Why do SME’s need a marketing strategy?

Jul 31, 2020

Okay, so it’s the start of the month you have your monthly catch up with the team, and the dreaded marketing conversation comes up. What are we doing this month? What have we got planned for social (groan), who is doing it this week? Are there any advertising deals out there? Let’s just tick a few boxes and cross our fingers something sticks. 

Instead of taking a strategic approach, most SME's marketing efforts are the result of off-the-cuff, reactionary thinking. This leads to owners not knowing what works or what doesn’t work, sucks time and energy that they would rather be spending on doing what they love, and basically leads to a waste of money and a huge amount of frustration.

If any of this sounds familiar, I highly recommend you take a step back… and that “step back” involves creating a strategic marketing plan. Developing a marketing strategy is your best chance at success, and here’s why.

It gives you the framework to reignite your passion, figure out where you want to take the business and why. Who you want to serve, how to engage with them, and how to turn them into raving, paying, customers.  It lays out the foundations for all your marketing. Especially for SME's that don’t have a lot of time and resource, a strategy makes all your marketing decisions easier.  It keeps you focused and keeps you on track to reach your business goals.

Consistency, connection and clarity are the key principles for marketing. Once you have a marketing strategy these key principles will fall into place.

  1. Revamped and refocused passion for your business
  2. Where you are taking this business and how you are going to get there
  3. What you stand for and your brand's voice
  4. Who you serve and how to get in front of them
  5. What your secret sauce is that will draw your market to you, rather than your competitors

This will give you an edge over your competition.  As small business owners we know that marketing is a crucial element to our success. But in this ever changing world of marketing it's s easy to feel lost and overwhelmed.  That's when you go back to the strategy.  Refer to it, live it, breathe it.  Everything will become clear and you can set off to conquer your business goals. 

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