Categorized | Business


Mar • ket • ing

“The technique of promoting, selling, and distributing a product or service”

By Tom Irmen

While most entrepreneurs can offer you a superficial definition of marketing, and while perhaps believing that their respective companies are efficiently implementing a well-thought out marketing strategy, the fact is that very few small businesses effectively market the goods and service they sell.

Many small business owners continue to view marketing and advertising as one in the same. Also, the strategies they employ are oftentimes fragmented and lack the comprehensive approach required to transform mediocre results into superior results, usually with the investment of far fewer resources.

The most successful small business owners I have observed during more than three decades share many common characteristics:

» They have a clear understanding of what “marketing” constitutes
» They have a long-term perspective
» They clearly differentiate themselves from their competitors
» And, most importantly, they are “tenacious” in implementing their strategies

Successful entrepreneurs avoid the “new idea of the moment club,” where marketing strategies are changed or adjusted with every new day. They also understand that advertising is just one vehicle for implementing their successful marketing strategies.

In order for your marketing strategies to succeed, they must be bold, comprehensive, and clearly communicated to your associates and your existing and prospective customers. You must articulate not only how you differ from the competition, but, more importantly, how your customers will benefit personally from your unique, differentiating characteristics.

Successful entrepreneurs also carefully evaluate existing advertising platforms, selecting those that most efficiently and cost-effectively communicate their messages to their target audience. These different platforms support each other, rather than act independently, and are designed to achieve both your short- and long-term marketing strategies.

Procrastinators will suggest that they lack both the time and expertise necessary to implement a successful marketing strategy, but the truth is that they usually end up investing far more time and money in their piecemeal approaches to marketing, which often fails to deliver the desired results.

These successful small business owners I speak of belong to a unique 5% club, which enjoys 95% of the success achieved. There are no obstacles preventing you from joining this elite club except a genuine commitment from you to win.

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