As the first quarter of the year draws to a close, how are those New Year’s resolutions working out for you? If you’ve stopped going to the gym, well … you’ll have to deal with your personal trainer and your spouse on that one. If you’ve stopped focusing on your strategic plan to grow your business this year, then I have a problem.
We’re on number four of the Top Ten Questions to ask yourself as you create platforms for sustainability and growth.
Here’s a review of the first three with links to the blogs on those subjects:
- What are you long- and short-term goals?
- Do your verbal and visual messages (your brand) speak to your target markets?
- What’s your PR plan for 2014? (FYI-If you think you don’t need public relations, well … you are wrong).
And now … on to #4: What is your marketing plan for 2014?
There’s no secret math formula. In marketing A + B doesn’t necessarily equal C. To mix metaphors here, you cannot write a marketing book that speaks in generalities because not all marketing strategies work for all businesses. For example, a video will not work for an IP lawyer, but would be great for a children’s store that teaches children how to tie their shoes.
Marketing is not as easy as the basics: business cards, letterhead, collateral and a website. In the 21st Century, the basics are just that, basic and marketing today is complex; and I will repeat — there is no formula here. Traditionally speaking, there have always been a lot of moving pieces in marketing; now with the “www,” those moving pieces are swirling in the cloud, which is exactly why so many businesses are feeling marketing-challenged.
So, what to do:
First off, don’t jump in without a plan. It’s the biggest marketing mistake, bar none. You must first analyze and redefine what matters. Figure out…
- Target markets: Current and prospective. Think about your goals. Will you broaden your target market (new product/service introduction)?
- Corporate brand: Is it authentic?
- Strong messaging: Does your messaging speak to your current target market and your future target market as well?
Then, you must ask yourself the following tough questions. The answers to these questions will redefine and redirect your marketing plan:
- Why do consumers repeat business with you?
- Why do they value your product/service?
- What is your corporate identity?
- What are your business seasons or cycles?
- Does your website authentically capture your brand, message and have a call to action?
Now you are ready to create a strategic plan and implement those action plans. The most important advice I can give about creating a strategic action plan – define your priorities and break your plan down into steps.
It’s a changing world:
Twenty years ago marketing was all about the 4 P’s: price, product, place, and promotion and FAB (feature advantage benefit) statements. If it all lined up, you and your business had marketing success.
Today, while the foundation for promotion has not changed, the “marketing mix” has become an evolving process. The challenge is not the “formula” or strategy. Since there isn’t one formula, the challenge is choosing how to market your business successfully.
Take, for example, a shoe store. The product is, of course, shoes. Do you have a retail business or an online e-commerce site?
For a retail outlet, a marketing strategy might be to create a communication campaign (once/month) that incentivizes customers to come to your store and purchase products (thereby driving traffic in to the store). This strategy is different than an e-commerce based store that needs an SEO strategy to drives traffic to its website, engaging users with graphic messaging and incentives for purchasing directly from the site (user friendly/purchasing incentive). Same product, two entirely different strategies to sell. Both come with their own challenges: the retail outlet depends on clients to come to the store; but, once there, the customer is already a soft lead. The online outlet thinks they can just place an image of the shoe and a PayPal button to purchase, an “if I build it, they will come” approach. But, the sensory/experience of purchasing that shoe is missing. So, other concepts, such as a “return” or “shipping” policy may be necessary to engage users and influence buying behavior.
That’s why “redefining what matters” is so important.
A strong marketing plan changes behavior. Imagine for yourself why you would buy a new product or service if you were already content with the one you had? You most likely would not unless something of more value was introduced to you with an incentive that accompanied the value.
As you head into the second quarter of 2014, ask yourself: Is my company’s messaging convincing enough to change behavior?
And remember: do not create a haphazard plan for 2014. Think through your plans, redefine your priorities, create a spreadsheet and organize yourself.
In keeping with our shoe store example, here’s an example for March.
Spring: athletes – soccer, baseball, warmer weather, spring trainings.
Hmmm… it is also “National Athletic Training Month.” So, if I have an athletic line that is really relevant. If green is a popular color this spring, you may be able to tie in showcasing “Green Sneakers for St Patty’s Day.”
- E-marketing Campaign could be about one of the ideas above.
- An incentive for purchasing might be relevant.
- Blog- topic can also relate.
One thing I want to discuss before I conclude: If you are planning to create a video to help with marketing and promotion, make sure to first define your goal. A video shouldn’t just fill a hole on your website. It should be a marketing tool that compliments your business goals and attracts your target market so your potential customer/client wants to learn more about you and your services. If the video doesn’t do that, don’t produce a video.
Finally, I leave you with this: strategize and implement. Then, re-strategize and implement. Have the stamina for strategic success!
In our next /’sas∙s’ē/ blog: Do you know where your target market is hanging out? Are you engaging them in a way that reflects the essence of your business?
Next topics to cover:
5) Do you know where your target market is hanging out? Are you engaging them in a way that reflects the essence of your business?
6) Do you have a plan that enables the trifecta – PR, marketing & social media – to work together to support growth in 2014?
7) Does your website have a call-to-action? Is your content up to date?
8) Do you have a blog to support your SEO strategy?
9) Do you even have an SEO strategy?
10) Does your 2014 strategic plan incorporate public relations, marketing and social media within your overall business cycle to support growth and sustainability?
