As EOFY approaches and hopefully you’ve done your marketing review (if you haven’t, check out our previous blog), it’s time to think about your marketing plan and strategy. Do I really need one? – You may ask. Even if you’re a small business, having a marketing strategy is critical to your business success. Here’s why:
Positioning – Who you are
Your marketing plan helps you find out who you are, how you fit in the marketplace, and what makes you unique as a business. In today’s highly competitive environment, how do you stand out from your rivals? What do you offer to your target market, and who are these people? Being able to answer these questions give you a clear direction on how, and who you can target your business towards. It also helps you think about what you can do better than your competitors.