It is June 1. Did you hear the bell ringing? Do you see
the clock ticking down? The year is nearing the halfway point, which means it
is time to evaluate how you are doing in reaching your goals for the year. Are
you halfway there? If so, congratulations, and keep going. If not, there is
some action you need to take to catch up.
In nearly every sporting event, there is a break halfway
through the game. Halftime is a great time to make adjustments and come up with
a strategy to finish well. The same is true of marketing in your business. If
you find yourself lagging behind on your annual sales goals, what is causing
you to do so? Typically we can point to some common obstacles that cause sales
to move slower than expected. For instance, market conditions may have changed.
When we build a marketing strategy to meet sales goals, we do so with some
assumptions about the economy, consumer confidence and the availability of
revenue to buy our products and services. Those situations may have been
altered. If so, your marketing needs to change to reflect this new reality.
However, sometimes marketing is not helping to drive people to a sale because
the promotion is not up to par. This is where you have to be strong enough to
hear criticism and reform your marketing plans.
Here are some common points where marketing fails and what
needs to happen to reverse the downward trend:
•
Marketing is not effectively
promoting the brand so that the consumer knows it by name and understands what
it is. This is an awareness marketing problem that can be solved by being more
ambitious in how frequently and where you place your brand and its
messaging.
•
There is no distinction between your
brand and your competition (or if there is, yours is inferior to theirs). You
need to identify the uniqueness of your products and services and promote it.
The more difference there is between your brand and the competition, the more
consumers will gravitate toward you.
•
There is no compelling reason for the
consumer to buy your brand. It doesn’t solve their problems or make them feel
better. You need to get to know your target market better. Find out what causes
them angst that your product and service can fix, or you need to find a new
target that fits your brand. In other words, don’t waste your marketing efforts
trying to sell to people who will never buy your brand.
•
You never ask the consumer to try
your brand. This is often a mistake when you see marketing start and stop at
brand awareness. Build a marketing promotion that asks for the sale and makes
it easy for the consumer to say yes.
•
You have not given your old customers
a reason to buy from you again. It is a mistake to ignore your current
customers in pursuit of potential customers. Once someone has bought your
brand, it is much easier to convince them to buy again and again. Build brand
loyalty.
If you find any of these are keeping you from effectively
marketing your brand, I would advise you to first define your specific problem.
Make the change to your strategic marketing plan now. Don’t wait for next year.
It is nearly halftime. It is time for evaluation and adjustments.