HOW to create a marketing strategy for your Small Business, template included!
Imagine hiking up a trail and hitting a fork in the road, which way do you go?
Creating a marketing strategy is like having a map to show you which way to travel. Don’t hit that fork in the road and guess which way to continue, plan ahead!
Before we start on the specifics of a marketing strategy, I have provided a template for you to download. The template is a very basic version of a marketing strategy but will help give you a head start on your marketing.
Simply hit the follow button, we will send the templates with instructions and recommendations on how to create and implement your strategy.
Ok, let’s get started. To complete your strategy it will take a little research but it will be well worth it.
Begin by determining your business goal for the next 12 months. Why is this important? To be successful in business you must stay ahead of your competition, right?
Well, first you have to determine your competition and the scale of their business in comparison to your business goals.
For example, you have just opened a boutique clothing store and your business goal is to turn over $250,000 in sales in the first 12 months. With this goal in mind, you would select your competition based on the scale of your business.
You are not competing with the likes of Myer or David Jones yet so why research their marketing efforts and try and compete with them?
Pick your competition relevant to your scale and plan to get ahead of them first. The most common mistake small business owners fall into is trying to get too big too fast.
Remember “A building is only as tall as the foundation is strong enough to build on”
Define a business goal that is relevant and achievable with your business. This can be as descriptive as you like and should include expected turnover/revenue, number of customers, Facebook followers, feedback rating or how many employees you will or expect to need to achieve the business goal.
Follow my blog for the next step of the process or simply return here tomorrow as we progress on to defining your competition, using our competitive analysis template.