It’s one thing to plan but another to execute. Execution is where I find the biggest disconnect between success and failure. Whether we will build market share or try to steal it takes different execution strategies. Such factors as how we will brand our product, service or name or what form of packaging we use can totally impact our success. Such things as pricing levels and whether we will conduct a variety of tests can impact our success in major ways. Even seasonality issues and the channels of distribution we will use are all tied together. None of these issues should be viewed in a vacuum or separately on its own merits.
Marketing involves considering and managing multiple dynamics for multiple variables. Even determining your hours of business requires examination. For example, some chiropractic offices open very early in the morning and close early because they cater to a senior generation for whom these hours are more convenient, while others open later close later, and have hours on weekends because they cater to younger, working patients. That is a simple example of how knowing your market demographics and psychographics can make a difference in how you service customers. Knowing this, you might find that your competition isn’t considering these factors and it might be an opportunity to capture market share simply by changing your hours of operation or how you advertise or position your practice.
The point of this blog is to get you thinking about and defining your current marketing strategies and to challenge them and test them as well as identify new strategies and test them. If you don’t do this you might be accused of insanity because you are doing the same old thing and expecting a different outcome. Then again, don’t stop doing what is working!
Next week we will talk about how you can satisfy the communication goals in your marketing process so please take the time to work on clarifying your marketing strategies. If you need more guidance on this topic or prior blogs, always feel free to contact me at stan@fambizdoc.com and don’t forget to order a copy of my new book, Set Yourself Free – How to Have a Thriving Small Business… And Enjoy It.
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