MARKETING
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Marketing is often seen as a tactical activity with the sole purpose of generating short-term sales leads. However, the true role of marketing is to drive long-term profitable growth within the business.
For most businesses, the number of active buyers in the market (those who might buy in the immediate future) is a small proportion of the total target audience. And yet, most of the marketing budget tends to be focused on them. But what about those customers who are not yet active buyers? These are your future buyers, and more importantly, your source of future revenue and growth. What are you saying to them? How are you creating awareness for your business so that when they do become active buyers, they think of you?
The marketing process can be divided into three phases: diagnosis, strategy and execution. The diagnosis phase is about understanding your business, your market and your customers – both current and future. The strategy phase is about identifying who you want to target, defining your positioning and setting objectives. The final execution phase involves implementing an effective marketing plan across the whole marketing mix (product, pricing, distribution and advertising). Each phase is dependent on the phase before it, and it all starts with understanding your customers.
IBCP has extensive experience in working with small and medium-sized (SME) businesses. We offer marketing support on a consultancy or part-time CMO basis that can help you see the wood for the trees and set you on the path to more effective marketing and long-term profitable growth of your business.
