Summer is coming to an end soon. To some businesses it is the end of their third quarter. Many of us consider it a time to buckle down and forge ahead. Vacation season is behind us and we can count the number of rounds of golf that lie before us. Of interest to venders of small businesses is a recent survey by Warrillow & Company that sought to understand what small businesses are afraid of most and also what was their most important pain point. This research was concluded in March of this year. What they found was the number one fear was “not marketing themselves effectively” and their number one pain point was “poor sales.”Number two on the list for fear was “not being able to retire” followed by “the ability to stay abreast of new technology.” The second pain point point was “taxes” and that was followed by “competition from larger businesses.”
Knowing these facts, gives vendors some insight into how to deal with their customers depending on what product or service they are providing or wish to provide. I’m sure many of you reading this article would more or less agree with the findings. I’ve noticed it myself. Many of the businesses I come into contact with are becoming more interested in the opportunities of on-line marketing. They have also raised the bar on their existing brands by enhancing their images and more aggressively marketing themselves.
In the past, (the last recession for example) they pulled in their wagons and rode out the storm, this time around they want to strengthen their brands and emerge on top when the recession breaks and the marketplace returns and flourishes once more. The answer to the number one fear “not marketing ourselves effectively” is something I think all small businesses relate to. A concern I have about this fear is that small businesses will not quickly move forward and try and find a solution every five minutes.
This indecision stems from the fact that they are not confident in speaking to their audience effectively, they tend to second guess themselves. This lack of confidence only illustrates that they may not have an effective enough differentiator that compels their audience to seek them out. This lack of brand direction typically results in their marketing teams following the leader and blending with their message. A well thought out positioning strategy vulcanizes your marketing, giving you the confidence to drive sales home.
Are you charting your course over the next few months to ‘get ‘er done?’ What ever goals you set for your business, do you have a particular motivation tool. My mastermind group has each of us set out our goals until the next meeting which is quarterly. The motivation is embarrassment. We don’t want to look as though we are not following through on our intentions. Actually the group is very encouraging, regardless of your success. It is only the effort that counts. The group holds the author accountable.
<strong>The economy is showing signs of improvement. Opportunity is definitely out there. Set out some goals to achieve over the next few months. The time to plan is now and so is the time for doing. Get out there!</strong>
You’re absolutely right, this is the time where small businesses have perhaps their biggest opportunity to shift from their traditional marketing to online marketing. Many small business owners are interested in tapping the online market but don’t really know how to do it or who to approach for help. The smart business owner will start building up his brand right now, while the economy is slow, to emerge strong when the economy picks up again.
By the way, your “strong” tags are visible 🙂
Personally I find that the fear of “not marketing ourselves effectively” is because alot of small business owners are managing their resources and time properly. Their are alot of small business owners that try to be self-sufficient, that is they try to take on everything by themselves, when they don’t necessarily have a comparative advantage in that particular task. The reality is alot of small business owners should try to spend more of their time on what it is that they do have a comparative advantage in, and the delegate the other work to others who are better than them at it. I bet their marketing would be alot more effective as a result.
I hope that made for you guys.
Till then,
Jean
Thanks for your insight Jean. I think there’s a lot of truth in your opinion.
Office MOVER,
Putting online marketing on their radar, small businesses have made the right first step. Step two – getting assistance, can be found here or any number of places. I am only encouraged when I see a promotion in my in-box. Being in the field, junk mail is inspiring. Watch how businesses approach getting your business and use it develop your own campaigns.
Quote:
“Are you charting your course over the next few months to ‘get ‘er done?’ What ever goals you set for your business, do you have a particular motivation tool. My mastermind group has each of us set out our goals until the next meeting which is quarterly. The motivation is embarrassment. We don’t want to look as though we are not following through on our intentions. Actually the group is very encouraging, regardless of your success. It is only the effort that counts. The group holds the author accountable.”
It is the sentiment expressed in this paragraph that I think strikes a cord with small business.
Thanks OCM,
I spoke with a small business owner who wants to address his online marketing but needs assistance. One too many hats.
Their are alot of small business owners that try to be self-sufficient, that is they try to take on everything by themselves, when they don’t necessarily have a comparative advantage in that particular task. The reality is alot of small business owners should try to spend more of their time on what it is that they do have a comparative advantage in, and the delegate the other work to others who are better than them at it
Agreed Dennis – your solution would definitely strengthen them, allowing the visionary to guide – which is a strength of theirs.