If you do something in the void, because, “I saw targeted advertising on X working for competitors, I'll do the same,” it is unlikely that something will work. You need an understanding of business inside and out. You can contact agencies that will tell you how best to promote your product and analyze everything for you. Comfortable, fast, payback. But you can do it yourself, here is a list of questions that you can answer yourself to better understand your business:
*I'll use "we" in the meaning of your business
1. Who we are
- What are our advantages and who are our competitors? Are we better?
- What are we selling? If we sell vacuum cleaners, logically we will to sort the goods by price and be most active in talking about products that bring more profit. It is unclear which reader's problem we solve. From the point of view of the reader's tasks, we need to understand by what features and for what purposes people choose vacuum cleaners. For example, "devilishly powerful and with excellent filtration for allergy sufferers" or "to make it easy to drag around the apartment." Now it is clear what to write about and how to sort: we need to talk about the properties that the reader needs to make a decision. That's what we are selling, not the "Ultrasmart-99 Vacuum Cleaner".
- In which regions do we sell?
- Which positioning do we sell with, how do we build up from competitors?
- Who are we selling to? On whom will we make growth?
- Who is our main client group?
- Who exactly is not our target audience?
2. Market share, current location
- What market share do you occupy today? Is it falling or growing?
- How much/how many times can you still grow before your market share is 5-10%?
- What are your growth plans for 1-3-5 years?
4. Is there a company development strategy and marketing tactics in writing? Is there a communication strategy?
5. Planned financial indicators of business growth?
6. Are we building a brand? Are there any facts on the basis of which the design and communication strategy are built?
7. Goals and objectives set for marketing for 1-3-5 years
- What are the current problems hindering development?
- What would we like to improve and what is already improving?
- Can we double our sales volume? How fast and at the expense of what?
- What new markets or audience segments (depending on our scale) can we reach? Planning to get out? Have we come out in the past year?
This list is longer: there are also questions about potential customers, the customer base and its management, indicators for further development vector and work with the target group that will help you create a competent business model. If it was useful - let me know, will do part 2 :)