 18, 2021 : Market Strategy and Channels

Why is Marketing Strategy Important for a Business?

A marketing strategy is like a game plan for reaching prospective consumers and turning them into customers. The ultimate goal of a marketing strategy is to achieve and communicate a sustainable competitive advantage over other companies.

What are Channels in the Business World?

Channels are how a company communicates with its customers or how a company reaches out to its target customers. Your channels are your touch points, that play a crucial role in your customer experience.

So your channels actually serve several functions including raising awareness among customers about your company’s products and services, helping customers evaluate the company value proposition, and much more.

There are basically 4 types of phases in a Business Channel :

✔️ 1. Awareness: It’s about communicating companies’ products and services through social media, websites, or other channels.
✔️ 2. Evaluation: It’s how you can help your customer evaluate your organization’s value proposition.
✔️ 3. Purchase: How we allow customers to purchase specific products and services.
✔️ 4. Delivery: How we actually deliver the value proposition to our customers.

To know more on how to make a marketing strategy for your company, watch our Mentor Connect video which is available on our website, and at the end of the video, you will get a market strategy template, which will help you better define your channels and strategies.