Marketing strategy howard litwak

Perhaps the most important part of small business strategy is marketing.  After all, if you don’t have customers, you don’t have a business.

Marketing strategy is what gets you in front of prospects.  Then sales strategy takes over.  Because the funnel needs to be full in order to thrive.  Period.

Hence, if you want to increase your volume, marketing strategy is the key.

The Strategic and the Tactical

Marketing strategy has two parts: strategic and tactical.

The strategic hones in on your market and your messaging.  It clarifies who your ideal client(s) are and where they are. (Demographics)  Also why they buy. (Psychographics)   Effective messaging can be created only after these are defined.  Messaging is what makes you attractive to your prospects.

For this reason, you’ve got to get your demographics and psychographics right in order to have an effective message.

A deep understanding of your market allows you to tailor your marketing to the needs and wants of those specific segments.  With this in mind, it positions you to compete effectively.  And to work towards dominating your space.

Jumpstart your strategic marketing thinking

Here are a few things you should have answers to at least:

Who is your ideal client?  (Demographics- i.e. industry, geographic range, size of business, # of people, etc.)

Why do they buy? (Psychographics- i.e. needs, desires, preferences, wants, demands, etc.)

What separates you from your competition?  How do you say this in a way that uses words that your customers use?  And that your competition does not use.

Consequently, move to the tactical or the “How To” once the strategic is defined.

The tactical is deciding and executing on what your marketing mix will be.  The good news is that there are only a finite amount of tactics available.  Such as social, networking, advertising, special events, PR, etc.

Your market segments  will dictate what the best tactics will be.

With a focus on market segments and messaging, you will see more opportunities.  Nail strategic and tactical marketing and you will spend more time selling.

As long as your sales process doesn’t suck, you will grow your client base, increase your volume, and be more profitable.