Two truths about marketing:
1. Developing, implementing and monitoring effective marketing strategies are essential for business success.
2. Most businesses have a very unstructured approach to Marketing.
How, then, can businesses expect to make the most of their opportunities?
Do businesses realise that their competitors benefit significantly from their poor marketing?
One of the main problems is that business owners don't typically have any formal training in Marketing and they confuse 'advertising' with 'marketing'. Advertising is the most common form of Marketing and is usually one of the most expensive. Unfortunately a lot of advertising is ineffective and is a complete waste of time and money. Advertising is sometimes referred to as 'lazy marketing'. Marketing is a lot more than just advertising.
Before a Business undertakes any marketing it needs to analyse various aspects of its business. For example, it needs to identify its different revenue streams, their respective profitability, likely future trends, key customers, why they buy from them, their competition, their competitive advantage, their sales process, social media and many other factors.
Not many business owners are experienced at this analysis so they end up with ineffective, and wasteful, marketing. We have the experience and structure to conduct this analysis and develop effective marketing strategies.
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