The Marketing Conundrum
Marketing: The mix of paid-for platforms and publicity, combined with free, earned interest that sells your product or service.
Ask many a business owner and they will talk about their need to market more, market better and find new customers. This is particularly true of businesses with declining profits or market share.
This brings us to our marketing conundrum. A successful campaign requires a realistic and targeted marketing budget, something that is not easily available to a cash-strapped business owner.
Yes, there are plenty of great free marketing platforms out there, blogging and social media being the most prevalent. However, an integrated campaign, taking advantage of paid and free media, yields far better results and delivers a message that can be targeted at potential customers. For more about marketing and branding platforms, please take a look at our blog ‘Brand Activation for SMME’s.’
Although marketing, particularly on the online and social media front, is new territory for many small business owners, there are a number of old adages that can be applied.
1) Prevention is better than cure
A well targeted marketing strategy should be at the forefront of every business plan and needs to be analysed regularly.
Analysis should allow for a flexible strategy, with campaigns targeted to take advantage of market trends, current events and consumer wants and needs.
Having a well managed and continuous marketing campaign will ensure your business stays abreast of your competition and will help you weather the downs and take full advantage of positive trends.
2) You need to spend money to make money
To reach your full target audience you will need a realistic marketing budget. It is true that online marketing can be done at a fraction of the price of traditional platforms (print, billboard, TV and radio) but effective tools for online reach like Google Adwords and targeted campaigns on Facebook all require a financial investment.
For advice about a winning marketing strategy, social media campaigns, Google Adwords and targeted marketing campaigns contact our talented marketing team today.