Why a marketing strategy and a plan is vital for small business growth
I’ve coached numerous small business owners over the past fourteen months, and the number one thing that they all having in common is, they don’t have a marketing strategy or plan in place.
Later in this blog I will share a case study on how a beauty salon owner I have been working with his increased her revenue by 37% by getting really clear on her offer, and building a marketing strategy and plan.
Why is a marketing strategy and plan important?
A marketing strategy is your overall plan of action for your business, on how you will reach potential customers and turn them into customers of your business. Your marketing plan is the tactical steps that you will take to reach your goals.
What does a marketing strategy and plan consist of?
A marketing strategy has four key components to it:
- Goals: Set business, sales, new customers and marketing goals. You need to have some metrics in place that you can track.
- Ideal Client: To truly understand your ideal client you need to do some market research and use the results to build your buyer personas.
- Point of Difference: You need to have a point of difference that is both unique and meaningful to your ideal client. It must help your potential customers solve a problem or meet a need.
- Content Plan: Think of content as the voice of your marketing strategy. So you need to build a content plan taking factors into consideration such as the content format, the content purpose, and how can you re-cycle your content to re-purpose and use at a later stage.
The customer needs to be at the centre of everything that you do, and you will build a plan based on attracting potential clients, engaging them and delighting them into becoming long term loyal repeat customers. This is show in the FlyWheel by Hubspot:
Use your market research findings to build your marketing plan
The next step is to build your marketing plan. So you need to map out all of the touch-points where you are going to have a presence to get in front of your ideal client, to help them move along their buying journey. And to ultimately choose you and your business as the only choice to solve their problem.
Your market research will help you to uncover the following information:
- What social media channels do your potential clients use?
- How do the research about products/services?
- What information do they use to make a decision?
- How to they compare brands?
- What are the key attributes and factors that help them decide one product/service over another?
Once you have built your marketing strategy and plan you then have the option of outsourcing your marketing or learning how to do it yourself, by hiring a mentor.
CASE STUDY : How hiring a marketing coach helped this beauty salon owner increase her revenue by 37%
Through the marketing coaching part of my business Vivacity Marketing, I have been working with the owner of a beauty salon Alicia, for about eight months now.
- The problem: When Alicia approached me she was operating out of a home salon and she was keen to move into a premises, re-brand and attract new clients. But she didn’t know where to start.
- The approach: The first thing to tackle was to develop a marketing strategy and plan based on the available marketing budget. We did the re-brand, built a website, re-branded her social accounts, researched her ideal client and got really clear on her service offer and pricing.
- The result: She moved into a salon, launched her website, and has increased her revenue by 37% month on month.
- How did she achieve these results: She identified where her knowledge gap was, which was marketing her business, and she found a marketing coach that she could work with to help her solve this problem.
Marketing School: Your online marketing coach
I want to help hundreds of small business owners like Alicia who are feeling overwhelmed and just simply don’t know where to start with marketing a small business.
So with this in mind I am launching Marketing School at the end of October 2018 which will be an online marketing coaching membership with video coaching, homework, workbooks, accountability buddies, access to me, and group member meet ups too.
If you are struggling to know how to effectively market and grow your business, and get in front of the right people with the right message than take a look at marketing school here, and see if it might be right for you.
Author — Vanessa Geraghty McGann, Founder of Vivacity Marketing.
Vivacity Marketing — Helping you build a vibrant business.