Sunday, August 26, 2012

“Marketing Strategy” Needs a New Name

Questons And Strategy SolutionsA good friend of mine who successfully coaches small business owners gave me a sage piece of advice: “Bob, if you are looking to attract small business owners as clients, the moment you use the words “marketing strategy”, small business owners become confused.”  As I pride myself on helping companies get their marketing on the right track, I confess that I use the terms frequently – and have seen that look of confusion.   

The confusion comes because business owners concern themselves with more tangible things that produce results – advertising, getting a new customer, shipping a product and getting paid.  Strategy is ill-defined, intangible and not generally viewed as something that contributes to the bottom line.      

Strategy Equals Opportunity

Small business owners are a scrappy, persistent bunch who are always on the look out for a new opportunity – right now.   They are also extremely sensitive to wasting money by choosing the wrong direction. Yet many are just not that familiar with the corporate approach to making upstream choices and building plans that deliver on objectives.  Others may have gone out on their own simply to get away from a rigid corporate approach.

Strategic Thinking

At some point, pure hustle and street smarts must be replaced with strategy.  This is true of the ever evolving world of marketing and social media.   Danna Vetter, VP, Consumer Strategies, ARAMARK, commented recently that without Strategy, There is No ROI.  It is a great synopsis of how strategy provides tangible results.  Without the direction of a well articulated strategy, tactics (social media channels in this case) end up as wasted effort.

Making good choices, finding new marketing opportunities and having a solid plan of action can mean the difference to a small business of surviving of going under.  But whatever opportunities and choices these companies decide to take, they likely won’t call them “strategies”.

What term do you prefer to “marketing strategy”?

1 comment:

defensive driving course online texas said...

He's right. Anyway, you really have to be knowledgeable when it comes to you chosen field. Study and familiarize the market. Will surely take a long time of preparation.