“To … not prepare is the greatest of crimes; to be prepared beforehand for any contingency is the greatest of virtues.” – Sun Tzu, The Art of War
Most small businesses didn’t open shop because they wanted to go into marketing – they either were skilled in their field, or saw a niche to be filled wherein they could make a lot of money. If they failed to plan for how to drum up business, they learned soon enough that they needed to get the word out. Many think that a big sign out front, or a branded vehicle with contact information is enough. And who knows, in some towns, maybe these tactics are enough to generate business.
But this is not marketing. This is advertising. Marketing, as defined by Laura Lake, is “the systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products.” In other words, it’s the strategy. Advertising should be part of any comprehensive plan, but it’s only a part. You want to come up with a long-term plan before engaging in any activity that’s going to cost you money.
And strategy, as Sun Tzu will tell you, is the art of being prepared. A marketing campaign will outline tactics, timelines, techniques, and the tracking of progress, so that the strategy can be adjusted down the line. Anything less and you’re wasting valuable resources.
Here are some questions to ask yourself while determining where you want your marketing strategy to take you:
• What are we seeking to gain from this project?
• How much time and effort can we afford to spend?
• Who are our target markets?
• What is our marketing budget?
• Does our current brand effectively target our market segments? Why or why not?
• What aspects of our business are we looking to promote the most?
• Are there paths of distribution we are looking to open?
• Where do we view our web presence in terms of priority?
• What are our benchmarks for moving to the next level?
If you can answer these questions sufficiently, only then are you ready for implementation of any component, whether it be advertising, public relations, or online social networking.
It’s that kind of preparation that will make your strategy a cost-effective one.
