It is safe to say that the majority of the existing strategies that have been developed for small businesses (SMEs) as well as some of the larger corporations were originally developed before rise and rise of the internet in our personal and professional lives.
Now we have to deal with Search Engine Optimization, Social Media Marketing, Mobile Optimized Websites as well as the widespread use of Mobile Apps. The point being that to be successful, long standing business strategies need to be modified accordingly or said another way, the online strategies that are developed need to be done so by incorporating more traditional [offline] strategies into every activity that takes place on the internet.
We like to stress the point that it is not about ranking a video on YouTube, or even ranking a website in Google, or about how many tweets that are put out. This is how we differentiate our services to clients when it comes to working with them to develop their go to market online strategies. It all starts by understanding their core business strategies, i.e. their :-
Channel Marketing Strategies
Category Marketing Choices
Lifetime Client Value
Unique Value Proposition
… and the list can go on and on, the point is that using the internet does not mean that these core business fundamentals change. This is why we caution businesses that even if they do not work with us, they need to vet carefully who they work with.
The person or company who is the best technically may not be the best at making sure that your business’ marketing strategy is appropriately conveyed via online internet activities in relation to your business.
So in conclusion : your business’ strategy may well need to be modified accordingly to ensure that the internet is incorporated, you as the business owner do not need to know everything about how this is done but you need to make sure that whoever you use understands marketing fundamentals as well as the ins and outs of how to incorporate the internet in the go to market strategies of any corporation.
This is our specialty which we look to continue to develop, any question, comments or thoughts, feel free to get in touch.
One of the most common questions that I get asked by those who are starting out in business; also by those who have been involved in business maybe for some time who maybe running a functioning business and making a decent living is : ‘just how to I actually go about developing a marketing strategy’ ??
At a recent networking event when speaking a business owner who by his own admission if well versed in the technology of his business (but not in the marketing) I spoke of the three pillars that I use when thinking about, explaining and developing a marketing or business strategy. They are :-
Channels To Market
… that is to say, we work on defining the category of the market that the Product or Service fits into, we then work on the marketing Channels. When it comes to channels we consider the channel that we use to deliver the product or service to the marketplace and secondly the channels that we use to push the message to the marker place through. And finally, we have to ensure that our preferred market segments are at the end of the channels that we use. That is the essence of the framework that I work through when refining and developing a marketing strategy.
Now, let’s assume we are you are selling massage therapy services [as one of my previous clients were]. For sure the channel for delivering the service would be in the therapist’s salon but they business owner will have many options in terms of channel marketing for delivering the branding message and services of the business to the market place at large. They can use direct mail, blogging, mobile, articles, newspapers, radio and more to deliver their message to the target market.
Next, we need to ensure that our product/service is positioned appropriately in terms of location, offering and pricing – a particular segment of the market may wish to pay say $15/hour for a massage but other high end clients may be perfectly happy to pay $100/hour if they see the value in what it is that you have to offer. The question is – which market segment is it that you will choose to target ? If this discussion we have covered the market segments and the category of the market that we wish to be positioned in.
So there you have it – an insight into my methodology for developing marketing strategies whether working with $multi billion clients in China [Swatch Group] or with a wedding reception services business such as http://www.lowcostchaircovers.co.uk/ that I consulted for last year.
In summary we want to be thinking of Channels, Market Segments and Product/Service categories.
To your marketing strategy development success,
Let me know if you wish to engage with myself and the team to assist you in your business.
I had an interesting conversation today with a colleague [Mark Stonham] and we were discussing business strategy development and the conversation, for a while became centred around the internet and that of digital marketing. It was then that I started to talk about my concept of how I feel the internet should be viewed and positioned as a key component of a company’s digital [search engine and social media] marketing strategy.
Those of you have read my thoughts before will know that I position the internet and that of digital marketing as a [nother] marketing channel that business, companies and various organisations looking to market their products and services are able to make use of in order to get their marketing message out to the world at large i.e. their target market customers that would have been defined during the business strategy development phase, this particular marketing channel can be used to collect market intelligence, survey customers [nowadays this can be accomplished making of of chatbot marketing] as well as being used to deliver the products and services [or a digital component] of the company to the client.
I also went on to stress the point that I believe that not enough attention is paid to segmenting the internet itself as a channel to market.
What is the exact meaning behind the statement I make above ? well – the internet and digital marketing itself provides multiple sub channels that can be used to communicate with – there are many that can be used for marketing execution for sure but for brevity some of them are :-
social media marketing
… it is through these marketing channels that we as marketers and business leaders need to make sure that we communicate effectively with those who are to become our customers. For that to happen those clients must be interfacing with us through specific sub digital internet marketing channels.
It is here that I can see where many companies are potentially making costly strategy development errors in not taking the time up front to develop their digital internet channel marketing strategies. It is here that they will be told which internet sub channels their clients are interfacing with most and direct them with respect to how much effort, time and energy should be directed towards any one or multiple internet marketing sub channel.
Having said that, I do understand that there are many social media marketing experts that push the idea that using this form of marketing on the internet is all that is necessary – needless to say, I disagree as …
Strategy should precedes execution
… and this stands true for marketing on the internet as it does if you were to be selling products and services into a new country. As always, I hope you find this useful – and do feel free to hit the contact button above and get in touch if you would like to discuss business consulting, training, coaching, speaking or mentoring services.
This is a critical question that is being answered on a daily basis by the most successful corporations, small business, entrepreneurs as well as marketers around the world. This extremely important topic of promotional marketing is one that is relevant for every business and the point can be stressed that it does not matter no matter what industry ]niche or market segment] or size of the organisation for that matter. In other words the question to be answered is that of :-
what is you Promotional Channel Marketing Strategy ?
… of course, we know that when we speak of Channel Marketing this particular aspect of business development can readily be split into two main categories …
1] That of delivering the company’s products and/or services to the end user customer market place and …
2] The specific channel that may be used in order to promote the company’s products / services.
In some cases a company may choose to use the same go to market channel for both the consumption and the delivery but in many cases there will need to be a careful blend of pushing the message of the organisation through specific channels and, using various channels more than others and therefore driving customers to take specific actions in order to get them to enter the top of the marketing funnel.
One of the best things any business can start to do any time is to take some time out and take a blank piece of paper and consider the blend of marketing channels that they are actively using to promote products and services to the world at large [chosen target market segments].
The blend of and between marketing channels is critically important as the combination that is used will in fact be based on the results of the market segmentation development activities in line with who you the company is selling to and where [in terms of marketing channels] they congregate in terms of what the best medium is to use to deliver the unique value proposition’s message to them.
This is but one small part of a component of developing a business strategy.
Thoughts, comments ? want to work together [nationally or internationally] ? feel free to get in touch.
The product is a no-frills, and straight-to-the-point marketing book. This short, 24-hour get-up-and-go product. It is designed to help you start making money on-line and using other methods. Practical marketing only has a few keypoints. We hammer home everything you need to get started – SUCCESSFULLY!
I have met with a few prospective clients over the past weeks, there is a standard process which I go through when determining if I am the right person to be working with the customer, and also to determine whether or not the customer is in the right place to grasp and implement some of the World Class strategies which I will introduce them to should we work together.
As in 9.9 times out of ten, I find that people launch their business being very good at producing their product or service – however, they often have very little idea about marketing, the marketing process, terms such a market segmentation and category marketing. I take some time to explain some of the most basic concepts of marketing and as I have spoken so many businesses I cannot recall how many it is always interesting to see when the fact that marketing and business strategy is a skill and discipline. A discipline which is to be learnt through education and action, just like any other skill ye; it is amazing that people stake their whole future on running a business and it never crosses their mind to spend but a few thousand pounds on working with an expert to developing their marketing strategies to help them grow their business in the years to come.
It is my desire to increase the number of consultant in our company and to get the message over to more and more small and work from home businesses that, Marketing is the Heart and Soul of their’s and any other business.
If you are running your small business, read as much as you can about the process of marketing and even better, get in touch and let’s talk about how I can craft a world class marketing strategy with full Internet Infrastructure Development to take your business to the next level.
The businesses which set themselves apart from the rest are the ones which constantly innovate and implement creative sales and marketing strategies in order to ensure that the company’s product and services get to the end user based upon the actual profile of the end user customer. The company’s which generate the most revenue are the ones which define their marketing channels and also carefully define the profile of their end users. In order to do this company’s constantly update their business strategy and tweak their sales and marketing strategy so that the constantly changing marketplace does not leave them moving in the wrong direction.
Where can the work from home business person go to improve their sales and marketing and business strategy skills ? Well, the internet is the place to turn to there are some great resources out there and the business person should certainly set aside time to develop their business skills. Look at this as a professional sport and strive to be the best as you can and follow proven strategies and have your marketing channels defined along with you market segmentation and provide the best service as possible to your end use customer.
Now many new business persons or entrepreneurs are willing to make money via websites. But they are afraid to pursue their investment in a niche-market because they fear they will not be able to win significant business in this field. But right advice from experts will make a shift in your perspective. It is really hard to stand out in any market without a distinctive set of prospects in mind and expert advice. I.E. you should always be thinking about which segment of the market you are targetting with your product or service.
This is the essence of Niche Marketing and Market Segmentation and you be constantly refining these strategies to seperate yourself from the competition.
That’s all from me for now, to learn more about business and business strategies – visit :-
Every company or small / home business exists for the purpose of providing their product or service to the market place. With this point in mind it is sometimes baffling not to mention amazing that a great deal of businesses do not spend time on market segmentation (or niche marketing and we will use the terms interchangeably) as a regular part of their business strategy planning sessions. Failure to focus on implementations of market segmentation essentially means that the given business may well end up selling their product or service into a section of the market place which is not as good as a fit as it otherwise could have been. To develop your Market Segmentation or Niche Marketing strategy consider the following process steps :-
Determine which set of Market Segmentation criteria you will use within your company for a specific product or service. You can segment the population by Age, Race, Earning Capacity, Geographic Location, Skin Colour, Language Abilities, Marital Status and so the list can go on. You need to determine which set of characteristics you will use to determine you target market.
Determine if you need to further segment any of the major categories identified above. E.G. you may identify Music Lovers as a segment of the market however, on closer inspection you may find that you need to further segment by classification of music, Jazz, Rock, R&B etc and the list can go on.
Consider which section of the population fits with your product or service, E.G. you are selling a sports car with two seats which costs in excess of $60K. Would you spend thousands of dollars sending out leaflets to young mothers with children at school or would you go to college campuses to target postgraduate students ? Of course not but in effect this is what many small businesses do.
Look for the group of people within society willing to pay you the maximum amount of money for your product or service.
Stand from your company’s point of view the landscape which is called the marketplace, this will help you to determine who your ideal client is.
In summary, there are various components which make up a marketing strategy, niche marketing or market segmentation strategies play a major part in the overall marketing strategy of any organization or small business. Use the process above as a template for your niche marketing planning exercises, this will chang ethe way you approach your business in the future.
To setup and run your business and achieve success it is imperative that the business, no matter what business it is – whether you are a Makeup Artists, Painter & Decorator or Interior Designer; your business must be structured around a flexible marketing strategy plan. You Following the steps below will provide a platform on which to build your business.
I have found that out of the many things one can focus on when determing the company’s marketing strategy is pay to focus on the following four areas :-
Ideal Client Profile
When working on your business focussing in on these key points will serve you will to take your business results to the next level. To learn more about business and strategy visit http://www.businessmansencyclopaedia.com/