Having spent half my life as a marketer for companies big and small, I have noticed some things that big brands and mid to large companies are doing on a consistent basis that would really serve solopreneurs and small business owners well. Sometimes, one small change in mindset, outlook or procedure can make a huge difference to your marketing results.
So this week, in my weekly Facebook Live Show called Marketing Tip Monday, I shared twelve things that you, as a small biz owner, should consider when planning your own marketing efforts.
Here’s the summary:
- They spend money and plan their spending based on expected or past revenue. It’s not unusual for priority brands to allocate 30% of revenue to marketing.
- They make marketing a priority and know that it takes a lot of effort to get results. It’s a constant battle of trial and error and one-off efforts don’t generate consistent, predictable results.
- Big companies have specialists. They know that noone can be an expert at everything and seek out partners to help them excel. Generally, the belief is that a specialist is better than a generalist. As a small biz, know where you need help and get it.
- Big companies TRAIN. They want their employees to be skilled and will actively try to fill knowledge gaps. If a big company can invest in it’s employees, you can surely invest in yourself! As a small biz owner, you need to fill the knowledge gaps can affect your ability to drive results.
- They localize and personalize their messages and activities. They tailor their plans and promotions geographically to take advantage local nuances. And, they keep a database of customers so they can personalize content, promotions and experiences to individuals.
- Each year they spend months on annual planning. I recommend quarterly agile planning for small businesses.
- They spend time evaluating the effectiveness of their efforts. They have formal processes to measure each initiative or campaign against pre-set objectives. They also look at return on marketing investment (ROMI) from a short-term and long-term perspective.
- They brainstorm! This is one of the most fun and cost effective way to get new ideas to meet your objectives. Best to either be able to clearly articulate who your ideal customer is by sharing a Buyer Persona prior to the session.
- Sales & Marketing are equally important! You can’t have one without the other.
- Big companies invest in RESEARCH. They don’t just go by gut. They know that researching their customers and knowing more about their ideal customers will pay back in spades by making all their efforts more effective.
- Every brand has a research-based and well thought out brand strategy. Brand strategy is the heart and soul of a brand. It’s the perception your brand has in the hearts and minds of consumers. Marketing strategy on the other hand is the strategies you will employ to reach your marketing objectives (all within the confines of the brand strategy).
- They create multi-channel, integrated campaigns to get their message out. For small businesses, it’s hard to be everywhere given the time and resource limitations so it’s very important to understand how best to reach your customers by doing the appropriate research upfront.
To knock off a few of these from the list to help your small biz level-up, register for the Buyer Persona Mini-Boot Camp.Or dig even deeper and get your brand strategy right with the 12-week Strategic Foundation Boot Camp.