4 Pillars of Efficient Marketing

Posted: May 24, 2014 in Business Development

So you have a business proposition that you are looking at developing, but don’t have a lot of resources at your expense. This is very common amongst developmental stages of businesses or withing the start-up portion of an idea. We always, especially when short on resources, need to be as efficient as we can and this applies to our marketing efforts as much as any other aspect of a business. Efficient marketing is crucial to development, as we look to maximize the outputs while minimizing the inputs, or “get the most bang for our buck” if you will. So how to we create this efficiency?

What I like to call the 4 Pillars of Efficient Marketing, are concepts that I learned first learned from Rod Hosilyk and Matt Westfield at Strategic Growth Strategies in Reno, NV and then became a believer after utilizing them. These pillars are the questions we have to ask ourselves when determining how we are going to market the business. If we answer these questions, we are well are on way to efficient marketing.

Pillar 1: Who is the customer?

This is crucial in the attempt to an efficient marketing campaign, and although it is a straight-forward concept, there is more to it than just what’s on the surface. Within this we want to know the types of customers, the primary customers, secondary ect. and REALLY know them, examples like where to reach them, where they buy, or what they look for. These are some important steps we must take before creating a marketing campaign.

Pillar 2: Why from you?

This is another way of saying what is your value proposition? Or your differentiators. What is it that makes us different from the rest of the competition? This is probably the “strongest” of the pillars because how we differentiate from the competitors is how we will succeed, and is why a customer will buy from us.

Pillar 3: How do you let them know?

This is our modes of marketing, and especially important for the efficiency goal. Here we need to know where to find the customer and what marketing channel is most important. For some it may be television ads, some QVC, social media, etc. Of course, if resources are scarce, then the higher priced channels are not going to be a reliable tool. Marketing is absolutely one area where we should focus on spending what resources we do have, so it is okay to spend here. But I am always an advocate of bootstrapping as much as possible, so don’t just throw money at marketing campaigns without doing due diligence about reaching the customer.

Pillar 4: How do you get it to them?

This will change based on the type of business of course, but it is important to understand what channels we use to deliver the final product (good or service). A great marketing campaign is only as good as the ability to deliver to the customer. This includes not only the proper channels of delivery but really focuses on logistics and supply chain. Here I want to mention the importance of our demand forecasting and capacity planning, which is making sure that we have the capacity for our expected demand. We can be successful in a marketing campaign, but if we do not accurately (to a point) forecast demand and therefore have insufficient, or too much capacity and inventory, then the campaign will not be as efficient as possible.

So now that marketing strategies are help up by these pillars, we can take steps toward growing our business while keeping our spending to a minimum due to efficient tactics.

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