After talking to so many small and medium businesses, I realised that there is a big gap in understanding what marketing can do for your business.
Usually, a business owner builds a website and starts spending on social media and hopes for the best. Then when the results don’t come, they keep increasing the spending rather than question where their budget is going.
This is exactly like hitting a dartboard blindfolded and hoping that some of the darts stick on the board. Just spend and hope something sticks in the mind of your customers.
That’s why you need a marketing strategy first ! You need to understand some basics – at a minimum.
- Who are you targeting? This means truly understanding as much as you can about your current and potential customers.
- What is your proposition among this target and vs. your competition? Where do you stand out and where are you similar? Is there anything unique you can offer?
- What are your strengths, weaknesses, opportunities and threats (SWOT)? You need to take a closer look at your total business and do this SWOT analysis.
- What’s your objective?
Answering those questions is not a one liner; it actually requires enough thought and research . Once you are clear, then you are able to develop a marketing plan that will attract your target to your proposition. And that is what a marketing strategy is about !
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