Pulling back the curtains on little marketing mistakes that kill your business growth
I was in a conversation with an exasperated businessman. He
wanted to talk about his failed attempts at marketing. He said he had tried
everything and nothing was increasing his sales. So I started to ask some basic
questions, like who are you targeting, what problems do they have that your
brand solves, what’s your competitors doing to sell them, and why did your
current customers buy from you in the first place? You may not be surprised,
but he didn’t know the answer to any of these questions, but he did know that
no one was contacting him from his website or his social media or the brochures
he had printed. They all cost him a lot of money, he told me, and he had had no
return on his investment. To him, defining a target market and researching
their needs was not marketing. Creativity was marketing! Printing nice looking
brochures and producing a website was marketing.
There is some general confusion that happens around creative
marketing tools and marketing strategy. You cannot be effective at marketing if
you try to put your creative ideas ahead of a plan. If I were building a house,
might I need a hammer? Yes, but if I had a hammer, but no plans, could I really
build a house? No. Before you can effectively begin to market your products and
services, you have to create a strategic marketing plan. Too often, the
creative gets in the way and hampers your business moving forward.
There are some other common mistakes that businesses make
when they are trying to market their brand. Here is a list of the more common
mistakes I see.
1. Believing
everyone is my target market. Unless you are selling air, not everyone is going
to be attracted to your brand. If you are going to be effective in marketing,
you have to define the people who are most likely to buy from you. Your brand
may appeal to people at a certain stage of life or in a particular industry.
You may be likely to attract people who have similar life experiences or live
in a certain geographic region. The narrower you can define your target market,
the more effectively you can market to them.
2. Not
listening to the needs of people in your target market. You should get to know
the trending thoughts of your target market. They will tell you what they want
from you. Do a little research and it will help you effectively market to them.
3. Not
believing the research. Closely tied to not listening is the business leader
who hears what his target market wants, but thinks he knows better than the
group he is trying to sell. Do you see the absurdity of that kind of thinking…
I know better than you what you want to buy from me!
4. Not
understanding the differences between you and your competition. If you are
going to be effective in marketing, you have to make a distinction between your
brand and theirs. If you have listened to your customers, you should be able to
see where these differences make you exclusive with them. Market this
difference.
5. Forgetting
about your current customers. Too often businesses are too focused on new
customers that they forget about those who have bought from you in the past.
Give them a reason to come back to you through your retention marketing
efforts.
6. Believing
social media "likes” are sales generators. Social media engagement certainly
has its place in your marketing plan. It helps you gain a solid reputation and
broaden the appeal of your brand to more people, but it typically is not a
direct line to your cash register. Social media has a role to play, understand
it for what it is.
7. Not
tracking your marketing results. If you don’t measure, you have no idea if you
are being successful or failing with your marketing. It is another way to understand
what your target market wants or doesn’t want from you. Not everyone will fill
out a customer satisfaction survey, but everyone votes with their buying
habits. Make sure to track the path from your marketing to the sale.
8. Narrowly-focused,
unbending marketing planning. Chalk this one up to the "we’ve always done it
this way,” mentality. Look, marketing is a fluid thing. People are fickle: what
they loved yesterday they will grow tired of eventually. You have to keep
things fresh in marketing. If you never change your marketing, it will
eventually fail you.
Any of these mistakes can send your marketing off in the wrong direction. They will stunt your growth. However, let them go on long enough and they will kill your business growth. The good news is they all can be corrected. If you find that you have made some of these mistakes, take a step back and regroup. Now is a good time to pull the curtain back and evaluate how you are doing. Create a plan that is actionable and measurable. Base it on your defined target market.