The reason why most businesses fail is that they do not have a clear and compelling idea of where they want to be or an appropriate plan of how to get there. A clear destination and a few simple steps will steer your business to success.
How can marketing help with this? Marketing is about understanding your target market and pitching, placing and promoting your product and service appropriately. It often stems from understanding new, emerging and changing markets and identifying where there are needs, gaps and opportunities.
One of the best ways to achieve this is to become your customer or client to step into their shoes. As part of this, you must consider:
- What kind of product/service(s) do you want as a potential customer?
- How would you like to see it packaged, presented, delivered and promoted?
- What would make you actually buy it and in preference to a rival one?
- How and where would you like to find/hear about it?
- Why would you tell friends about it and buy more?
The following simple device will give you powerful insights into marketing and progressing your business. To get the best results, take yourself to a place or location that you love (not sat at your desk). Develop as clear a picture as you can depending on the role in your company you will either be able to shape all or part of this.
Ask yourself: where do you want to be in three years? Once you’ve considered this, write the answers in specific detail, imagining it is 2008 and it has already been achieved.
- Where are your location/premises? (Give specific space, size, look, facilities, set-up.)
- Set out in specific details what customers/clients you want and how many.
- What range of products and services do you have?
- What levels of sales, turnover and profit will you be making?
- What staff will you have and what roles and skills do they have?
- What is the management, staff and finance structure, culture and support?
- What range of marketing, promotion and PR are you using now?
- What else is happening in your business and the wider industry now?
- What were the steps you need to take to achieve this?
Spend a few minutes picturing, considering and enjoying how your business is three years on and the benefits to the lives of yourself, colleagues and customers.
Your next task is to outline the steps you will need to take to achieve this.
Year-by-year what are the main steps you need to take?
- What research, development and planning do you need to do and when?
- What training, skills and support do you need for yourself and others?
- What partners, services, suppliers, specialists and advice will you need and when?
- How will you attract clients?
- What range of marketing, promotional and publicity will you need and when?
- Where else would you like people to hear about your service/product?
- What else would make a real boost to you business?
- What ways will you use to measure your progress, review and stay on track?
What will you do this week, month and year to achieve it?
Whatever the vision of your business, it is likely that a variety of marketing initiatives will be the key to success. For most businesses these will include: word-of-mouth contacts and referrals, direct contacts, a website, advertising, marketing collateral, publicity (trade and/or consumer media) and events/exhibitions.
By developing a clear picture of where you are going you can actually cut the cost of your marketing. Many businesses I’ve spoken to, or have worked with, have used very direct, focused marketing and promotion to specifically targeted audiences. This ranges from establishing partnership tie-ins with complementary providers, making ‘warm calls’ to specific potential clients and gaining local or trade press coverage to name but a few.
Once your marketing plan is established and underway, use feedback to improve and perfect it. For example, find out where your customer found you, and what they like or dislike.
