When I approach any business—whether I am starting, turning it around, or preparing for an exit—my first step is to craft a comprehensive marketing strategy. Why? Because without a clear, actionable plan that defines how to reach the right audience, no business idea, no matter how brilliant, can thrive or sustain growth. The success of a business hinges on its ability to engage customers, create value, and outmaneuver competitors. That’s where a solid marketing strategy comes in.
For startups, this means assessing the market, understanding customer pain points, and positioning the product or service to address those needs uniquely. Without this groundwork, even the most innovative ideas can flounder under the pressure of unforeseen challenges and competitor strength.
In turnaround situations, businesses often struggle because they’ve lost touch with their market. I prioritize revisiting the marketing strategy to identify what went wrong and to realign with consumer demand. This might mean rebranding, repositioning, or shifting the messaging to better resonate with potential and existing customers. It’s about reclaiming relevance and reigniting growth through targeted efforts.
A perfect example of this is the transformation of Old Spice. Once considered an outdated brand associated primarily with older generations, Old Spice reinvented itself through a bold marketing strategy. They identified their target market—a younger, modern audience—and launched the highly successful "The Man Your Man Could Smell Like" campaign. This clever, humorous approach captured attention across demographics, repositioning the brand as fresh, appealing, and relevant. Sales skyrocketed, proving that a targeted marketing strategy could breathe new life into a declining business. This case illustrates how understanding your market and leveraging creative messaging can turn around even the most traditional of brands.
When exiting a business, a refined marketing strategy can significantly increase its value. Potential buyers look for businesses with strong market positions and growth potential. Demonstrating a robust, data-backed marketing plan can elevate a company’s appeal and justify higher valuations.
From start to exit, a well-thought-out marketing strategy isn’t just a part of the process—it’s the foundation that ensures success. It guides decision-making, aligns the team’s efforts, and, ultimately, propels a business to achieve its greatest potential. Without it, everything else risks being directionless. Connect with me today and begin crafting a compelling marketing strategy.
Written by Darlene M. Ziebell
