Thoughts and ideas for small business development and growth
Blimey, further proof that marketing is radically changing. Just this week Google announced its latest advertising revenue figures that are set to overtake ITV’s, here in the
I think there are a few harsh realities out there that we still haven’t got to grips with. As controversial as that might be here’s a few to get you started and stimulate debate:
We don’t think about marketing enough. I’ll explain. We go head long into a plan that usually takes the form of traditional marketing without planning or researching it thoroughly. Advertising, networking (the actually meeting people face to face variety) and direct mail are the most common. We spend lots of money and then wonder why it didn’t work. Plans that clearly state a return on investment for marketing activity are a must.
We develop marketing approaches that look like a weak universal appeal rather than niche focus and clearly communicating our offer! Even if our products are boring, it’s our job to make them exciting!
Lots of small businesses seem to think that they must sell price as the differentiating factor in their product/service offering. In fact, it’s about how you behave as a brand that’s now important. Brand is about trust (and so is the internet), the new business world is more about open and trusting relationships with customers and staff, which in itself means more transparency. Imagine that!
Marketing isn’t about telling people how good you are. The customers a lot more informed and sophisticated than that. We’ve gone beyond just communicating with customers and moved to having conversations with them. That’s about developing a dynamic relationship and above all getting them involved with what you are doing and developing.
Small businesses haven’t run out of ideas, they just struggle with executing them and don’t differentiate themselves enough! We all look too similar; the products are the same and we sell ‘quality’ too much. Creative marketing campaigns are too rare. Your market place will be typically crowded so it’s more important you stand out.
Traditional marketing has been dead for about 15 years. Some of us are slowly turning our back on the traditional advertising solution, however, many of us can’t see the wood for the trees or is it we’ve just lost sight of what’s in front of us? Those of us who run small businesses don’t have much choice nowadays. As a client of mine said recently “You have to grow really big or go niche.” Drifting along isn’t an option.
As Seth Godin www.sethgodin.co.uk (I like this guy a lot) says “Alternative approaches aren’t a novelty – they are all we’ve got left.”
The key question is what in your product/service portfolio is clearly different, unusual even curious in your market place? Do you provide it and if your answer isn’t convincing enough to you, you might have a problem.
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