Marketing presents real challenges for a business owner. The limited resources available places practical constraints on how much marketing activity can be carried out and how much can be spent on it. This means that every activity must be undertaken for a well thought through reason and should bring in a good return.
In fact, what typically happens is that marketing is ad-hoc – just enough activity to generate some interest and then sit back and see what happens. Or there’s a knee jerk reaction to falling sales like “Quick let’s do a promotion”. This is not strategic marketing.
Putting together a good strategy involves many elements: starting with market research; finding out information about the opportunity you want to exploit, your competitors, exactly what you plan to sell, who will buy and most importantly why will your customers buy from you.
What do you know about your target market?
If you need help developing your strategic thinking about marketing your business, please give me a call.