Archive for March 2nd, 2010

Mar 02 2010

Running before you can walk - why a clear business strategy is the first step to marketing effectiveness

Published by admin under Great marketing stuff

When we’re asked to meet with potential customers to help them develop a suitable marketing strategy for their business, rather than hitting them with a “death by powerpoint” presentation on the virtues of tactical marketing,  we always ask what their plans are for their business and if they have a clear, well-defined business strategy in place. And in many cases, the answer is a rather resounding “No!”

But why do we ask about a business strategy if all the client wants is some help with their marketing? The answer goes right to the core of how we do business. Every piece of marketing advice we give our clients is designed to deliver results - and if it’s not part of an overall strategic direction, it’s impact will not only be severely limited but also a potential waste of valuable marketing budget. It might also be entirely inappropriate if it doesn’t reflect the strategic objectives of the company.

Our starting point for developing a marketing strategy always has to be a clear understanding of what our client wants for their business - how do they see their company developing in the future? Are they perhaps looking to sell the company in the next couple of years and enjoy an early retirement? Or are they looking to secure a steady 10% growth over the next five years with a secure dividend stream? Both directions of course have totally different mindsets and both will require a completely different marketing strategy designed to help achieve their own specific outcomes.

For many smaller, owner-managed businesses, the business strategy is inextricably intertwined with the more personal objectives of the business owner themself. Rather than looking for the quick marketing fix (there isn’t one by the way!), we take the time to listen - to their hopes for the business, the issues they are facing and the potential barriers preventing them from achieving their objectives. We first of all help them to bring clarity to their thinking and ask them some searching questions about what they really want for their business. Once we have achieved a clear view of where they would like the business to be in 2,5 or 10 years time, we can then help them develop a clear business strategy.

Once the business has a clear strategic direction to follow, we’re off and running. We can then develop a specific, appropriate marketing strategy which really will deliver the required results. It’s not a quick fix, but it works - that’s what makes us experts at what we do. To find out just how we go about developing effective marketing strategy, take a look at our resources page here.

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