It may be the dead of winter, but spring is just around the corner. As you’re counting down the days until we move the clock forward and bring out the picnic table, why not take the time to re-evaluate your marketing strategy? Is it working for you? Does it closely meet the needs you have at this stage in your company’s growth, or does it seem oddly mismatched – as though it was geared for a business much less developed or much more mature than your own? Or are you using yesterday’s tactics trying to reach today’s audience?

In last month’s corecubed monthly newsletter, we explained how new start-up companies could design a marketing program that would provide the exposure they needed while still operating on a tight budget. This month, we’re looking at the second stage of a business’s life span – the established and growing business – and the types of marketing strategies that make a difference at this stage of a business’s growth.

For ideas on how to implement successful marketing at this stage, consider the following:

TIP #1: Recognize and understand what it means to be a growing business.

Darrell Zahorsky, About.com’s expert on small business information, here defines a growing business as one that has “made it through the toddler years and is now a child. Revenues and customers are increasing with many new opportunities and issues. Profits are strong, but competition is surfacing.”

Increased competition means an increased chance that some potential revenue could go to your competitors. A well thought-out marketing strategy is essential at this stage. But with a steady stream of profits at your disposal, you’re in a much better position to implement that strategy.

TIP #2: Focus on your branding.

Last month, we suggested that start-up business owners jot down the various benefits their product or service provides to the customer and focus their marketing materials on expressing those benefits.

Now that the business is in a stage of growth, this is going to become even more important. Before you invest in more far-reaching and expensive marketing, advertising or public relations projects, take the time to review the marketing materials currently in your arsenal. Do they make consumers in your target market want to buy your product or do they stray off message? Are they branded to your current company image? Are they targeting the right audience? All marketing communications should help to promote the “right” image.

“If you have a cost-savings image, but actually market to affluent customers, you need to change and expand your image,” explains Vicki Gerson in her article entitled “Characteristics of a Successful Business”. Make sure your business cards and envelopes reflect quality, and design marketing materials that reflect the image you are trying to present.

This means that all of your marketing materials – whether brochures or letterhead – should be consistent with the image you are trying to project. If you feel some of your materials don’t meet this criteria, weed through them and throw out the bad seeds. Using an outside marketing communications partner will bring a level of experience and insight that can make all the difference in the world to your outcomes.

TIP #3: Accept that marketing is essential.

Now that your business is making money and expanding into new territory, the task of marketing that business is going to become a lot more complicated. Depending on the size of your company, there is a good chance you’re going to be launching new product campaigns, reaching out to a much larger customer base, forming more strategic partnerships, releasing more marketing materials and doing an increased number of tasks that relate to marketing your products or services. For the frantic business owner and the current overworked staff, all of these tasks can very quickly grow to become a headache.

In this situation, it might be time to consider hiring a marketing director – a member of your staff who can organize all of your marketing endeavors and make sure they’re in line with your strategy. And it makes good marketing sense to utilize a professional communications partner like corecubed to expand the reach of that new marketing director, giving her the power of a complete design, research and PR department at her fingertips. The one thing you do NOT want to do is to relegate marketing to an administrative assistant, a member of the IT department or to promote someone into the marketing job who does not have the education and experience to do the job correctly.

For tips on how to choose a good marketing director, click here.

TIP #4: Be selective about the work that you take on.

When your company was still a start-up, it was very important to do what was necessary to get your message out. Now that you’ve had some success and are seeing some growth, you’re not as desperate. Add to that the fact that you probably have more funds that you can allocate to the marketing budget. (2% to 5% of gross revenue is the average allotted to a marketing budget.) Now you can take the time to rethink your strategy and invest in marketing projects that are more expensive and reach more people.

In other words, gimmicks are out. You can get rid of the guy who stands on the street corner dressed as a pig to advertise your new BBQ sauce and replace him with a nationwide targeted media strategy. You’re reaching more people now – and you can afford to do it in a way that builds respect for and awareness of your brand. Building third party credibility through media relations is a proven technique for business growth at any stage, but particularly for a mature business.

Be selective of who is charged with setting your company marketing strategy, assisting in developing the right branding for the company, and in using all channels to reach your targeted and preferred customer. A good marketing partner will make all the difference at this stage in the business cycle.

Hopefully these tips have been of some assistance to you as you refine your marketing strategy for your growing business. In the meantime, keep an eye out for our next newsletter, as we discover how established companies can employ a marketing strategy to grow their business. Don’t forget that we’re ready to assist you with any of your marketing or communications needs. Visit us online at www.corecubed.com, contact us at 1-800-370-6580, x1 or email us at info@corecubed.com. At corecubed, we partner with businesses serving as your expert communication arm, offering superior strategic integrated communications services with exponential results.

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