The Three Biggest Reasons for Marketing Failing are …
1. It never happens
In others words, the great Marketing idea, or strategy is never implemented. For example, a lot of people tell me “I am on LinkedIn, but I don’t really use it”. I often ask business owners – “When did you last send out an email campaign?” The answer is often “About three months ago.”
The truth is that the word most often missing from most small businesses marketing is the word ‘CONSISTENCY‘. In other words, doing things in a consistent and ongoing manor.
So often I see businesses who only market themselves when they are not very busy. When they are busy they stop marketing. I also hear business owners telling me “I can’t afford to work with you right now Steve, but as soon as more business comes in, I will give you a call.” Do you know what? It never happens.
Sales and marketing, or lead generation and creation, needs to be driven. I once heard a lovely saying: “Marketing is like a wheel barrow. Nothing happens until you push it forward”.
2. It is never measured
One of the biggest ‘sins’ in marketing is not measuring your results. Why? Because you can not manage what you do not measure, so if you are marketing your business using a particular strategy then you need to know whether it is working or not. Let me ask you a question: What return on investment do you get from your website? How much did your website cost you and how much has it made for you? Do you even know this KPI?
You also need to consider how many people visit your website on a monthly basis and how many leads that creates. And what is your conversion rate and life time value from those leads?
Without this step it is impossible to implement the next step – that is, improving the results that you are getting.
3. It is never improved
The third reason for marketing failure is not really failure at all; it is is lack of maximisation. Let’s take a look at email marketing. For example, businesses that use email marketing are generally very poor at doing so and they say email marketing does not really work. The truth is that they have never tested it in order to improve the performance. They could:
- Change the headline of their emails to improve performance (I once did this for a clients and made them an extra £2.2 million on the next email that they sent out)
- Change the copy
- Test using plain text, as apposed to newsletter type html
- Test using, or not using, testimonials
- Test adding video
- Follow up all opens and/or click-throughs
- Add a new call to action or guarantee
- Send the campaign to a different or new target market
- Change the use of colour
My point being …
Take action, measure your results and then work on improving the results that you are getting. If you want to learn move about Prudent Marketing, then join me at one of my half-day workshops. They are only £69 and the ROI you will get is nothing short of outstanding. Click here for details.