For a variety of reasons, which you can explore here, developing a marketing strategy is integral to the success of not only your marketing and promotional efforts but, ultimately, the growth of your business.
But while many small business owners understand these facts, they’re still left wondering: “Where do I start?”
A marking strategy is so valuable because it provides a roadmap that guides you to your destination.
And defining your destination is the first step in developing an effective marketing strategy.
Why?
That’s the million-dollar question, right?
Marketing Strategy is Your Map — And Goals Are Your Destination
I like the road trip analogy best… Imagine jumping in your car and heading off on a road trip. And as you pull out of your driveway, you toss your road Atlas and GPS out the window.
Sounds crazy, huh? And you’d never do something so silly.
Yet, that’s exactly how countless business owners (perhaps you included?) approach marketing. You launch a website, dive into email marketing, or start promoting your business on social media, all without really considering what exactly you’re trying to accomplish.
Now, I can hear your objection… New business and increased revenue are the ultimate goals. And that perspective sounds perfectly reasonable.
But there are two problems with this broad, non-descript approach:
First off, how do you measure success without defined goals?
Of course, new business and more money are your endgames. But how much new business? How much more money?
Marketing goals set benchmarks that help you measure whether your marketing efforts are a success or failure.
If you aim to generate more leads, would you be satisfied with 20 new prospects in a month, or is anything less than a hundred disappointing?
If you’re looking to increase revenue, is a couple hundred more dollars a month adequate, or is anything short of a 20% increase over the prior month a letdown?
Secondly, how do you reevaluate and revise your tactics and strategy without goals?
If you don’t generate 100 new leads or increase revenue by 20% within the monthly horizon you set, what are you doing wrong? Are your tactics falling short? Is your marketing strategy off-target?
Working from this perspective, you can examine your approach, identify the flaws, and make adjustments. Rather than just tossing up your hands and grousing, “marketing doesn’t work!” which is where many frustrated, overwhelmed, and overworked small business owners wind up.
The Takeaway?
In short, your marketing strategy needs goals, and those goals need to be specific in order for your strategy to be effective.
Need Help Marketing Your Business?
Whether you’re looking to launch or update your website, email marketing, social media, or PR campaigns — I’m here to help!
So, let’s chat: 310.466.7893 | ryan@ryananys.com