MARKETING
The Business Bulletin
Why small businesses need a marketing strategy Here’s a scenario for you … you decide to throw a party that everyone will remember and talk about. There’ll be loads of drink, fantastic food, great atmosphere, and conversation!
Now imagine doing that without some sort of plan? There’s no guest list (maybe you tell one or two people and hope they invite their friends), no ideas about what food you’re
■ work IN their business, ■ deliver the best they can manage ■ buy whatever advertising is
going to do or drink you’re going
cheap or seems like a good
to buy. You just pop down the local
idea at the time
supermarket on the day and get whatever they have on special offer that day and hope you can throw something together. Given this scenario, I want you to imagine the type of party it will be now. Would you really rely on one or two people to get a bunch of the most fun, outgoing, and best party guests to your house? Would you get food without some sort of menu, and a shopping list? Of course, you wouldn’t. So then, why would you run a business in the same manner?
Vision but no direction Yet, that is exactly what many small business owners do every day. They have a vision for a business:
■ attend events because they think they should This they are hoping will attract the right kind of customers who appreciate their work and are willing to pay a decent price for their product or service. And then they expect those customers to tell anyone and everyone about them, without teaching them how to refer the right kind of customer (Think party guests!). The simple fact is doing whatever is easy and buying cheap marketing, counting on a few people to spread the word might get you minimal results, but are they the results you want to build a long-lasting business? Just like that party, you can’t build
offering the best product or service,
a successful business without a
standing out from the competition,
plan. You need to outline a strategy:
and serving lots of happy, satisfied
understanding who would make the
customers who talk about their
best customers? Whom do you want
business for years. But instead of
to invite to do business with you?
mapping out a planned direction for
What will you offer? How will you
achieving all of this, they go to work
package it? How will you deliver it?
every day and primarily:
How will you promote it?
16 | Issue 19
Develop your marketing strategy I believe there is a straightforward process to develop your marketing strategy – by strategy I mean the what, who, how, why, where and when – by setting categories and asking yourself the following questions:
Market positioning ■ What makes you different/ unique? ■ How are you better than your competitors? ■ What makes you an expert? ■ Where do you ‘sit’ in the marketplace – budget end, middle or expensive? Objectives ■ Are you trying to raise awareness? ■ Do you want to establish trust/ credibility with customers? ■ Are you targeting a specific sector or sectors? ■ Are you simply trying to grow and increase revenue? Competition ■ Who are your competitors?
