The Edge Marketing

Strategy is a word that marketers cling to in order to justify the business value of marketing. Anything with value needs to have strategy, right? It’s good business…the stroking of chins, the facilitated brainstorming sessions, the neatly formatted “strategic marketing plan” that results from all that creative thinking about what needs to be put into place.

Marketers as a group have an inferiority complex. We are defensive because we don’t directly contribute to revenues, the results we do produce tend more towards the intangible side of the business, and the marketing part of the budget is high relative to other business functions. We believe (often with reason) that other members of the management team consider us with raised eyebrows, trying to figure out what exactly we are bringing to the party. Hypersensitive types that we are, we assert our importance on the team by stressing the “strategic” value of marketing.

Strategic marketing and marketing strategy are meaningless terms to most small and medium business owners. There is no time for brainstorming sessions and no money for facilitators and fancy plan documents. Everybody is too busy working to improve the bottom line—increasing revenues and decreasing costs—to place any importance on “strategy” when it comes to marketing activities. Getting the brochure done, putting a web site in place and keeping it maintained, and sending out a newsletter—those are things that will produce immediate results, and are therefore more important to dedicate resources toward than activities around “strategic marketing planning.”

But wait. I am not saying that business-oriented marketing planning isn’t necessary. Without some sort of planning, the brochure, web site, and newsletter are created as separate items with no similarities and no tie-in to overall business objectives. Costs are often high in dollars and time while results are low. It can be frustrating to look at the income and expense statement, see all those marketing dollars on the expense side with no upswing in revenue to associate with those costs.

You do need some kind of marketing plan, but instead of calling it strategic, let’s call it sensible.

-- A plan that makes sense given your business objectives, your budget, and your labor resources.

-- A creative road map that gets the most bang for your marketing buck, not a fancy formatted document resulting from a high-priced facilitated session.

-- And a record of specific metrics that will be used to measure the effectiveness of your road map so that adjustments can be made enroute.

Your plan doesn’t need to be a fat document; it may only be a couple of pages. It does need to clearly set out at least the following point:

-- Your marketing goals for the period that the plan covers (these need to align with your business goals for that same period).

-- A summary of your target market profile, including competitors as well as prospective customers.

-- A Distinct Value Statement for each discrete target customer group that succinctly defines the value your products or services offer it.

-- A summary of each marketing activity you will pursue during the plan period, a timeline for them, and how they integrate.

-- The specific metrics you will use to gauge the effectiveness of plan activities.

When you have created this road map, use it. All of it, including the metrics. And be prepared, based on your results, to make adjustments as you go.

Sensible marketing starts sensible planning. If you have not made a plan, I suggest you stop, take a step back, and create a marketing plan that fits your needs. You will produce far more marketing results by having a plan in place. You will also understand what your marketing investment has returned and where the best results have been produced. And that is sensible business!

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