Effective strategies are born out of more than just an excellent idea! There needs to be action and a certain amount of follow through to ensure that your stagnant piece of paper, which has the best strategy in the world right now for you and your business, actually lives and breathes.
There are particularly 2 main areas where business strategies fall short. Those are :
- Marketing Channels
- Distribution Channels
A lot of the content that I write about on this blog is mostly around Online Marketing. But that is just one marketing channel. There is still a place in the world for offline marketing & it is rather the mixture of each of these channels which truly makes for a winning strategy.
The key to getting this balance right is to research exactly where your exact target market are consuming their media as well as effective ways on how to reach them.
Online marketing as a channel is becoming more and more effective as it is head and shoulders the most measurable and innovative of the marketing channels out there.
Distribution channels are from where your wares are peddled. In other words – if you have an online shop, your website is a distribution channel (it’s also a marketing channel). It is the vehicle that gets your product to market, it can either be directly, through retailers, etc.
Typically you would have a different sales strategy for each of your distribution channels as each distribution channel may have a different specific criteria or target market.
Where Business Strategy Goes Wrong.
Where a lot of businesses lose their way is when they are not effectively optimising each of these independent strategies as well as the cross over points between these strategies.
Each of these individual marketing channels needs to be looked at first in isolation and then as part of the whole. Each of these will work with different strengths and intensities and drive different qualities of visitor to your site. These need to be looked at critically to return the highest ROI.
Simply put, using the online marketing strategy as an example.You embark on a grand online marketing strategy. This strategy succeeds and sends thousands of visitors to your site. This means that your marketing strategy succeeded with which ever channels you used to drive the traffic with.
This is where your marketing strategy and sales strategy cross over. As soon as they land on your site and begin to interact and are funneled into taking action they are skipping across the line of sales and marketing.
Should your sales strategy not compliment your marketing strategy and vice versa then there will be a breakdown in your overall strategy and your sales will be negatively effected.
Make it work.
Looking at each and every part of your business strategies; from sales and marketing to distribution and everything in between cannot be done enough. Many businesses today suffer 1 of 2 fates, either they didn’t spend enough time working on their strategies, or they got consumed by them and forgot that they still actually need to conduct business.
Get the balance right and make it work!