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Memorable for all the right reasons!
Memorable because it effectively communicates a Company’s value proposition that achieves a competitive edge and the desired outcomes.
Simply put, a Marketing Strategy is a Company’s approach to promoting itself, its ‘brand’ to a target audience using a process that involves research, goal-setting and positioning.
If you are a small Business you may be asking yourself, pondering, what does this all mean, the cost, time and effort involved and how do I go about it.
Don't worry, whatever your Industry, or Business venture, if big or small, there are some basic principles to developing a 'winning' strategy.
Here is a Guide.
Firstly, let's look at the marketing mix also known as the 5 P’s of Marketing,
- Product – your product or service, design, features & benefits; branding & packing; service & warranty
- Price – what the customer pays; offers, discounts, price matching; credit, payment terms
- Place – locations of purchase, e.g. Instore; online; delivery arrangements
- People- customers; staff; Suppliers; Partners
- Promotion – the activities and methods used to raise awareness of your Business. How you promote can vary depending on the customers you want to reach.
Next, take action!
10 Tips for creating your ‘memorable’ Marketing Strategy:
- Create a unique value proposition: a USP is the reason customers buy from you and not your competitors. This is all about what makes you, your product, unique. Simply, what you, your Business do or provide differently, what you stand for and convey why it, you, deserves their custom. Proudly promote your brand.
- Know your audience: importantly, understand their needs and wants. Profiling will help your marketing efforts e.g. identify demographics, shopping behaviours, locations & lifestyles. (STP), Segmentation, Targeting and Positioning help craft more relevant, personalized messages to target audiences.
Where has the year gone! As December closes upon us, this is a common statement heard over coffee, in the lunchroom and at BBQ’s! And usually followed by asking ‘what have I done, accomplished or achieved’!
Next, there is silence, angst or critical analysis!
Rather than dwelling on or dismissing the topic why not turn it around with thoughtful reflection. Reflection is looking back, learning from past experiences, to review without regret or remorse, celebrating successes and going forward better informed and energized.
December is a good time too for small Business owners to reflect, review and reboot!
Keep reading for the 9 Questions of Reflection challenge!
Simply put, reflecting, auditing, planning and preparing based on the past year will set you up to find and enjoy fulfilment and success in the coming year.
- Reflect: press the pause button and reflect on what has transpired
- Review: Identify what worked and what didn’t. Were goals achieved; milestones met. Who, or what contributed to success or didn’t. Give thanks and recognition to those who have been with, your Team, Suppliers, friends.
- Reboot: re-charge your batteries, refresh and plan with renewed zest and energy.
Now, challenge yourself and ask the 9 Questions of Reflection:
Getting away, holidays, travel it’s easy for some, simply, plan, book, pack and go!
But what does it mean for Family Business owners. How do they take time off, get time away from the Business to take a much-needed holiday!
Who takes care of Business when you and family members are all away!
It's never easy, particularly if you are an enterprise that can’t simply shut up shop and head off.
And there never seems to be a right time to take a well-deserved break. Always needed, Family Business operators tend to be the Business, investing time, hardwork and their passion. Exhausting and consuming!
But evidence shows we all need time to get away, to recharge, re-energise and gain a fresh perspective. Owners like employees need work-life balance, with longevity and the health of self, Family members and the Business critical.
When and how to plan and take vacations will depend on circumstances.
For example, factors including, business structure, type of Industry and location are key considerations. Some Family and small Business owners may decide the Christmas or Easter periods are family value special times and choose to close shop.
This arrangement will be widely advertised in advance, with pre-orders taken and delivered to counter time-away. Importantly, customers are warmly acknowledged thanked for their patronage, present and future. Other operators may take their vacations during slow or off-peak periods.
If you are one of the other Family Businesses it might be a balance of getting away with some check-ins. Importantly it’s about planning what your ‘accessibility’ is or isn’t!
Getting away! How to make it happen?
Try these 9 Simple Steps
- Pre-Plan leave with Family and Staff
- Prepare your Team
A Message to Business, Employers and Employees
Enjoyment starts by being wise, remembering what is in good taste, and that ‘normal’ acceptable standards of behaviour still apply.
Simply put, adopting an ‘everything in moderation’ approach you can make it an enjoyable and memorable time without embarrassing yourself or others. Adopt ‘in moderation’ at all functions, whether under the mistletoe, on the dance floor, or at the ‘free’ bar.
Social gatherings, get togethers with family, friends or at Workplace events, following these steps will help keep you and your colleagues in a merry but safe place. Have fun, celebrate without regret, remorse or loss of reputation.
6 Top Tips – How to Enjoy the Party without Regret:
- Take control: Set the scene and mood by taking responsibility for your behaviour, actions and words.
- Avoid starting the occasion with early alcoholic ‘shots’ and over-embracing the party spirit. That can take you on a path of self-destruction.
Building your Business with a Centre of Influence Strategy
Influence is power!
We can influence and be influenced!
To begin consider these key questions,
- who are the key players that influence your Business?
- is your Business built on referrals as a valuable source of growth?
- are you always looking for sources of prospecting to attract new customers to gain income and market value?
Let's look at this more closely.
Influencing others begins in the Business, the first source of influence is you!
Your leadership, leadership by example is the benchmark built on critical skills: organizational intelligence, team promotion, trust building and leveraging networks. Skills that when applied have the ability to positively influence. You and your Team can use them to effectively influence others.
Harnessing the power of influence. On a broader level, in today’s operating climate one strategy is finding and leveraging the power COI’s (‘centres of influence’) or simply Influencers. These are people connected to or around your client group making them well placed to potentially engage, refer or introduce you to new customers, markets or prospects.
What influences your Business?
Who, what do you rely upon to help make your Business successful, to grow.
Your Accounting Partner
Your Management Accounting Partner
Your Expansion Engineer
Your Special Projects Partner