...possible, but not likely. Perhaps the stars aligned and you hit the jackpot with your last advertising/promotion campaign, but why even risk throwing that money away, when some strategic thought and research will help steer you in the right direction?
I hear many business owners say they don't know where to start or find the research that will provide solid data for marketing decisions. Well, marketing is not brain surgery, but as a marketing professional, I do know what questions need to be answered, and how to go about getting those answers. Here's just a sample:
Who are your customers? No, I mean who are your customers? If you give a one or two word answer, chances are you have not thought it through, or have data that will show you a solid demographic profile of your customer base. Why is this important? Because "segmentation" allows your marketing efforts to be more effective (think ROI)!
Why would your customers want to buy from you? And by the way, because I have a superior product/service is not a valid answer. Everyone can make this statement. Think "differentiation", what makes you different from your competitors. Don't know? That's just yet another element of strategy...competitive intelligence/benchmarking.
Can you be successful without strategy? Perhaps, but I don't really want to spend my hard earned $$ finding out. Do you?
Continuum Marketing, www.continuummarketing.com, 469-826-4048
July 20, 2008
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