When Developing Your Marketing Strategy: Rely on the F-Word
As a business owner, you’re moving in a lot of different directions. Trying to get (or keep) revenue flowing. Managing your business’s finances. Dealing with the day-to-day challenges of delivering your product or service to customers. Managing employees.
And, on top of all of this, you’re constantly striving to find ways to uncover fresh prospects and develop new business.
I speak with a lot of small business owners who clearly understand the value of marketing in growing their business.
When presented with the many options available to help them generate qualified sales leads or elevate their company in the eyes of their customers, their eyes always light up. And herein lies the problem.
There are so many options…
“I read something about running ad campaigns on LinkedIn.
“My buddy pays for Google AdWords.
“I want to attend that trade show.
“My wife says I should host a webinar.
“My competitor’s website is so much better than mine. I think I need a new one.
“I’d like to advertise in that trade publication.
“I want to start a blog.
“I’ve been approached to speak at that conference.
“I’ve heard Facebook ads can generate leads.”
Where does a business owner start?
The logical place is to start with your business goals. And I’m not talking about the goals in your head. I mean the ones written down – in a business plan, within a slide presentation or even simply on a note tacked to your computer.
From concrete goals flows sound strategy. For example, you say, “I want to increase sales by 15% this year and this is the target audience that typically generates the greatest margins for us.”
Based on that, together we can develop a solid marketing strategy, revenue-focused marketing metrics and relevant tactics to help you achieve your goal.
The most surefire way for your marketing activities to backfire is to try to do a bit of everything, to be everywhere – and do nothing well. Focus is a key tenet of any marketing plan. Focus ensures the plan has a mission and a purpose. It helps determine what communication vehicles make the most sense and guides every call to action.
When it comes to defining marketing strategy, the F-word is where it’s at.