Marketing... Where Do I Begin?
Picture it… Sicily… 194… kidding!
You’re a small or medium sized business owner. You make just enough to stay afloat, so you think that you don’t need to invest in marketing… that its only for the big dogs. But you need to generate traffic into your business.
How do you justify no marketing spend, but expect an increase in revenue? How you do differentiate yourself in the market? How do you grow your business?
It’s time to shake things up! But where to start? It’s all so daunting! Well, let’s start at the beginning…
Contracting an agency to manage your marketing strategy, shouldn’t be an off-the-cuff decision based on the expectation that you simply pay them, they create some magic with no input from you and immediately your business becomes inundated with new traffic...No.... it doesn't work that way.
Marketing is an intricately calculated activity, of highly strategic components, working together with the goal of creating a beautiful synergy. There is no cookie-cutter marketing strategy, and anyone who tries to sell you a ‘quick-fix’ without a thorough understanding of your business is not worth their weight in likes.
Irrespective of how simplistic you may perceive your business model or product line to be, there are some foundational elements which bely effective marketing strategy. Formerly, this was known as the 4P’s of the marketing mix- product, price, promotion & place. This has most recently been refined into an 8-component mix surrounding your target market. These are- product, promotion, price, place, people, process, performance and principle.
You must be thinking… Great, but I don’t speak Greek!!! What does all of this even mean?!? I just want to sell my product and make money! Simply put, this means that an effective marketing strategy takes into account selling the right thing, to the right people, in the right way, in the right place, at the right time for the right price!
With so many rights… what could possibly go wrong? Everything! Assumption of who, or what each category is composed of, as opposed to verifiable data, can offset the entire mix and result in the catastrophic failure of a campaign… wasted time and money! It doesn’t mean that marketing doesn’t work, it means that a component(s) was wrong and needs adjusting.
Unless a consultant begins the conversation of compiling your marketing strategy, by taking into consideration all the workings of this established framework… then they’re doing it wrong.