Brought to you by Birch Mountain Integrated Marketing Group
Small to Mid-sized businesses (SMEs) have in many cases more marketing challenges then larger enterprises. Often times the owner of a SME is also the Chief Marketing Officer. The daily needs of running a business can distract the owner, the CMO, from their marketing responsibilities and focus solely on staying in business. Our mantra is simple, “marketing is a profit center” and when you follow this mantra, staying in business concerns become manageable, achievable and result orientated.
Thad’s Tip One:
Prior to selecting media channels, consider your firms overall marketing objectives, goals and develop a business plan which will lead to a marketing/business strategy. “Strategy first, tactics second”, a second critical mantra to remember and follow!
How do you develop a business plan and a marketing strategy?
There are a variety of steps, suggestions but you always first need to define your business goals and objectives, before considering developing a marketing plan.
This first step is often achieved via a mission statement or better still an elevator speech. A mission statement is a more complex, detail statement that will provide prospects, existing clients who review the statement with a clear, defined and fully understandable concept of what you, your business will offer.
An elevator speech is a short to the point (some say less the 7 seconds in length hence the name) summary of what you do.
My firm’s mission statement is: Birch Mountain Integrated Marketing Group is a highly successful integration of demographics, messaging, narrative, media, response/results, based on selected, targeted marketing solutions, developing result orientated marketing strategies for your small to mid-sized business (SMEs).
My elevator speech goes like this: Birch Mountain Integrated Marketing Group is the INTERSECTION OF MARKETING AND PROFIT and believes that Marketing is a profit center!
Need more, subscribe to my weekly business brief, The SMEs Business Brief, email me at: firstname.lastname@example.org.
The SMEs Business Brief - Brought to you by Birch Mountain Integrated Marketing Group!
Volume One Issue Two
Did you develop your mission statement, your elevator speech? Not as easy as it sounds, but once correctly developed this effort can reap endless benefits for your SME.
Tip two; builds off your mission statement and your business plan. When developing a marketing plan you need to develop a marketing workbook that is based on these four key components.
· Know your market
· Know your customers
· Know and understand key response-based media
· Know your numbers
Knowing my market
My marker is defined by the simple term “Small and Mid-size Enterprises” or SME’s, a term that is widely used and is nearly perfect for my needs. Add the term regional (Regional Small Mid-Size Enterprises) and it is a perfect starting point for my marketing plans.
Knowing my customers
As much as I would like to support every marketing need, there are many firms that I just cannot assist. Firms that are traditionally known as “Mom and Pop’s” are difficult to support since they have limited time and in many instances their market is unaffected by integrated marketing, excluding sales promotion and other engagement or pull strategies.
What media can I, should I use?
Media selection and usage is a big part of the puzzle. What social media do you use? Do you use direct mail, email marketing and other forms of media? Allow me to offer a simple solution, which I call the herding factor. Follow and select the media used, supported by your customers or prospects, and sometimes look to your own use of media for advice.
Numbers, it is all in the numbers.
Someone once told me that data has no emotion, numbers as well, but your message has emotion and when used in tangent with data, you can impact the effect of emotionless numbers. You need to understand (and except) your vertical response rates, conversion to sales, and your return on investment (ROI) and return on resources (ROR).
Next tip, understand the Strategic, Operational and Tactical segments of marketing.
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