I was having a conversation the other day with a business colleague and we were discussing various obstacles that present themselves when growing your business. One of the most common obstacles appears to be that of the failure to identify your ideal client.
As I’ve mentioned in previous articles, one of the most important components of your marketing strategy is that of being clear on your target audience. Without a clear understanding of who your ideal client is, the implementation of your marketing strategy can never be honed to that specific audience. And without being able to target your marketing efforts, you will end up wasting time, energy and cold, hard cash.
I have repeatedly written and spoken about how the implementation of a proper, focused marketing plan is not only critical to the growth of your business, but is also a solid financial investment in the future of your business. However, we need to address the reality that there is a bit of an emotional disconnect, especially with small business owners, when it comes to parting with their finances to support a marketing program.
I get that.
But without investing the appropriate resources to properly market your business, you run the risk of being “forgettable”. In order to grow your business and to be seen as relevant within your industry, it is imperative that you are continually communicating to clients and prospects alike. Existing clients like to know that the companies they do business with are continuing to be viable in the marketplace, and prospects won’t even find you if you’re invisible.
Unfortunately, many small business owners make the mistake of randomly advertising their service or product without the development and implementation of a strategic marketing plan. Is it any wonder, then, that they end up disappointed and think that “marketing” doesn’t work?
The most important point that I can make is that advertising is not marketing. Marketing is about the creation of a strategy, based on your corporate values, goals, and ideal client, among other things. It is comprised of many components and nuances, with the end result being a unified approach to communicating effectively and efficiently to your target audience. Advertising, on the other hand is merely the implementation of one element of a strategic marketing plan.
So, as we are wrapping up 2015 and preparing for the next year, be sure to do a full review of all aspects of your business performance. Take a good look at any marketing or advertising campaigns that you have done over the past year and ask yourself if there was a strategy behind the process, or if it was simply implemented as a means to an end.
An investment in hiring a marketing strategist to help you identify, create, and execute a strategic marketing plan can help you attain your goals, financially and professionally. Maybe 2016 is the time to realize that your business is best served by focusing on your core competencies and outsource this component for growing your business.
Until next time…
Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, call me directly at 403-879-4297 or email me at firstname.lastname@example.org
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