By Marita Greenidge
The last four weeks have been an absolute whirlwind. Thank goodness I landed quite safely. It began with the first major request from my client, Barbados Business Enterprise Limited (formerly referred to as CBET (Barbados)) – they needed a marketing plan.
I should mention that Barbados Business Enterprise Limited (BBEL) is the latest addition to the venture capital scene in Barbados. The company manages both a seed fund and venture capital fund, which is an essential component of the CBET shepherding model™. The other two components are an entrepreneur with an idea that has global potential and a shepherd (mentor), complemented by a team of business advisers, who help the entrepreneur design and implement strategies for successful business development. You can read a bit more about BBEL here.
I designed a very targeted marketing plan to capture key customer segments. Built into the strategy were core messages for each segment and cost efficient ways to effectively push these messages to the various customer groups. What does each group need to hear to convert them into our “customers”?
The Simon MBA thinking also kicked in so included in the plan are ways to measure each proposed strategy to determine what’s working and what’s not. I am very big on delivering results for marketing dollars hence I included these metrics to assess the value of each strategy. A review then tells you what’s working and what’s not and if there’s a need to make amendments. This helps to reduce wastage of marketing dollars.
The board of BBEL, which is made up of prominent Barbadian business people, was quite pleased. And after the meeting I felt like blowing a kiss to the Simon school for shaping the way I think about marketing because my focus is always on creating value. Strategies are chosen in line with company objectives and to ensure the organization gets bottom line results. If I can’t deliver such then I’m not bringing true value to the table. And who doesn’t like to bring value?
If you didn’t click on the BBEL link I posted above, I’d encourage you to do so. Working with a web developer I put that site up in less than 4 weeks because I wanted it to be ready for the official launch of our venture capital fund (which occurred on Friday November 13, but that’s a story for another time). I wrote all the content except for a few bios and the testimonials. Your thoughts and suggestions are certainly welcomed as we’re still expanding the website. It‘s designed with our marketing strategies in mind since I view it as a very powerful marketing tool.