In a ‘dog-eat-dog’ world where Corporations are pushing the small guy out, there is a great vehicle small businesses can use in order to dominate their market and leave the big dogs behind. By far the best way to achieve this, is by creating, developing and implementing a strong marketing strategy plan.
How To Beat The Competition With A Strong Marketing Strategy Plan
Here are two key features a marketing strategy plan must have:
1. Smart.
First, make sure your marketing is targeted, effective and results oriented. Be crystal clear about your target audience. Who belongs to your primary market? And who is part of your secondary market? Use demographics and psychographics, and improve your market research insights. Specify exactly the profile of your customers.
Second, you have to fully understand the benefits of your product or service to your target customer group. People often buy what they want, not what they need. This means, they have to understand the advantage of your product.
Third, define your unique selling proposition (USP). Why should customers buy from you? What’s so unique about your product or service? Competition is a great thing if you’re 100% aware of your USP. I’ve seen a lot of small businesses being wiped out because they competed on price alone. That’s often a big mistake if you’re a small company, because this is one of the biggest advantages a Corporation has.
Being smart means juggling with marketing, sales, promotions, brand, customer service, pricing strategy etc. Small businesses are flexible, fast and should use speed more often when implementing new ideas and tools. Business is all about speed.
2. Testing and proving.
Besides being clear, concise and easy to understand, a good marketing strategy plan should be flexible, constantly adapting to the changing business environment. Having a one year plan is great, and adding a three or five-year plan is even better. Be aware of the problem your business solves and keep asking your target market what their needs are. Highly successful businesses are not afraid to ask their customers. They will tell you exactly what they want. It’s a great ‘pretest’ and it saves your business loads of money and time, making sure you’re constantly on track.
Keep the strategies that work for you. Strengthen and improve these continuously. If something doesn’t work, drop it.
Our business world today, more than ever before, needs passion and humanity along with great products, services of high quality and there is absolutely enough customers out there for everybody.
Business is a game. The question that arises is ‘How are you playing this game?’ Are you playing to win or are you playing not to lose?
If you’re playing to win and are a fan of the Win-Win game, than strengthen your marketing strategy plan now.
“A Fool with a Plan is better off than a Genius without a Plan!” – T. Boone Pickens
Understand your customer and always be up to date with what is happening in the environment in which you’re operating. When somebody sees threats and walks away, your strong plan will give you confidence to see opportunities.
Article Source: Published first on Ezine Articles, Author Krisz Rokk
Image: Canva
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All there is to say to this article is – PERFECT. I have rarely seen such valuable content brought across in such a clear and concise way. We all know the points listed and yet don’t realize how life-changing they are for your own business. Stratgic entrepreneurs see opportunities in every challenge. A taylored marketing plan is essential to a successful business. It is not about size. It is about following your passion with a plan.
Great post! I agree with Anja your post is clear and to the point.
The quote you have used certainly adds impact to your post – “A Fool with a Plan is better off than a Genius without a Plan!” – T. Boone Pickens.
I know from pass experience that trying to move forwrad by taking a shortcut and not creating a plan is a “false economy”. Going through the process of creating one saves a lot of time in the long run. 🙂
I love it! There are soooo many great nuggets within your two main points. I love your layout for the “Smart” section. Points 2 & 3 are huge! I see a lot of Entrepreneurs skip those two in their marketing copy! It requires pulling away from your product and thinking about it like a customer. I often have to remind Entrepreneurs that customers aren’t interested in “the process” you offer, but the results and benefits your process provides.
Great Post!