Question:

What is a Value Proposition?

A value proposition is your basic worth to a customer or client – the “raison d’etre” that they are hiring you or acquiring your product or service to better meet their goals.

Question:

Must I include my mission statement in all my public written or online documents?

No. You and your employees must understand the mission of your organization and follow its tenets in determining how you behave toward the marketplace. Although it is often good to articulate your mission to your target audience, it is not necessary to spell it out in your marketing documents.

As a start-up company I have limited funds. At what point do I need a strategic marketing plan?

Right from the beginning you need a plan that includes the articulation and proof of how you will accomplish your mission, an explanation of your value proposition, goals and objectives. You also need a two-year tactical marketing plan. Otherwise you will use a shotgun approach to marketing, spending marketing dollars without getting the results you would have if you had the plan and the focus

Are there rules for prioritizing a marketing strategy with a limited budget?

Technically no but in reality with a limited budget the rule is to maximize your ability to do guerilla marketing- thinking out of the box for inexpensive and creative ways to establish a presence and gain visibility to the right audiences. Post card mailings, e-mailings, effective use of public relations are some of the tactics. It is better to do one marketing program well than to try to do three programs in a haphazard way. Be sure to measure along the way for the proper feedback and the critical next steps.