Marketing Strategy Is Sexy, Said No One
Marketing strategy isn't all that sexy. But building sales and making bank is awesome!
Every week I talk with business owners who are interested in marketing. They know that marketing has something to do with making sales, and they want in.
But what they skip over is the marketing strategy.
Are you a business owner? Are you happy with the results from your marketing spend?
Then read on for 6 more minutes.
Let me convince you why it's critical to your marketing success.
Before you spend another cent on marketing
This will make your money-making brain think.
When talking marketing with people, pretty quickly the conversation moves to talking about Facebook, or promotions, or Instagram, or Google… (of course, there is the SEO question but let’s leave that bundle of black magic for another day).
Know you need to market? CHECK
Know what marketing you want to do? CHECK
Know why you are doing it? Um… To get customers…?
EEEEEERRRRG - Wrong!
Think about it.
What the hell are you trying to do?
Simple question really, yet most business owners don’t have a real grasp.
And I understand why, I really do.
I was the same for a long time - and that’s what eventually led me to get curious about this marketing stuff.
And no, I’m not talking about internet marketing, or online marketing, or any kind of marketing.
I’m talking about the whole thing - marketing
Why are you doing it? Why are you marketing?
What result are you trying to achieve?
Knowing this answer is how you laser focus your effort, save money, and get results.
So read on.
Now, this is where YOU get involved
I see two kinds of business owners all the time. These two are the most common.
Both employ different marketing strategies, without even knowing it.
Neither is wrong or right - it's just that just different information is needed to help move forward and get results.
HOWEVER - one type has a greater chance of failure.
Here we go... See which one you are.
TACKLING MARKETING - Battle Royale
Red Corner - Kip
Kip has been fighting (running his business) for 5 years.
In the beginning Kip had an idea with a product, he bulk purchased and sold them out of his study. He made a small fortune, with almost no overhead.
Now he has a storefront in a good street and his business makes him a tidy living, taking holidays and vacations regularly. Lately his sales have been plateauing and even taken a few dips. Kip says it’s to do with the local sporting teams losing streak, because some of his suppliers have been talking about how other stores have the same problem.
KIPS MARKETING STRATEGY
Kip has a lot of stock, but no one to sell it to, so he has started running internet ads and that quickly gobbled up a bunch of money without creating any real noise. Kip is experimenting with promotions too - and they are getting some good response, consequently although his regulars are loving the deals, his profit isn't improving.
Kip has had some good seasons in the past therefore he is financially ok - for now. He knows he needs to bring sales back. Kip wants help.
Blue Corner - Mary J
Mary J has been running her business for 5 years also.
In the beginning, Mary had a few repeat customers and this forced her to be always trying new products and experimenting. Now she has a wide range of products that satisfy lots of repeat customers. Subsequently, a steady sales business.
She too takes time off, but only when she needs a break. She has built a sales funnel from trial and error - sure it’s a little rough (she scribbled it on a drinks receipt one night and it’s stuck on her office wall) but it works.
She is constantly trying to understand her customers wants and needs. Mary has a pretty good idea why her customers buy from her but doesn’t know how to get them to buy more.
MARY J's MARKETING STRATEGY
She knows her margins well enough to manage her stock efficiently and knows what kind of customer she wants more of, but she doesn’t know how to get their attention, let alone get them to purchase. She's been trialing different sales price tags and even started discounting. She knows this strategy isn't long term - but sales have dipped lately, and Mary’s not quite sure why.
Mary has had some good seasons also, so she has about as much time as Kip to get her sales back moving again. Mary wants help.
So, which business owner are you like?
Kip - or Mary J?
Or maybe a bit of both?
They both are using a marketing strategy - the reality is that both of them just suck.
Your business life will meander
We can’t control so many things. But too often we leave those few things we can control up to others. And that’s what this blog post is about.
Don't just believe me. Listen to what Jim has to say.
I want to help business owners make more money, and be loved by their customers.
Why? Plenty of reasons.
Firstly because it’s just fun working with business owners - they, by the most part, are doers.
Secondly probably for many of the same reasons you are in business.
And the third reason why I want to help people is most probably because I’ve seen what failing business can do to people. Messes up their whole lives. It’s painful watching people go through that. And if I can help - then yay!
And today it’s about YOUR marketing strategy.
See this week alone I’ve sent 3 important emails to people (who probably won't ever become my clients) - who desperately need help.
They are victims of their own stubborn drive but without direction.
When talking to them I tried to help them see that jumping from one tactic to the other is of course not going to yield results.
But without a marketing strategy, this point is mute! All they cared about is "what's going to get me more customers".
"But what kind of customers?" I'd ask.
"What product do you want to sell more of...?" I'd enquire.
And nothing! No clear answers!
This is so frustrating because this is fundamental to the marketing strategy. These answers tell you where to look, what to do, and what not to waste you time doing.
Sadly, I realise I may have wasted my time sending advice, but who knows.
Now lets wrap this up
Strategic Digital Marketing Strategy.
Not that sexy hu?
How about just ‘Marketing Strategy’ - because that’s what it really is (digital has merged into every part of our lives, so treating it differently is kinda redundant).
Still not sexy?
How about WAKE UP - THIS IS YOUR MONEY, YOUR FUTURE, YOUR LIVELIHOOD - STOP DRIVING AIMLESSLY, PICK A GOAL AND GO FOR IT!!!
This is what I really want to say to people sometimes. But it rarely works.
Instead dear reader, I plead my case with you:
If you get strategic about your business, you will have more chance of making good money for a long time.
'Strategic' is about knowing the goal and reverse engineering it.
'Strategic' is NOT about just starting out and seeing where it takes you.
Confession - early on, years ago I spent $500 on Google ads and did not receive even one lead from it.
I thought that’s what marketing was - you spend money, with the hope you ‘catch’ some big sales.
So many owners view marketing like this. It’s so sad.
They think marketing is gambling - because they don’t really understand it.
They think that if they have a good idea, then it will get customers.
Wow. No. Wrong. Stop it, you can’t be trusted. Get some help, you’ll ruin your chances of success.
The business world is so different today than it was just 5 years ago. And it’s changing rapidly too.
Marketing has the power to make or break a business owner.
Red corner or blue corner
Think about those two characters. These made up characters are actually based on real people. One is probably going to win. One might win.
This week it’s all about strategy. And it doesn’t even take long.
The time it takes to choose a destination pales in comparison when considering how much time and effort it takes to get there. Let alone the known and unknown challenges you’ll face along the way.
Be strategic. Win.