The Lie: I don’t have to do any marketing because I have plenty of customers right now. I’ll “do marketing” later.
Many business owners seem to think marketing is a switch that you turn on and off, as you need. They believe that new customers and opportunities for revenue are only a few turns of the marketing spigot away. Invariably the well runs dry, and are faced with declining revenue and profit, no prospects, and worse; stuck with customers they want to fire but cannot because they have no others.
The truth: Marketing is a core business system, just like the other business system in your company.
A system is something that is repeatedly done to produce consistent results. If I do A and B, the result will be C. This type of system will build the consistency and predictability of results that most business owners want from the marketing. In order to achieve the results, you have to be constantly and continually managing your marketing system and seeking to improve it. Tracking the results against your expectations will allow you the practice of measured execution; monitor and refine execution on a continuous basis.
You would not turn your Accounting system on and off, or Operations, or Human Resources. Doing so would have an impact on your business. Marketing is the same.
“The action: Establish a plan, calendar, and budget based on your marketing strategy.”
In order to establish marketing as a system in your business, you must first develop a strategy. Your strategy will identify the reason your business exists (your purpose), the thing that your business does that is uniquely different from your competitor (your difference), and those who appreciate your product or service (your ideal customer). Identifying these critical elements will allow you to build an action plan for attracting ideal customers, and most importantly, the calendar and budget you will manage to. You can then begin the phase of measured execution that allows for constant improvement.
Treating marketing as a system, just like your other business system, will help your business attract ideal customers, which ultimately will lead to predictable revenue and profits.
For more information on building a successful marketing system download this eBook: The 7 Steps to Successful Small Business Marketing.