Is marketing at the heart of your small business?

Carolyn Stafford, the small business marketing expert

Astonishingly at last count there were over 1.8 million businesses in Australia with 0 to 20 employees. Sadly, three in five of these small businesses will fail in the next three years. There can be a myriad of reasons for business failure - flawed business vision; poor planning; inability to attract and retain good staff; lack of capital and cash flow problems; low sales and lack of ongoing business in the pipeline. You’ve heard them all.

Research actually shows one of the major reasons for business failure is poor marketing leading to a lack of sales and ongoing business. Many businesses set up shop then frantically try to sell their wares to a customer that doesn’t need, want or value what is being offered. They also make the mistake of thinking that marketing is simply advertising or selling. Marketing is so much more and must be at the heart of every business in start-up phase and throughout the growth of the business. It must be built right into your offering up-front so that you stand out and get noticed. It can’t just be slapped on at the end as an after-thought.

Think of the Australian brands you know and love that once started as tiny businesses; Boost, Fernwood, Nudie, RedBalloon Days, Napoleon Perdis, Peter Alexander, Jimmy Possum. These successful companies all have one thing in common - they all have marketing at the heart of their business. Is marketing at the heart of yours? Answer these five questions and find out:

1.   Customer Value Proposition
Do you have a clear and compelling customer value proposition? Can you clearly and convincingly articulate what value your customer will receive from dealing with you and why they should come back? Can you answer the who, why, what, where, how and when questions about your business but most importantly the WIIFM question (what’s in it for me – the customer)?

2.   Target markets
Have you painted a detailed description of your ideal clients and established clear target markets to focus your marketing efforts? Do you know the demographics of these markets ie their age, income, occupation, location, industry type as well as their buying habits and needs? Do you not only know who they are, but where they are and how to get to them?

3.   Positioning
Have you cemented your position in your market place as a leader in what you do? Does the market not only know who you are but exactly what you do? Do they consider you to be the first port-of-call when they might need the type of services or products you provide? Do they know your point/s of difference (or point of distinction) from your competition whether it is best value for money, best service, best advice or best product?

4.   Personal Brand
As small business owners you are the face of your business. So are you out building your own personal brand identity in order to get your business noticed? Or are you working ‘in the business’ instead of ‘on it’? Are you actively building a position for yourself as an expert in your field? Are you passionate about what you and your business have to offer and is your passion contagious? Does this convert into new business leads?

5.   Business Brand
Are you brand savvy? How good is your brand awareness and recall in the market you operate in? Do you know how to build a brand that stands out from the crowd and one that gets noticed – from your name right down to your visual identity in all its forms? Is your verbal brand (what you say about your business) as powerful as your visual identity? Do you give your customers a grand brand experience?

If you answered NO to any of these questions and you would like to find out how to put marketing at the heart of your business, come to one of Carolyn Stafford’s Small Business Big Brand workshops being held in 15 locations around the country during October and November. They are a great way to learn how to be brilliant at marketing while making valuable connections with other business owners in your local community.

Carolyn is a small business marketing expert, the author of Small Business Big Brand and is a sought after media commentator and speaker.

The workshop is proudly being supported by WIMBN. All WIMBN subscribers are eligible to receive the special WIMBN Alliance Partner rate of $299 (+ a copy of the book) and will go into the draw to WIN one of three $5000 Marketing Makeovers!

To find out more and book, visit www.connectmarketing.com.au or phone 1300 886 107 and quote ‘WIMBN’.

About Carolyn Stafford

Carolyn Stafford is the director of Connect Marketing Professionals, a one-stop marketing shop just for small business. Carolyn has worked extensively in the financial services sector. She is a regular columnist in the Business Network section of The Age and the Sydney Morning Herald and a sought after speaker. She hosts regular breakfasts, workshops and events across Australia and is the author of her first book, Small Business, Big Brand.

Visit Connect at: www.connectnetwork.com.au