As business owners, we’re adventurers, explorers!
Just like Indiana Jones, the epitome of adventure, we as entrepreneurs face many obstacles along the journey towards our end goals. Despite seemingly never ending slew river crocs and booby traps, the goal never changes to get to our destination; we must first know where we’re going.
Along the way, Indiana Jones gets tempted by many shiny objects, but those are distractions. Your Marketing Strategy likely needs a Roadmap to keep you on track.
How many of you are just like “This Twitter thing seems cool…Let me try that! Or “Hm, I might take an ad in this magazine. Might work…”
That is Indiana Jones getting distracted by shiny objects. Stay the course!
Start and end with the goal in mind. Actually take a pencil out and write down your road-map. State your goal, and then work backwards.
Is your goal 100 new customers by next month? Is it to generate $10,000 in sales next month?
Okay, let’s say it’s to get 100 new customers, right?
What’s the best way to reach those 100 new customers? The answer to this question IS your Marketing Strategy! The method you choose to reach any stated goal is a strategy.
Okay, so 100 customers…
Depending on your business, the best way might be to rely on referrals, for example. For an ice-cream shop in a heavily populated city area, I’d have some very energetic, friendly brand reps handing out samples on a hot day. You’ll get 100 new customers pretty quickly! I think the strategy of direct marketing is obvious here.
If I’m a lawyer, I’m relying on referrals and education-based marketing. Hiring a lawyer is all about trust and if I put forth effort towards building that trust with potential clients (either through referrals or providing very useful content), then I’m more likely to reach those 100 new customers.
Let’s not get it twisted, though. Marketing Strategy isn’t just “Ways to get new customers”. Goals precede strategy, thus the aforementioned examples only included Marketing Strategies such as “Ice Cream Sampling” and “Lawyer Referrals” because the goal was to get new customers.
What if your goal is to “To Increase Overall Profitability”? Well, your Marketing Strategies (your roadmap) changes accordingly.
If your goal is to increase profitability, then a lawyer has many options. They can choose to cut costs (usually a bad idea), go for new customers, leverage current customers, or rebrand as an exclusive service.
If possible, charging a premium for an exclusive service is usually the best Marketing Strategy when trust is a crucial component of the sales process. Now, that we’ve defined the goal (Increase Overall Profitability), we can then determine the best roadmap (our Marketing Strategy) to get there, which may be to “To Rebrand Law Firm as High-end, Exclusive Service”.
Everything from that point forward is Marketing Execution or tactical. Charge higher prices, change logo, make free consultations “exclusive” or “referral only” etc.; these are all ways to help a company rebrand as an exclusive service, thereby increasing profitability since you can now charge higher prices.
1. Get Your Indiana Jones on and State Your Adventurous Goal
2. The Best Way to Reach “X” Marks the Spot on Your Roadmap = Your Marketing Strategy
3. Everything from that point forward is Marketing execution and is tactical!
To speak with me about how I can help you go to the next level and beyond in your business.. simply head to the contact page and send me a message.