“Most people don’t plan to fail; they fail to plan.” – John L. Beckley
Did you know that statistics from the Chamber of Commerce / Bureau of Labor Statistics show that ONE in four small businesses have a strategic plan? Of these,18% fail in their first year of business and 50% after 5 years. Give yourself a chance to succeed by looking ahead and making a plan.
With the new year here, it is critical that you take a good look at defining your target market, your competitive advantage and your marketing objectives so that you can put together a solid plan designed to optimize your visibility and revenue in the new year.
There are MILLIONS of marketing channels to choose from these days … from signage to search engine optimization, endless options are available to deliver your brand and message in the marketplace.
Most business people know that there is no such thing as selling without marketing. I am always shocked at companies going through hard times that choose to cut their marketing efforts of all things. But even more shocking are companies that don’t have a detailed plan for their marketing strategies in the first place. Many companies just print business cards and wait for the phone to ring. And in this day and age, that’s economic suicide. Or worse, the plan is hap-hazard.
All the time I see people buying advertising by being bullied, making donations to causes they aren’t connected to because they can’t say no, and jumping in on the latest fad because their buddy said they should. Wouldn’t it be better to have a strategic plan?
The first step toward crafting your plan is gathering all of the efforts that are being made, or have been made, to leverage your brand in the marketplace currently and in the past. Start making a list of all the marketing efforts your company engages in from web presence and advertising to chamber memberships and charitable involvements. Start keeping track of where your message is being presented in order to be able to evaluate where the holes are in your strategy.
And if you need help setting forth that roadmap for the coming year, that’s Jennasis’ specialty. As I always say, “Hope is not a strategy, and everyone is not your target market!” If you need assistance getting your 2024 strategy in place, we can help! Fill out our online form here to get started.
From all of us here at Jennasis, we wish you and yours a happy and prosperous New Year!
Citations:
- Chamber of Commerce Team, “Small Business Statistics”, Chamber of Commerce,https://www.chamberofcommerce.org/small-business-statistics/#:~:text=Many%20people%20think%20that%20small,their%20tenth%20year%20in%20business
- * Article originally published as, “Rainmaker Insights: Tips on Developing a Solid Marketing Strategy Unique to Your Brand”, Women’s Journal, December/January 2012/2013
