|
DIY
Marketing - You have no choice! by Andrew McGregor and Barbara Andrew of the business PLAN |
Marketing textbooks refer to the 4 Ps of marketing. In this, the first of six articles, we introduce Grassroots Marketing - marketing from the (different, and refreshing) perspective of the owner-managed business. We discover that there are in fact 11 Ps that the business owner needs to attend to .
What
is Marketing?
A textbook definition of marketing is:
"Marketing is a system of organisational activities designed to plan,
price, promote, and distribute something of value (product or service) for the
benefit of existing and potential customers".
The textbook approach to marketing is highly specialised. It requires very specialised
people doing very specialised jobs in very specialised companies (ad agencies,
PR companies, research organisations, etc.). Marketing is also very expensive.
It takes a lot of money to get the right marketing message to the right audience.
While not detracting from traditional marketing theory and practice, we believe
that there are specific approaches that need to be adopted by many owner-managed
businesses to complement - and in certain cases replace - the more traditional
(textbook) approach to marketing.
We define marketing differently:
"Marketing is connecting with clients and prospects".
Research indicates that we are subjected to 300 marketing messages per day.
We, as consumers, have become immune to traditional marketing methods.
We are going to suggest ways in which you can market your business using focus,
imagination, and energy, rather than money. This may sound like a bunch of gimmicks
- in fact it is an attitude. With that attitude, you can apply the principles
using practical, common sense rather than uncommon brilliance.
This is not about advertising and selling. Grassroots marketing is about EVERYTHING
you do in your business. It CANNOT be done by outside specialist marketers -
it has to be done by you and everyone else in your business. You have
no choice.
The 11 P's of Grassroots Marketing
Most of you will have heard about the "Four Ps" of marketing: Product,
Price, Place and Promotion. As the owner or potential owner of a business, you
need to develop your marketing strategy and implementation plan. To do this,
you need to examine the 4 Ps, analysing them from the unique perspective of
your owner-managed business.
In addition to the Grassroots interpretation of traditional marketing, we have
developed our own set of marketing "Ps" - the 7 Ps of Grassroots Marketing:
| Plan | |
| Position | |
| Proposition | |
| People | |
| Prospect list | |
| Perseverance | |
| Passion |
We
will be combining these with our original 4 Ps to bring you a complete view
of how you should be marketing your business. This series of six articles will
explain each of the 11 P's in detail, starting with your marketing PLAN.
The First P. Your Marketing Plan.
The single greatest mistake most entrepreneurs make is embarking on a business
venture without a plan.
You will develop your Marketing Plan in two distinct phases: The Focus
Phase and the Fanfare Phase.
The Focus Phase
The Focus Phase is the culmination of your business strategy. In going through
the process of defining your focus or niche, you will be addressing the most
fundamental issues relating to your business. These include:
| A critical evaluation of your product and the benefits that it purports to offer your very clearly defined market, and | |
| An analysis of your competitors and how you will differentiate your business from theirs. |
You
cannot address these issues without taking a most strategic view of the business.
Not only is the Focus Phase important, it is also difficult. It normally involves
a number of crucial decisions, some of which will mean consciously deciding
not to exploit apparent, or even definite, opportunities.
As the diagram implies, the aim of this phase is to narrow the position of your
business to a laser-sharp focus. Of the 11 Ps, Position is the most important.
The Fanfare Phase
Having established the Position of your business, the Fanfare Phase involves
ensuring that you clearly, consistently and remorselessly communicate this position
to your target market. It involves passionate attention to detail, to relationship-building
and to consistent follow-up.
The Iterative nature of business planning.
Each of the two phases is iterative.
"The future in not some place we are going to, but one we are creating.
The paths to it are made, not found
" (Adams)
The iteration of the Focus Phase represents the development of
your product, distribution channels, pricing policies and positioning as your
understanding of the various issues and the results of your research combine
to clarify your thinking. You start making firm decisions about your business.
This is not a process that you will go through very frequently, but it
is important that you give it the attention it deserves. This is particularly
true when you are starting out, if you have never attempted marketing planning
before or if you are thinking of a significant change in your business. Once
you have a sound Plan in place, you must be alert to changes in your environment
that may necessitate a review of these issues, and you should formally review
them annually.
The iteration within the Fanfare Phase is both ongoing and frequent.
There is an aphorism in marketing circles that "50% of your advertising
is wasted, but you never know which 50% that is". We do not subscribe to
this view - it is your duty to measure the results of your marketing efforts
and to continually update your action plan.
Documenting your Marketing Plan
Your marketing plan need not - indeed, should not - result in a long document.
A well thought through, clearly articulated marketing plan might only be seven
pages long. The secret is that business owners and the key members of their
team must go through a stringent and disciplined process to structure their
thinking. They have to take crucial decisions about their business. The most
value of the process lies in the insights gained and decisions made. The resulting
documentation has real value as well, provided it articulates your specific
action plans very clearly and unambiguously. tbr
Is
it really that important?
For most entrepreneurial types, planning is not that much fun. Not only does
it have very little appeal, it is not considered to be particularly productive,
when that time could be used on "real work". In fact, planning is
very hard work, involving time, effort and repeat sessions of agony once you've
finally stopped procrastinating and have got down to it.
But, as your Marketing Plan starts taking shape, you will begin to feel excited.
The psychological benefits alone are worth the effort. They include a feeling
of confidence and a sense of control over your business and hence your own destiny.
The authors are directors of the business PLAN. They can be contacted at mail@tbp.co.za or (011) 782 6746.
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