Looking for marketing strategies proven to be the most effective for business growth?
Generally any larger company whose brands you recognized and identify with have done this work with extreme discipline, by definition.
Great examples include Apple, Starbucks, Chipotle, Whole Foods and the like. You can look at any bigger brand like that and derive who they are targeting, what their category is, etc. from their marketing even though they are not using those specific strategy words in what you see.
When you feel a strong attraction or attachment to a smaller brand, like your favorite pizza place in town or your beloved car wash, the same strategy elements are “underneath” and can be see there too.
Really everything has this story – every person, every product, every political idea, every school, every city/state/country, every musician/band. The things that stick in our minds (that we attach to) declare their focus, have a clear story and are great relative to everything else.
A good strategy creates simplicity and power, but it’s much harder to create and refine than it looks.
It takes time and a little change in mindset to get out of the urgent daily grind and develop a new discipline.
I find that most up-and-running businesses have obvious subsets of their customer base that are clearly their best customers.
This is what happened with my accountant friend. The simple strategy recommendation for most businesses is to “find more customers like your best customers and stop selling to customers that aren’t in that group.” It’s hard to make big changes quickly (and turn down a sale) when you are putting food on the table and making payroll, so a gradual approach gets the ball rolling and shows the way to a better future. You don’t have a focus until you can say “No, I won’t sell to someone who isn’t in my target.”
What Does Your Marketing Strategy Statement Look Like?
When you put the five key decisions of marketing strategy in a sentence form, it looks like this fill-in-the-blank statement:
Your company name is the leading category for target customers that provides unique benefit. Unlike competitors, your company does unique differentiator.
Our growth rate doubled when we focused and committed to this clear and simple marketing strategy.
Try it for yourself: Fill in the blanks to create the marketing strategy statement for your own business. Get some perspective from employees, friends and best customers. List all the possibilities and then make some decisions. Say it out loud a few times. You should feel clarity and power coming through. It will also show you a few things you could stop doing in your business that would create more focus.
Can you see why it makes no sense to Tweet, to send a broadcast email or build a new website if you are not clear about your marketing strategy that has laser-like focus? Doing these tactics without a road map – your marketing strategy – will not deliver the right customers and will give you fewer sales than if you had invested the time to implement a focused marketing strategy.
Here’s the real secret that successful companies practice with extreme discipline:
Creating a clear marketing strategy is not what companies do after they get big, it’s what small companies do to grow and get bigger in the first place.