Read the articles Five Questions That Make Strategy RealLinks to an external site. and Strategy First. From the two articles, specify the main differences

N O R T H W E S T I N D I A N A B U S I N E S S M A G A Z I N E | J U N – J U L 2 0 1 9 5

Strategy first Define ideal prospects, key points of differentiation before committing to specific marketing tactics

Marketing can feel like throw- ing a dart at a dartboard. You rarely hit a bull’s-eye, even a slight miss can dramatically

impact your score, and too often, your throw misses the board entirely.

Implementing marketing tactics like social, email, ads, sponsorships, etc., that don’t support an overall market- ing strategy feels like playing darts blindfolded. You don’t know which way to throw your dart, and even if you are lucky enough to hit something, you have no idea if you scored any points.

Strategy is often missing from marketing planning because it is confused with tactics, goals, missions and objectives. Tactics get the lion’s share of the attention with most marketing articles focusing their advice on ads, sponsorships, endorsements, email campaigns, media outreach, websites, testimonials, referrals and case studies.

Becoming an industry thought leader isn’t a strategy—it’s an objec- tive. Serving customers with respect and integrity isn’t a strategy—it’s a mission. Growing sales in a new market isn’t a strategy—it’s a goal.

So what is a strategy? A marketing strategy defines your ideal prospect and identifies and communicates crit- ical points of differentiation between you and your competitors. It is an explanation of your plan to reach your objectives. Your strategy is how you are going to get there, not what or where

“there” is.

Decide who matters Marketing pieces that don’t speak

to their intended audience lack focus. Using an ideal prospect profile as the basis of your strategy helps ensure your marketing is targeted to your ideal prospect. Who is an ideal prospect? For existing businesses, start with your

ideal customers. Sort your customers by most profitable, most sales or anything else that makes sense for your busi- ness. Look for customers who want and value your product/service. Use these customers as a model to create a profile of your ideal prospect. Each profile includes a simple paragraph or two that describes your prospect as if they are sitting across from you. Include a demographic descrip- tion, an explanation of what they want, a description of their problem(s), an under- standing of how they buy and the best way to communicate with them in each profile.

Be different By default, most prospects think

that your business is different from the other providers in your industry. An essential part of your marketing strat- egy is identifying and communicating a simple idea or position that makes your business different from the rest of the market in your ideal prospect’s mind. The difference needs to be in the way you sell your service, the way you package your product, the way you do business or your ability to transform the lives of your prospects.

Quality, excellent service and a fair price aren’t compelling differentiators— they are expectations. Being different for difference sake isn’t enough to sepa- rate you from your competitors. The only persuasive difference is one that is valued by your ideal prospects.

Without a blindfold and with a little practice, even inexperienced market- ers can hit a few bull’s-eyes and win more than they lose.

Publisher/Executive Editor Troy Linker

Managing Editor Larry Avila

Director, Advertising Sales Melanie Aylsworth

Contributing Writers Larry Avila • Lesly Bailey • Lauren Caggiano

John Cain • Jerry Davich • Jane Donahue Annemarie Mannion • Carrie Napoleon

Philip Potempa • Michael Puente Jack Walton • Daniel Schultz

Editorial Advisory Committee Erika Dahl • John Davies Lorri Feldt • Brett Fuller

Barbara Grimsgard • Keith Kirkpatrick Leigh Morris • Raeann Trakas

Michelle Searer • Anthony Sindone Mary Wellnitz • Linda Woloshansky

Photography Michelle Hamstra

Magazine Design/Production Heather Pfundstein

email: [email protected] web: nwindianabusiness.com

visit: facebook.com/nwindiananbiz visit: twitter.com/nwindianabiz

visit: linkedin.com/company/nwindianabiz

Northwest Indiana Business Magazine 905 Joliet St #237, Dyer IN 46311

is owned and published by Linker Media Group, Inc.,

Troy Linker, President and CEO.

Many contributing writers are experts from various fields and provide advice to our readers on their individual specialties. Experts provide general information, for educational purposes,

regarding legal, accounting, insurance and other professional issues. This information is not a

substitute for specific professional advice given by qualified professionals who are aware of an

individual’s particular circumstances. © Copyright 2019. All rights reserved.

Reproduction without permission is prohibited.

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JUN – JUL 2 0 19

P U BL I S H E R ’ S N OT E N W I N D I A N A B U S I N E S S . C O M

u Troy Linker is executive editor and publisher of the Northwest Indiana Business Magazine.

u Cover photo of Thomas Dakich

by Michelle Hamstra

R E A D O N P H O N E<

Copyright of Northwest Indiana Business Quarterly Magazine is the property of Linker Media Group Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use.

Copyright of Northwest Indiana Business Magazine is the property of Linker Media Group Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use.

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