“What is your small business marketing strategy?” That is usually my first thought when anyone who is thinking of launching their own business mentions it to me, or whenever I encounter any small business owner.
In fact, a marketing strategy is something that all businesses need to have in place, no matter how small or big they may be. That’s why I’m always keeping my ears up and eyes open to observe how other businesses around me are succeeding with their marketing strategies.
Having a marketing strategy is like having a game plan where you plot out your major moves before the game begins. When you have a game strategy in place, you have a better idea of what your next move is going to be.
Similarly, when you have a proper marketing strategy in place, you have a clearer idea as to which direction you should go with your marketing efforts. It also helps you to identify which marketing methods are most effective at reaching your customers in the exact manner that you are hoping for.
Most people will invariably end up asking me, “What happens if I don’t have a small business marketing strategy in place?” Have you ever watched a soccer game where the players seem to be just running around from one end of the field to the other without any recognizable game plan?
There just seems to be a lot of activity out there on the field but it is really a goalless activity in more ways than one. That’s exactly what it would be like. You’d be running around from one task to another without having any particular goal in mind and for the amount of time and energy you would have put in, you wouldn’t have achieved much at all.
Here’s how your small business marketing strategy will help you.
1. Gives your marketing efforts a definite direction
2. Helps you evaluate the effectiveness of various marketing methods
3. Helps you save time that would otherwise be used on ineffective marketing and ensures your marketing budget is spent wisely
4. Allows you to establish a more realistic marketing budget and helps with raising finance for capital expenditure if necessary
5. Helps you identify the requirements for any planned marketing activities
6. When there are multiple people involved, it helps specific areas of responsibility along with specific tasks
7. Gives you better insight into potential new markets that you may not have thought of
All of this helps you generate more business simply because when you have a clearer picture of where you are heading to and how you intend to get there, this will boost your clients’ confidence in your operations.
All marketing strategies are not the same. Your marketing strategy will depend on several factors, from the type of business and your budget to your target audience and your location.
Having said that, there are a few fundamentals that remain the same.
Here are the key factors to make a note of when developing your small business marketing strategy:
This is a just a barebones outline of what you need to do. You are of course going to have to develop a very detailed small business marketing strategy.
This will take time but consider it time well spent as it will give you more direction and will help you save a lot of time later down the road.
But It doesn’t end there...
You will still need to check back on your strategy every few months to determine whether you are on target or whether you need to revise the plan depending on recent developments for best results.
We really hope you found this information useful, why not contact us today so we can help you develop a marketing strategy that is the best fit for you're business.