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Is our current concept of marketing a thing of the past???

Yesterday I wrote that traditional business planning is out and business model creation is in.  The creation of a business model is a “build to suit” process.  Marketing has to undergo the same transition; social media, advertising, a web site, a brochure, a logo or a combination of the hundreds of marketing solutions that are being sold today, cannot always provide the needed answer.

Whatever product or service you offer has to be presented in such a way that it meets the “core” needs of your prospect.  Whether you are marketing B-2-B or B-2-C, the core needs of your buyer has to be understood. In both cases, purchases are made to first satisfy a core need; core needs are the internal emotional needs that make us human.

The marketing model creation flows from and within the business model creation. In the business model creation the customer is identified, the marketing model now identifies the emotional needs of the customers and the best way to present your product or service.

The problems that need to be solved and the needs that have to be satisfied have to be identified in order to deliver value to the customer. The product or service has to be customized to insure the sale.

By understanding our customers, the method of reaching them becomes identifiable. The delivery method used to inform the customer of the value being presented is the media by which the customer wants to be reached. Each segment of a target market has a preferred way of being contacted. A blitz of all media types is not cost effective and will not produce the desired results.

Change is the only constant in our world today and marketing methods fit into this scenario. Most businesses fail due to a lack of profitability. Sales alone can’t sustain a business if the profit is not great enough to insure sustainability.

I am only touching the surface of a comprehensive marketing program. It should not be overwhelming because there is a method to business model creation which includes the marketing model.  If you are just starting a business you can start with a clean canvas and customize the model to reach your goal. An operating business will have to make the time to develop and implement the necessary changes to create the new business model while maintaining the income flow needed to survive.

Commerce is generally understood to be the basis on which the power of this country hath been raised, and on which it must ever stand.

Benjamin Franklin (1706-1790)       

Ensuring small business survival, profitability and sustainability is our goal at Strategic Duck

Nick J. Petra CFP

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