The Marketing Conversation You Need To Have With Yourself
When a business owner contacts me about their marketing, they have three distinct problems. Almost all small business owners find themselves trying to analyze the following business contentions.
Have you done any Market Research?
Market research will give you significant information about your business and your competition. In fact, market research should be the first step in starting any business. Yet, so many small business owners completely skip this step. The information you find in marketing research will be integral to your business.
So when small business owners contacts me for help with their marketing, my first question is to see their market research. And if there is none, my first step is to suggest we do their market research. If you want to take this first step, start learning about other businesses similar to yours. Learn about their pricing, their target, their marketing; just about anything you can find. How can this information sculpt your marketing strategy?
You are not following a marketing strategy
Most small business owners I speak to are doing some marketing for their business. Because after all, if you do no marketing then how are you getting any business? However, most business owners have no way to measure their marketing or can explain to me what kind of strategy they are following. They just know they are doing something.
If you didn’t already know, marketing without a strategy is not good enough. If you don’t have a plan or goals, how do you know what is working and what isn’t? More importantly, if you’re not completely sure what you’re doing, then how can you identify where your marketing money is going? There are so many reasons why you need a physical plan.
You are not measuring your marketing
Once you have a plan, you can measure your plan against the goals you have set. These goals will be more than measurable. These are your analytics and insights into your own business. These results determine where your money goes and how much you spend.
Most importantly, the results of your marketing will show you what works and what doesn’t. This will help you build your business as you expand on what does work and remove what doesn’t. As you receive results your marketing plan should evolve along with your analytics. No strategy is set in stone and no action had to be permanent so don’t be afraid to make changes.
Do you find yourself asking these three questions about your business? Do you struggle to identify any one (or all) three of these important business steps? Give Nixx Media a call today and we’ll help you get started.