On a recent consulting call a client asked me what I recommended they do as far as a business marketing plan. Should they pay for advertising, look to grow it organically, or explore an alternate route. This question is one that I get a lot, but it was the first time that I chose to answer it in a different way. A way that I feel makes far more sense.
In my opinion, we are all too concerned with how we are going to develop a marketing plan and strategy to pitch our business in the best light. How do we generate leads within the market effectively? What avenues and outlets are the most valuable for conveying this information to potential clients? For the first time, I realized that you should not be considering how you intend to reach your target market prior to understanding who and what you are marketing towards.
In prior years my answer to this question would be to build a website, get on social media, become an active member of the community, meet with designers and architects, etc. I realized recently that this is NOT the right answer. First you must understand who you are and who your client is, prior to building your marketing plan. Forget about the avenues in which you wish to gain exposure, and focus on who you want to reach. What they need to know about you and what problems you can solve for them.
A marketing plan and marketing budget means nothing if you do not understand what jobs and what clients generate the profitability necessary for you to be successful. Every company is different, everyone has a different price point, our skill sets are unique, and we solve different problems. If you are not fully aware of your numbers, how you make money, what clients afford you success, or what jobs support your model, then how are you developing a marketing plan? Why go to facebook or develop a website if you do not understand your ideal client or your value proposition based on your business model and capacity?
The first step in establishing and developing a successful marketing strategy is to understand who you are first. What makes you money, what you do well, what you do not do well, what numbers you must support, how much volume, where you wish to work, what your client looks like, what they do for a living, what is important to them, etc. Once you better understand your needs and your customers' needs, then you can develop a marketing strategy. Why generate unqualified or unvetted leads? Focus on the leads that are a good fit through self-reflection and proper marketing, rather than creating leads for the sake of such. Once you understand what makes you a successful business and who that is, then and only then should you begin to develop a sales funnel.