Business Marketing and Innovation - The Drucker Way
“Because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.” Peter Drucker – 1973
While nearly everything in business has changed since that statement in 73; its meaning for businesses of all sizes has not. Businesses need to innovate both their offerings (services and/or products) as well as their marketing tactics to remain competitive in today's business climate.
While the internet has blurred what we think of as word-of-mouth advertising (the humanistic kind); at the same time it has gifted businesses with tools to extend their voice much farther and more quickly via the internet.
A business that complains about the lack of traffic to their doors, the phone not ringing, or the lack of sales - but does not market is like to a voter who complains about the government - but didn't vote.
With regards to business marketing and innovation – here are some solid tips
- Look at new ways to connect with the most prospects
- Stay connected with your customers (Or your competition will)
- Experiment with timing your blogging and social media activity to reach the greatest audience
- Make sure all your digital assets are discoverable (SEO) - web, images, video...
- Continually refine your keyword research to discover new opportunities
- Do not be afraid to try a new social media tool before your friends - go for it!
- Know what your competitors are doing online – as you pick up search engine market share, they are likely to change their game in an effort to regain it
- Try to market where your audience goes for their information
- For greater advertising success, try building trust through marketing first
- Using social media to tell stories about your brand might work better than using your website
- Write social posts about your industry, not always about your business
- Continually look for ways to build more link exposure to your website
- NEVER STOP
Marketing & Innovation - think outside the box!
About: Sidewalk Branding Company is a Rhode Island internet marketing & SEO/SEM firm. Award winning and internationally published, they focus on getting solopreneurs and small businesses (less than 25 employees or so) discovered online - locally.