Are You Marketing or Gambling?
“A singing bird was confined in a cage which hung outside a window, and had a way of singing at night when all other birds were asleep. One night a Bat came and clung to the bars of the cage, and asked the Bird why she was silent by day and sang only at night. “I have a very good reason for doing so,” said the Bird. “It was once when I was singing in the daytime that a fowler was attracted by my voice, and set his nets for me and caught me. Since then I have never sung except by night. But the Bat replied, “It is no use your doing that now when you are a prisoner: if only you had done so before you were caught, you might still have been free.”
“Precautions are useless after the crisis.” Aesop
Many businesses owners approach marketing and sales as they would a fancy Las Vegas casino: Place your bets. Throw the dice. And hope that lady luck is in a good mood!
Sound ridiculous? The truth is that this approach is taking place in businesses of all shapes and sizes today.
A 2017 Google study found that only 13% of managers are confident in measuring the return on their investment in marketing, and only 14% feel they understood how their marketing was contributing to business revenue.
These business owners and managers don’t understand what they are getting in return for their money. They can’t quantify the results of their efforts to make sure the results are worth the money spent.
Yet, they continue to spend.
Not developing and executing a marketing strategy, and analysing its success, is just like praying to lady luck – hoping that the next dollar spent on a marketing campaign or sales person generates the results we are after.
In your business, make sure you rig the house in your favour by developing a strategy and executing a plan to support it! Let’s clarify these two key concepts:
Strategy: What you need to do to achieve an objective. A strategy is about shaping the future using clearly defined goals while considering the availability of resources.
Plan: Explains clearly how the strategy will be executed.
A strategy and plan are critical to ensuring your marketing and sales efforts generate success. Indeed, they are the key to success in any endeavour!
Ancient Chinese military strategist General Sun Tzu is famous for forging ahead with strategies that were well developed in advance. This strategic focus, captured in The Art of War, saw the general go down in history as a revered historical and military leader. As General Sun Tzu famously said:
“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.”
Such precision and focus have helped countless small businesses turn into global powerhouses, dominating industries and becoming household names. Ensure you have a powerful marketing strategy and plan as part of your business arsenal!
Next in the series: Defining your brand identity.
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