Is It Time To Revisit Your Marketing Strategy?

Small & Mid Sized Business owners, have you revisited your marketing strategy lately? Your Marketing ROI? Some of you have spent this past year just trying to get by-maintaining the web site, sending out occasional press releases, attending various networking events. Yes, you've endured our slow-to-grow economy, but how far have you deviated from your marketing strategy in order to survive? And to correct your approach, what new marketing programs should you add and what should you do first?

Simplify what seems like an overwhelming task by asking the following questions:

1. Has my competitive landscape changed over this past year? Like so many companies, you probably haven't spent much time evaluating your competition over the past year, but instead relied on what could be outdated assumptions. Before you can identify the right marketing strategy, you must take another look at your competitors. Are their any new players on the block? Has anyone disappeared? It's time to create a new competitor list, identifying the strengths and weaknesses of each one. How are they positioning themselves? Can you determine what makes them unique? Once you have these answers compiled, outline your strategy against each competitor. Write down your competitive rant (why a prospect should choose your company over the competitor). Circulate these findings to your team for their input and buy-off.

At the end of this exercise you should understand the following: Where is my competition currently marketing? What are they doing well? Who are they targeting? How are they positioned? How do I position against them...or with them?

2. Is my target market still the same? During difficult economic times, many companies abandon their target market strategy completely. Watching the pipeline dry up prompts even the most steadfast to relinquish their strategic approach and start trying to sell to everyone, everywhere. Not only does this weaken the marketing programs you do implement, it makes you lose your focus and forget whom you should truly be targeting for long-term success.

Before you determine what your marketing plan is, re-examine your target market. Supplement your existing customer data with a little market research. Check online at trade associations and market research firms for free information that provides insights into industry trends. Once you have re-established your market, create a detailed profile for each of the following: who purchases your product or service, who influences the purchase of your product or service, and who uses your product or service. Your profile should have enough detail around it that you could source a prospect list from it to support your marketing programs.

At the end of this exercise you should understand the following: Who is my customer? Who are their influencers? Which of my products/services are they likely to buy? Where do they go to get their information?

3. Is my company and product/service positioning still relevant? You may have unknowingly diluted your company's positioning over time. When leads are hard to come by, companies understandably (but unfortunately) try to be everything to everyone in order to win the business. It is time to restate what you bring to the table, that is truly unique, and how that uniqueness benefits your customer.

Correct any confusion you may have created over who you are, what it is you do, who you do it for, and why people should buy from you. Create 25, 50, and 100-word statements that describe these elements in a succinct fashion. Once you have this determined for your company, create clear, concise descriptions for each of your products and services. Using this positioning consistently throughout the year will correct any misconceptions about what you offer and explain why your customers should buy from you.

At the end of this exercise you should understand the following: Does my positioning statement clearly (Remember clear is always better than cute) communicate what makes my company different from the competition? Does it state how my offering can solve the pain they are experiencing?

Once you have reassessed your competition, reevaluated your target market, and recreated your positioning language, you will have the strategic foundation you need to determine the marketing programs you need to implement in your marketing plan. This information will help you choose relevant and appropriate marketing vehicles, and then establish solid priorities.

Think, Strategize, Act and COMMUNICATE.

Laura Aldridge is CEO of Aldridge Corporation, a minority, woman-owned strategic marketing communication & public relations firm. Big deal. That title sounds powerful, but don't be fooled. She readily admits you might catch her in the line of a local Los Angeles area store, playing with her husband and kids at the lake, coaching her daughter's cheerleading squad, watching youth football practices, or art show.

And on occasion she finds time to write articles on various topics, writing training material for technology based applications, speak at a conference or two, designing just about anything for almost anybody, making calls and trying to get her client's all the press and exposure they can handle, and serve on the board of directors for some great organizations. She's worked for a couple of great companies that saw the value of her ideas and style; she has won an award or two. But don't let the "powerful" title trick you; she's just "Laura" to most people.

Aldridge Corporation
20955 Pathfinder Rd, Suite 105
Diamond Bar, CA 91765
888.312.1923 (tollfree)
http://www.aldridgecorp.com

---

Google News Updated : Thu, 24 Jul 2008 06:51:44 GMT Pittsburgh Cancer Center Warns of Cell Phone Risks - ABC News China Daily Pittsburgh Cancer Center Warns of Cell Phone Risks ABC News - 6 hours ago By JENNIFER C. YATES and SETH BORENSTEIN AP Writers AP The head of a prominent cancer research institute issued an unprecedented warning to his faculty and staff Wednesday: Limit cell phone use because of the possible risk of cancer. Red alert! The cellphone warning has been issued Los Angeles Times Pittsburgh cancer center warns of cell phone risks The Associated Press DetNews.com - USA Today - Julie's Health Club - Chicago Tribune Blog all 436 news articles Publ.Date : Thu, 24 Jul 2008 00:01:03 GMT Dynamo top United at soggy RFK - MLS - Major League Soccer The Money Times Dynamo top United at soggy RFK MLS - Major League Soccer - 1 hour ago By Charles Boehm / MLSnet.com Staff WASHINGTON -- After two aborted tries on previous dates, DCUnited and the Houston Dynamo finally completed the first of their two league meetings on Wednesday night -- and some of Thursday morning, ... Mullan, Ching power Dynamo over DC United 2-0 Houston Chronicle Dynamo outlasts United despite lengthy delay Seattle Post Intelligencer The Canadian Press - FC Dallas - Washington Post - United Press International all 144 news articles Publ.Date : Thu, 24 Jul 2008 05:07:00 GMT Obama lavished with airtime -- and criticism - Los Angeles Times ABC News Obama lavished with airtime -- and criticism Los Angeles Times - 1 hour ago As the media moves to correct itself for glowing coverage of the Democrat, it's entering a period of shallow analysis. By ON THE MEDIA, JAMES RAINEY It seems like just about everybody has spent the last week beating up on the media for showering too ... Veterans group hits McCain on troop pullout The Associated Press 'Generation Gap' Widens in the 2008 Electorate Wall Street Journal Boston Globe - New York Times - CQPolitics.com - Right Pundits all 2,612 news articles Publ.Date : Thu, 24 Jul 2008 05:43:11 GMT "X-Files" movie both satisfies and disappoints - Seattle Times "X-Files" movie both satisfies and disappoints Seattle Times - 50 minutes ago Mulder and Scully are together again in "X-Files: I Want to Believe." The story may be silly, but the agents' romance is compelling as ever. The X-Files: I Want to Believe AU Review IGN Scully have I loved Salon Daytona Beach News-Journal - The State - The Star-Ledger - NJ.com - Youngstown Vindicator all 557 news articles Publ.Date : Thu, 24 Jul 2008 06:01:06 GMT Bashir Visits Darfur, Pledges Sudan Will Protect Relief Workers - Bloomberg Voice of America Bashir Visits Darfur, Pledges Sudan Will Protect Relief Workers Bloomberg - 4 hours ago By Paul Tighe July 24 (Bloomberg) -- Sudan's President Umar al-Bashir, indicted by the International Criminal Court for alleged war crimes in the Darfur conflict, visited the region yesterday and pledged to provide security for international relief ... Bashir returns to Darfur New York Times How Sudan Was Brought to Court TIME The Press Association - The Epoch Times - Voice of America - Times Online all 1,663 news articles Publ.Date : Thu, 24 Jul 2008 02:39:29 GMT Powerful quake injures 92 in Japan - CNN Boston Globe Powerful quake injures 92 in Japan CNN - 2 hours ago (CNN) -- A strong earthquake injured 92 people and destroyed 31 buildings in northern Japan on Thursday, authorities said. People at an auto dealership in Karumai, Japan, clean up glass shards after a strong earthquake Thursday. Japan's North Hit by Magnitude-6.8 Quake; 95 Injured (Update3) Bloomberg Powerful earthquake hits Japan, dozens injured The Associated Press Jerusalem Post - Reuters - AFP all 766 news articles Publ.Date : Thu, 24 Jul 2008 04:51:37 GMT Oklahoma determined to have a strong finish - Fort Worth Star Telegram NCAAfootball.net Oklahoma determined to have a strong finish Fort Worth Star Telegram - 1 hour ago By MIKE JONES "Our whole mentality now is WTLG [win the last game]," Harris said Wednesday. "Come out and finish. It’s national championship or bust. Sooner, the better Topeka Capital Journal Players put success on Stoops Daily Camera SportingNews.com - Chicago Tribune - ESPN - Norman Transcript all 38 news articles Publ.Date : Thu, 24 Jul 2008 05:03:29 GMT Rss Feed Reader Increased Web Site Traffic

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

Big Money With Folios

One of the easiest, if not the easiest, ways of... Read More

Global Market in the Cyber world?Go and Get It !

With the Internet opening up the doorway to the global... Read More

Build Lifelong Networks With Your Own Barter Group

I don't know if you have ever seriously considered bartering.... Read More

Eight Advantages of Fundraising Letters Over Other Methods

1. Personal Fundraising letters are about as personal as you... Read More

How to Write a Fundraising Thank-you Letter for Example (Includes a Free Sample)

Thank-you letters are one of the most important letters that... Read More

Most Wanted Response... How To Make It Work

"When I walked into the grocery store last Saturday, I... Read More

T.E.A.M Profit

As you network and meet other business owners, keep this... Read More

Marketing in Business and Commerce in the New Consciousness

The point is what you give to another you give... Read More

Direct Mail Formats: How to Choose the Right One for Your Next Mailing

Which pulls the best response, a postcard, a self-mailer or... Read More

How To Create A Complete Referral Marketing System

These steps are taken from the Referral Flood Marketing Program.... Read More

Let It Ring

Telemarketing has its place in the marketing arsenal. But telespammers... Read More

What Does Marketing Mean?

You can have the best little business ever with wonderful... Read More

How To Let Your Customers Search For YOU! ? Part 2

First I want to welcome you to part two of... Read More

7 Ways a Copywriter Can Help Your Business Succeed

Think you can't afford to hire a copywriter? Think again.... Read More

The Right Logo

The Logo: a little historyLogotype, commonly know as a logo,... Read More

How to Booste Your Profit Quickly

There are so many competitions by running business. So you... Read More

Marketing Tips- Who Are You Competing With?

Before you can market, you need to know who you... Read More

Free Marketing Tips

Dumb Excuse #1"I'm not sure I want to invest any... Read More

Do You Make These 5 Common Marketing Mistakes?

The famous P.T Barnum once said, "Without promotion, something terrible... Read More

Chill Out With A Summer Time Marketing Plan

Is your business experiencing a summer time slump? Traditionally only... Read More

Doing it with Class!

Doctors do it, hair dressers do it, and salespeople can... Read More

How to Create a Countdown Marketing Calendar

Just like there are reverse dictionaries, there is a reason... Read More

Heres A Robust, Turnkey, Interactive. Best of Breed, Mission-Critical Solution to Kill Buzzwords

Fellow Publicity Insiders, what does... Read More

Renting Your Mailing Lists to Others

RESOLVING THE "PROPRIETARY" DILEMMA... SHOULD YOU RENT YOUR OWN MAILING... Read More

25 Ways To Get More Business

Special Requirements for Reprint: we ask only that... Read More