You have an amazing business with a history of success, but suddenly your sales are flat.
What’s wrong?
- There might be a new competitor in your market?
- You're being beaten on price?
- Your marketing manager and sales teams are useless?
- Your agency has no new ideas?
The good news is it’s probably not any of these things. Especially if you’re in one of those unsexy industries that are so hot right now with venture capitalists.
- Construction
- Healthcare
- Manufacturing
- Food and Agriculture
- Legal, Accounting and Engineering
- Automotive
- Data and technology services
- Energy and recycling
If you’re in one of these industries, your sales should not be flat.
So, what’s missing?
This article is going to show you the dead obvious missing link for your business marketing and what you, as an owner or senior manager, can do about it.
Like most businesses, you've probably given your team a location you want them to go to, and then not given them a map. You know where you want to go - that’s your sales targets. But how does your team get there? Without a map, your team is going to try all sorts of things. They might walk, take a train, a bus, hitchhike, drive on one of the many routes, hot air balloon, invent a teleporter. Basically, you’re saying - work it out for yourself.
And then you blame them for not achieving their objectives!
Wouldn't it be much easier if you all sat down and created a map for the best way to move from where you are to your destination? The map is your missing link, and that’s called strategy. In marketing, we call it brand strategy, and you’d be surprised how many businesses, large and small, don’t have one. But if you have an upstart new competitor who’s taking your customers, they probably have one.
What is brand strategy?
A brand strategy is a written document which forms the basis for all your marketing decisions. It specifies what makes you special, identifies your customers and creates a unique link between your products and services and your customer’s needs. A brand strategy should be your reliable foundation that sets up your marketing decision making for years, if not decades.
- It's the magic beforethe marketing
- It makes sure you're investing in the correct marketing channels
- It gives you confidence in your team and suppliers
You don’t have to fire anyone, cut your prices or be afraid of the competition.
What to do now?
Creating a robust brand strategy needs marketing expertise and you can tap into this in a number of ways.
- In-House: You can get started on your journey and get together with your marketing team and key suppliers. Start by downloading my e-book – The Case of the Missing Sales.
- Work with your agency: Find out if your agency has brand strategy experience. Not graphic design experience, advertising experience or any other marketing tactic experience, but brand strategy experience. In my e-book, The Case of the Missing Sales, you’ll find 20 key questions to find out if your agency is all talk and just trying to sell you their services.
- Work with us: Press pause on all your marketing spend for three months and let us work our magic with you.
Now you know the importance of Brand Strategy, it’s in your hands to get your sales moving in the right direction. Whatever you do - don’t do nothing. If it’s your business, it’s ultimately your responsibility and all great brand strategies have the mandate of the owner. If you’re a marketing manager, it’s your role to take your brand to the next level of professionalism.
