Ways to Grow Any Business
Many business owners ask what is the best marketing tactic that I can use that is worth the money. This is one of the most common questions that are asked especially from new small business owners. Many think it should be answered starting with “it depends”, however, it’s easy to pinpoint a tool that is very cost effect and yet delivers a very high ROI. What is difficult to understand is that it’s not commonly found in the so called “small business box.” It is actually not a marketing tool but a marketing strategy.
Why is a marketing strategy one of the most powerful marketing tools for growing your business? A good solid marketing strategy addresses the current challenges and maps out the paths on how to grow your business in the future. It audits both a business’s brand and their message, however, it is not limited to just branding. In reality a marketing strategy combines the big picture and the detail analysis which incorporates a range of various marketing channels that are tailored for that particular business’s industry, budget, and market. Most marketing strategies for small businesses always include a huge number of items that are performed free of charge by most in house staff which results in plans that don’t cost a fortune. Actually, a good solid marketing strategy is more of an investment and saves money since it targets business efforts and doesn’t waste money.
Marketing strategies that are developed by experienced marketers on behalf of a business is the best money spent. Marketing strategies that are quickly written or are generic small business strategies are a complete waste of money. In order for a marketing strategy to be effective it has to be tailor made for a specific business and involves research, analysis and a very careful match of opportunities within the resources and budget of that business. Most marketing strategies take a period of time to develop but are never over the budget of the business they are being developed for.
This bears repeating that smart marketing strategies are never more than what the business can afford but it will give the business owner a variety of opportunities that meet their short term goal while showing the paths for growth. The main advantage of a marketing strategy is that it will paint the business owner a picture of their business while highlighting their target audience. For example, if a business sells equipment such as a mobile phone credit card reader, the marketing strategy will focus on the business’s marketing budget and develop a schedule for reaching out to potential customers who are searching for that type of equipment.
Take the time to research marketers that have the experience necessary to write a solid marketing strategy for your business. Ask the questions necessary to determine if that individual or company has the right experience and that they understand exactly what you need in a marketing strategy for your particular business and that the strategy they write is effective and fits into your budget.