Make Your Business Strategy a Mile Deep and a Foot Wide
You can’t scroll through your social media news feed without coming across an article, video or photo that has gone viral. And don’t forget about the sponsored posts that force us to consume information all because Facebook says it fits our demographic. This communication overload can lead us to believe that we must utilize every marketing strategy out there in order to grab the attention of potential clients or customers.
This goes against the longstanding wisdom to be “a mile deep a foot wide.” And by that I mean – be selective about where you dedicate your time and money and choose only the strategies that best fit your goals and audience.
Instead, I’ve been seeing a growing trend where business owners spread their time and budget thin by trying to do it all. While an effective communications strategy requires a variety of tactics, it also requires you to be selective with your tactics and then focus your full attention on doing them exceptionally well.
So why should you rethink your complicated and scattered communications, marketing, advertising or business strategy? Here are four key reasons why being a mile deep and a foot wide will better serve your business and your bottom line.
You’ll be able to devote more resources to what makes the greatest impact.
When you try to do it all, you can’t provide each task with the time and attention it needs to produce the best results. So often, I’ve seen business owners throw their hands up as to why – with all that they are doing – nothing seems to be making a difference. Instead of stopping to take a look at the chaos and disorganization of their strategy, they try and do more. And so the downward spiral continues.
The only solution is to stop, breathe and take a critical look at where you’re devoting your resources. If the depth of your tactics is not yet a mile deep, your breadth should be no more than a foot wide. More simply put, first master the tactics that are producing the greatest results before adding in anything additional. Once you’ve found a good pace and are happy with your ROI, you can slowly explore with more variables.
You’ll be able to more easily identify what’s working.
If you begin your communications efforts with a massive strategy right out of the gate, it’s going to be difficult to identify exactly what tactic is helping you reach your goals. Changing everything at once will only add more confusion as to what’s really working – and what isn’t.
Instead, the “doing less, but doing it well” approach will allow you to more easily identify what each tactic is accomplishing as you slowly add them in one by one. If your web hits skyrocket over one quarter’s time and the only thing you changed was adding in a monthly e-blast, you can likely credit this as the catalyst.
Every strategy does not apply to every business.
When I help businesses to develop a comprehensive communications strategy, I’ve found that this is often misdirected with the desire to do everything they’ve ever seen another business do. I see innovative marketing techniques around me every day, but I know that only a fraction of these would work well for my business. The same is true for any business. Not every strategy is necessary, nor effective, for helping you reach your specific goals.
Business owners take note, you must consider many factors that make your business unique (i.e. industry, size, target customers, location) when selecting the tactics to best serve your business. While you might be inspired by the multi-million dollar grassroots campaign of a powerhouse brand, this is not likely the most feasible or effective strategy to help you reach your specific audience.
You’ll preserve your sanity.
Finally, your ability to embrace a “mile deep and a foot wide” mindset will remove the stress and frustration caused by wasting your resources on a cluttered and misdirected communications strategy. Don’t you want to do everything to the best of your ability? Trying to do it all won’t allow you to meet this standard. Instead, narrow the breadth of your tactics and focus on their depth. Produce quality and consistent messaging that helps to build a loyal and attentive audience.
Do you practice the “mile deep and a foot wide” philosophy? Why or why not? Share your thoughts!