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Marketing and the entrepreneur or small business owner

One can safely assume that most start-up business owners know the importance of marketing and public relations (PR). After all it is one of the building blocks in your business plan. But although mentioned in the same breath as finances, human resources and IT, marketing often gets moved to the back burner owing to the following: priority, cost and expertise.


Let’s address two of them immediately, namely priority and expertise. Firstly, the marketing function in your company or business is just as important as your budget or personnel. If it is not a priority for you yet, chances are you will never get it on track. Make it a priority and if you have limited resources, start small. Secondly, expertise is obtainable. If you do not have it, employ a reputable marketing and PR company to do the work on your behalf. (Read more about outsourcing here.)


Now, let’s spend some time on cost. Business owners steer away from marketing because in some cases they do not understand marketing’s strategic process and therefore assume it is too expensive. To a certain extent it is not about the actual amount spent on an activity – it is how the impact of the activity justifies the amount spend. If you know how to measure and how to determine the impact or success of a single marketing activity on your bottom line, chances are you will allocate the financial resources.


Now, the following steps are important in the compilation of a marketing strategy:

  • Situation analysis (research, analysing the environment)
  • Formulate your goals and objectives
  • Identify your target audiences
  • Determine what you will be communicating – your communication messages
  • Compile a comprehensive action plan (types of marketing activities, deadlines, determine communication channels, etc)
  • Budget
  • Evaluation and measurement
  • Adapt the plan should it be necessary

Newsflash

Maybe we should start by asking if outsourcing can even be considered a solution? Well, it all depends on your company’s culture, structure and managerial style. The latter will also play a huge role when you need to decide on outsourcing or not.

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Do you have a question or need some marketing and public relations advice? Contact us and we will do our best to provide you with expert advice.

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