Marketing strategy – online or offline?

This is one of the most common questions I get. Should I do my marketing online or should I stick to traditional (offline) marketing? The short answer is “Use both”. The mix of these two approaches will be determined by the industry you are in, what your competitors do, but most important of all – who your target market is. When consulting, my approach is to start off with a situational analysis – where are you today? At this stage it is important not to make any decisions – just state the (honest) facts. The next step is to set realistic and measurable goals that will “stretch” you a bit to achieve. The third step is to develop a strategy on how you will achieve these goals. Next you will have to implement this strategy. This step is crucial, and many companies fall short. Lastly one should measure performance (against budget – cost and profit) and take corrective actions and adjust to the ever changing environment.