Wednesday, February 27, 2008

Got a Marketing Strategy?

Most small businesses lack any kind of marketing strategy. 97% of small businesses operate their marketing from a purely tactical standpoint.

Reactive marketing tactics such as ads, flyers, a mailer here and there will not position your business for growth.

With the emergence of social marketing on-line and the pressures of a slowing economy, sound marketing strategy is critical for small business survival.

Why Strategy Matters

The simple and amazing fact is that most small to medium size businesses have no marketing strategy. None. At best they have a media schedule, like ‘This quarter we’ll run some radio spots and do a print ad.” That is not the same thing.

A marketing strategy is a plan to make money. A media schedule is a plan to spend money. There is a difference, believe me.

What do I mean by strategy? I mean begin at the end result and work backwards, laying out the steps. Your end result is more sales (how many?). Which means more leads (how many?). Which means attracting those leads with a compelling message (what message?). Which means delivering the message (using which media, costing how much, with what ROI?).

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