Doing marketing right involves a lot more than advertising, promotion, websites, and lead generation.
It is not that difficult to spend big budgets on advertising, promotion, and lead generation. But, are you investing in the right marketing activities? Are you getting an ROI on your marketing?
To be successful your firm needs to have a sound marketing strategy for serving the right markets, selling the right products, and at the right price.
What Is Marketing Strategy?
Marketing strategy involves making smart decisions about attracting, serving, and keeping the right customers. Not every potential customer is the right one for your firm. A “we sell to everybody” approach just doesn’t work.
At the basis of every well-thought-out marketing strategy are these fundamental questions:
- Which markets do we sell to?
- Which markets do we avoid?
- What do we sell?
- What price do we charge?
- What is our differentiation?
- What is our Value Proposition?
- What are the best sales channels?
- How do we create awareness?
- How can we beat the competition?
As B2B marketing strategy consultants, we’ll work on finding the best answers to these questions for your firm’s unique situation.
The end result: a smart marketing strategy that improves your firm’s competitive position and that moves the sales needle.
B2B Marketing Strategies for Small Business
Before you start making decisions about the “HOW” of specific marketing programs and initiatives, you need to consider “WHAT” the firm needs to do to stand out from the competition and be successful.
Launching all kinds of marketing programs does not make a lot of sense if you don’t know what you’re trying to achieve or what the rationale is for that program why in the first place. Spending money on advertising and promotion is relatively easy. Getting results, not so much. Getting an ROI is even more difficult.
It’s a matter of focusing on doing the right things versus doing things right.
How mature is your Marketing Management?
Marketing Plan Development
Once the marketing strategy has been formulated – the “what” you’re going to do – we’ll work on creating the marketing plan. This is a detailed action plan that spells out the specifics of the “how, who, when, and how much” for all marketing activities.
The marketing plan is your company’s playbook that outlines all marketing activities, programs, and initiatives, including timelines, budgets, and forecasts.
Marketing Plan Implementation
The best marketing strategy is worthless if it’s not implemented. Success comes from the skillful execution of the marketing plan, monitoring the results, and making corrections where necessary.
We can help you with the execution of the marketing plan, coordinating activities of your in-house marketing team and outside marketing agencies you might be working with.
Don’t Need a Complete Marketing Plan?
If you don’t need a fully developed marketing plan at this time but could use some marketing strategies consulting advice on certain facets of your marketing strategy, we can help. We can conduct research and analysis in areas such as:
- SWOT & PESTLE analysis
- Market segmentation
- Target market selection
- Industry analysis
- Competitive analysis
- Sales & distribution strategies
- Advertising and promotion
- Lead generation planning
- Go-to-market strategies
- Product launch planning
Don’t hesitate to contact us if you have any questions about B2B Marketing Strategies for your small business.