A common question that business owners ask is, What’s the best marketing strategy for my business? The answer to that will vary based on who your target audience is, what you’re selling and how you distribute your product or service. However, there is still one best answer and it may not be what you think.
The best marketing strategy for your business is the one that you can and will implement. Before you get to all the other fundamentals of marketing, you have to be clear about one thing: A plan that doesn’t get implemented is a plan that doesn’t work, regardless of how good it is. Too many entrepreneurs are quick to cast their marketing into the accusatory, it’s not working, column without having a solid system and processes in place for carrying out the strategies that have been outlined.
Here I will share a few ideas to help you build a solid foundation to begin identifying the best marketing strategies for your business.
1. Consistency – At the top of the list is consistency. I have to mention this because I hear and see business owners that will try something once or twice and then chalk it up as not a good strategy. In order for something to work you have to give it time to work. Marketing is not a magic pill that you take one time and it solves all your problems. Like anything else, you have to work your plan.
Marketing is an ongoing process for building awareness for your brand.
2. Capacity – As you’re outlining strategies you have to consider your capacity. Capacity is all about the resources you have to dedicate towards your plan, both financial and otherwise. If you have very limited dollars to dedicate towards marketing then you won’t have the financial capacity to carry out certain strategies. It’s important to understand what you’re working with to create the best plan of attack.
3. Research – To define the best strategies you have to do some research. Research always holds a solid place in my book because data is very informative. Take note of the things that are working in your industry. What are some of the best practices? How can you tweak, modify or incorporate some of the best ideas across your industry?
4. Processes – Creating clear processes for the things you do on a regular and consistent basis allow you to be more productive and systematic in your business. Your processes don’t have to be elaborate, but you should have a step-by-step method for getting things done consistently. This keeps you from having to reinvent things over and over.
Use these key ideas to define the best strategies for your business. Put a plan together and execute consistently and watch the results manifest.
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Biz Practitioner
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