Cart Before the Horse
Many new businesses fall into the “cart before the horse” mentality by taking on too much too fast. When this happens they attract the wrong type of buyers for the stage of business they are at. Either the products are not fully developed yet, or the pricing model is undefined. This creates a situation that is not ideal for the buyer and the business.
Establishing the Building Blocks
Establishing the building blocks of your business plan is a needed exercise before investing heavily into marketing. This is not to be confused with market research which is an essential step towards establishing your business marketing plan. I see market research as a pre-game activity however as you’ll need that data in order to fully execute a business and marketing plan that will be successful.
One of the key components to your plan is establishing your USP or Unique Selling proposition. You can read more about that process here: http://innovationsimple.com/general-marketing/your-unique-selling-proposition/
Once you’ve done your market research and discovered that you do indeed have buyers looking for your product or service, and you’ve separated yourself from the pack by defining your USP, now you can start looking at how you’ll invest your marketing dollars. You’ll be able to make better decisions when it comes to ROI, and match a strategy that fits your needs and industry. From online marketing to referral programs to traditional media, the opportunities are endless.
Are You Ready?
If you’re ready to see how internet marketing can fit into your business plan, give us a call at: 385-312-1555 and we’ll see if your business is a good match.
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