Of the many marketing pitfalls that threaten small and medium business alike, this is a common one.
A successful business now faces challenge to maintain growth. Its enthusiastic and dedicated management team brainstorm ideas to implement. Lots of energy is expended debating the right promotional campaign and marketing theme. “Let’s offer 20%-off next month” Or how about a giveaway? That was popular last time we tried it.
The preferred tactic is soon agreed upon. The duly appointed implementers are tasked with making it happen.
Some months later, as the team is repeating the process, it becomes clear the original challenge remains – the promotion seemed to work – but we have the same fundamental business issue. What’s gone wrong?
The answer is a lack of any coherent strategy.
Marketing is not (just) about designing campaigns… the fun stuff. It has to be grounded in a strategic purpose. Put simply, before you have any discussion on tactics, you first need to determine the goal – what is the specific outcome you need?
The hardest part is then finding the appropriate strategy or strategies that allow you to achieve that goal. The more specifically you define these goals makes that task much easier. Only then, when you are clear on the strategy needed, should you consider the tactics needed. Tactics are the various actions – the offer, the campaign – by which you can pursue that strategy. But on their own, tactics are meaningless, and can become misguided consumers of your meagre marketing budget.
It’s never a easy task, but taking time to build a solid strategy will make sure your marketing efforts are more richly rewarded.