Have You Defined Your Business Marketing Goals?

Marketing Strategy for Small BusinessesMarketing is part of your
overall business planning but marketing and advertising are not the
same thing. Advertising consists of placing ads informing the public
of your business. Traditional methods of advertising are classified
ads, display ads, direct mail, bill boards, radio ads, TV
ads.Marketing consists of activity that introduces your businesses
products and services to the whole world or your target market.
Advertising is a piece of marketing but they are not the same.
Marketing includes products like logos, brochures, business cards,
brand awareness, branding of your products and services, and many
other ideas.You need to define your marketing goals:? What do you want
to accomplish with your business marketing?? Who is your target
market?? Do you want immediate customer response or are you just
trying to provide information on your industry? Should the Internet be
part of your marketing?? Will your business operate only in your local
area (within 3 miles of your location) or do you want to be city wide,
state wide, regional, national or world wide?? What media works best
for your answer to the above question?? Is there one media that works
no matter what type of products and/or services you sell? If so how
will you use that media to reach your intended audience?? What ROI
(Return on Investment) are you expecting for your marketing spend??
Will you manage your marketing internally or will you outsource your
marketing?? With you marketing reach, will you hire 1 company to
traditional marketing and online marketing or an expert at each type
of marketing?? Have you developed a marketing plan for your business??
Have you ever seen a simple marketing plan?? You can spend thousands
on getting a marketing plan created or you can control this expense by
using the KISS principle of marketing? Identify what you know and stay
within what you know to start out with? Grow over time and incorporate
additional marketing products as your growth allows?What should your
financials look like for your marketing plan? Your choice depends on
your business and your budget. Don't let someone try and fit you into
their model, the model you choose should fit your business structure
and your individual business goals? You should have a business plan
and marketing plan to operate your business. Even a small one or two
person business should have both plans. With all of the activity you
have to do every day, it is difficult to determine if every decision
you make keeps you on plan or steers you outside of you business
plan.? You should regularly review your business and marketing plan to
see where your business is heading. Periodic reviews should be done,
and it is up to you as the business owner to determine this schedule
and stick to the schedule so you can steer your business toward the
profitability you desire for your business? The Business plan and
marketing plan are living documents. Your periodic reviews of your
business should allow you to identify changes and implement those
changes in time to prevent consequences or allow you to steer toward
new opportunities as they present themselves. The primary advantage of
small business is ability to react QUICKLY to a changing customer
market place.? By changing quickly to your customers demands, you
become a significant value to your customers and they will continue to
buy as long as your provide VALUE to your existing and potential
customers.