Do you need a Marketing Strategy?
September 6, 2019
As summer comes to a close, small business owners undoubtedly begin thinking about ramping up business for the fall and holiday seasons. Unfortunately, many small business owners think short term when it comes to marketing...planning week to week or month to month, without real planning or strategy. So the question, "Do you need a Marketing Strategy" is really a rhetorical one. There truly is only one answer...YOU BET, ABSOLUTELY, NO DOUBT, WITHOUT QUESTION...a resounding YES!!!
Whether you have a formal business plan, a sales planning system, have plans written in the Notes of your mobile device or just scribbled in a notebook...in order to achieve them, you must have a Marketing Strategy. If you think of it in layman's terms, no major goal is ever achieved without a plan. Heck, you don't even take a road trip without a map (or rather, navigation)! Of course there's luck...but are you willing to bet your business' success on pure luck?
In a world where consumers are savvy, competition is fierce and businesses are closing left & right...this is WAR! If you truly want to achieve your business goals, you need strategy, planning and tactic. You wouldn't go to war unequipped...& if you did, you certainly wouldn't win! A Marketing Strategy not only clearly defines your goals, but also how you will achieve them. It includes marketing plans, advertising, promotion and branding. If your 'marketing plan' for 4th quarter is exclusively Facebook and/or Instagram posts...you undoubtedly haven't even scratched the surface! Not only are there other marketing platforms (including other social media platforms), but there are also more ways of utilizing them to build your brand and ultimately grow your business than just posting. If this is the extent of your 'marketing plan', you are pretty much relying on luck! Not only are you putting all of your eggs in one basket, but with all of the rules and algorithms, you have no way of knowing whether or not your audience will ever see those posts! You need options...variety; you need to ensure your marketing efforts are indeed going to reach your target customer.
If you need assistance developing a Marketing Strategy, considering hiring a professional...we are certainly here to help. Marketing should be about 30% of your overall business expenses. It is constant and a continuous reinvestment into your business. If you don't think you can afford to pay for marketing or for expert assistance...ask yourself instead if you can afford not to.
In the end...failing to plan is planning to fail!