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Featured Photo Source: Unsplash, Rachit Tank
Marketing informs one’s customers and clients about their products and services. When there is no marketing plan, how do your customers and clients know about you and your products and / or services? How one executes their marketing plan is more involved than just being aware of a company and its products and / or services. However, awareness is the first step in a branding strategy, which is a key part of the over all marketing strategy.
Often small business will know they need packaging, an advertisement or business card. But, there is no over all, strategic, well though out and researched plan to execute a prepared marketing strategy other than my product will have packaging and when someone asks for a card I will give them one. They often have several competing and conflicting marketing collateral that do not realize their goals, thought out or not, because they have not shared them with their designer much less a marketer and attempt to piece these things together alone.
Like many small business people they are good at what they do and even good at a few things more than what they do. Nonetheless, they are neither marketers, designers or advertisers who are good at what they do. Sometimes giving this part up to someone else is a difficult process for small business. But, once they do, they are typically very pleased with the level of expertise they allow to flow into their business. Some of the best ways to get to know these professionals: such as ourselves (marketers, designers and advertisers with expertise rooted in education, training and experience) is to read testimonials.
Another hurdle some small business must over come is cost. Understanding that part of a company’s over all budget should be set aside for marketing: bringing in and maintaining business is a concept that many small business have not considered. Medium and large size companies do think about these things and do set aside between 12 – 15% of their budget for just this. In fact, larger companies may do some if not all of their marketing in house (via an internal department).
Creating and sustaining market share takes an investment / setting aside a budget for marketing and also takes some work on the part of the business as they are indeed experts on their business and the most valuable resource when it comes to interviews by a marketer, designer or advertiser who will help carry the company’s message to its customers and clients. It is a true partnership that requires all involved to do their part and bring their expertise to the table.
Does your company have a marketing plan? Has your company conducted marketing research? How would you define your company’s brand? Does this change over time? Does it evolve or does it change?
Share your answers with the community by posting them below. Share the wealth of information with your colleagues and friends by sharing this article with 3 people today.
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