Home' Border Enterprise : Enterprise Spring-Summer 2009 Contents 34 enterprise
Loans? Yes we do those.
And lots of them.
Call Jason McKenzie at the Albury branch on 02 6023 9666
to make an appointment.
Commonwealth Bank of Australia ABN 48 123 123 124.
NINA HENDY reports that devising the best
way to spruik a business is half the battle
SHOUT YOUR MESSAGE
AS the list of marketing options
grows to include social
networking, email marketing and
whisper campaigns, small- and
medium-size businesses must
have a solid marketing strategy.
But the truth is that more than half of them
in Australia don't bother. A recent survey by
business-management company Access
Management Corporation found 58.9 per cent of
small-business owners don't prepare an annual
marketing strategy or attempt to identify the benefit
and cost of marketing. This could be why the
failure rate of small businesses is so high in the
The director of Marketing Elements, Cecelia
Haddad, is not surprised by the research.
"A lot of businesses don't put much thought into
a marketing plan and as a result, it's often done
ad hoc," she says. "Businesses need to realise
that marketing isn't an expense but a legitimate
But a lot of small businesses don't know how to
develop a marketing strategy.
"Often they will try a marketing technique
based on their own ideas or what may seem like
a bargain only to realise it only reached a small
percentage of their target market, by which time
their budget is blown," she says.
A marketing plan should look at how a business
will promote itself to its target audience, usually
over a 12-month period.
Haddad says a marketing plan should include
a detailed budget and examine the best ways to
promote the business.
"You want [it] to take in analysis
of your competitors and to have
specific goals," she says. "It also needs
to break down how much you've set
aside for marketing, how you're going to
spend it, look at who your target audience
is and how you tackle internal and external
A marketing plan for a small business might be
only a few pages long but larger businesses often
require a more-detailed plan.
The plan needs to be revisited monthly -- or, at
the very least, quarterly, Haddad says.
Business owners can write their own plan or
hire an expert, which would cost $1000 to $7000,
depending on the size of the business and who is
Zadro Communications recently created
Comm*Bat, which helps businesses determine
marketing priorities for 12 months.
Managing director Felicity Zadro says small to
medium businesses often find marketing plans
intimidating and expensive.
"We found that companies are either too busy to
stop and write a marketing strategy or simply don't
place enough value on having a plan in place," she
The founder of storage business Fiona Kate,
Fiona Chandler, changes her marketing strategy
"At first it was geared toward PR but we've
grown our marketing as we can afford to
and now also include writing articles about
storage and have created a blog," Chandler
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