Every good marketer is familiar with the four P’s of marketing: product, price, promotion, and place. For most of us, these pillars drive our strategies and the campaigns that we use to sell our products. However, for small business owners, it can be challenging to focus on these four P’s with the lens of a marketer. After all, owners are responsible for the other P’s that drive their business: people, processes, and payroll to name a few.
For many business owners, the advantages of working with a marketing partner can provide distinct advantages, especially when thinking about these four P’s of marketing partners:
Pace – working with a marketing partner helps you set the pace of your marketing strategy. For some business owners, the pace of their marketing efforts is determined by the budget they have, and for others it is determined by the rate at which they want to grow. Regardless of how you are determining your pace, discussing it with your marketing partner will allow you to determine what strategies should be executed to meet your revenue goals.
Purpose – when you are an employee of a company, many marketers find themselves involved in projects that take their focus away from their daily tasks of marketing the business. Outside marketing firms or consultants have the luxury of being able to focus on the task at hand because you are their client, and the client always comes first. When you are evaluating marketing partners, it is a good idea to ask them how many clients they already have so you can determine if they can put the right amount of focus on your company.
Performance – any marketer worth their salt will have ways to measure their performance, what is important is that everyone agrees on what success will look like. Marketing firms will be eager to show you performance metrics as the tools are getting easier to use. Be sure that the numbers match what you are seeing with your sales and customer retention rates.
Persistence – the best advantage to outsourcing your marketing is the level of persistence will remain high throughout your engagement. While internal employee performance will determine their career trajectory, marketing partners are constantly working to earn repeat businesses. Your success is the biggest win they can achieve.
Let’s talk about the ways MMC can help be a strategic marketing partner to your small business.