6 Major Reasons Why Your Marketing Fails and How to Fix Them Immediately
One of the biggest questions we’ve been asked by Small Business owners at Clients Oasis is, “how do I effectively market my business, because I’m seeing no results from my marketing efforts!?”
Marketing is all about telling the world of your passion, but what if the world does not buy into your passion? Is there something you are not doing right?
Dear business owner, clients do not really give a hoot about the labor pains, they are more interested in the baby. They do not want to buy what you do, what they buy is how you do it. If you can have a firm grasp on these facts, your marketing techniques will be highly progressive.
Everyone wants the smooth and wide way out. Once the marketing technique is easy and is said to yield great profit, we view it with awe and respect. But what happens when they all turn to smokes as you apply them? What if they are actually powerfully and effect, but there is something you are not doing right? Would you ditch them or tweak and transform them?
Before you make that decision, hold up for a bit! Get you pen and writing pad, because I’m about to tell you 6 major reasons why marketing fails and you’ll also discover how to fix them. Apply these tips into your marketing techniques and have your marketing bounce back!
1. Failure to Do a Market Research
Market research is basically the in-depth study of your client’s preference and the competition. In academics, you can regard it as feasibility study.
Brace up, because I am about to strike a nerve. Have you done a thorough survey to see if people want, like or care about your products and services? This, my friend is where the failure began. You may have failed to do an adequate market research.
There is this excitement that comes with a new business idea, we get it. But a wrong assumption that the market or your clients will love it is one of the biggest business mistakes you can make. You obviously cannot afford to take chances on ideas without getting adequate information on what your market audience wants and how much they are willing to pay for it.
Asking only a few clients and basing your strategic business decision on that is wrong. Talk to thousands, not ten or thirty people. A few persons do not make up your whole business. You will be painfully disappointed when you get low sales and returns.
Have a market survey done, research on the internet, read prints and use other potent techniques to gather information on what’s trending in your industry. Individuals have different tastes, priorities and ideals.
A market research not only helps you know what your audience want, but you can also get great ideas and suggestions on added products or services that will work best with your ideas. This opens your eyes into other areas where you can expand for growth.
You will also have a view of what your competition is doing. What if they have something solving the same need? That means you have a great idea of what you are up against and can go head to head with them, approaching from several angles.
Spare yourself the heartbreak, wasted time, emotional turmoil and money. Begin henceforth to conduct a thorough marketing research project for testing the waters.
2. The Swarm Style of Marketing
While choosing marketing techniques, detach yourself from the swarm mentality. You do not have to do what everyone does or follow every new and greatest hot trend. This is a sure recipe to marketing failure.
There is actually no perfect or magic marketing plan that will guarantee consistent results for a business owner indefinitely. Things change, laws are subject to review and your business is unique. What works for a fitness coach may not work for a realtor.
This is because we all have different audiences, messages, goals and budgets. As such there are over a hundred marketing techniques for different industries. There is no universal law or one size fits all marketing plan.
For instance, the rave for every business is to have a twitter account where you can grow your audience. Every advisor will swear by it, but just what if your audience is not on twitter? What if they are on Quora or even Facebook?
The smartest thing to do is to create a marketing plan that suits your business out of the whole lot of techniques. This marketing plan will align all you need to do, step by step until you reach your target and succeed. The plan should include;
- Establishing your target audience and niche market
- Getting an in-depth analysis on your competition
- Getting a firm grasp of your unique market positioning
- Setting your marketing goals and budget
- Expert crafting of your core message
- Deciding on and setting your prices
This is a marketing plan that draws information from every type of marketing technique there is out there. Simply put, whatever you do, avoid jumping on the band wagon of every marketing technique you happen on.
Those are shotgun approaches to marketing that can send you to the cleaners before you say snap! Do confident marketing, avoid quick marketing.
3. No Follow Up: Leaving Cold Trails
When prospects contact you to ask about your services, it is because they are interested in them. Those are warm leads in your hands. Do you follow up on them?
We understand the fact that you should not overdo it by pestering anyone with calls. But this school of thought has left business owners leaving cold trails around. Once they make the first follow up call to a lead without getting any response, they abandon ship.
It is a different matter if after talking, the person expresses outright disinterest. But remember the fact that the prospect made the first call. That denotes an interest in what you market. Secondly, there are a couple of reasons why you may not get a response from the lead at that time. May be family, health or work life issues.
Lots of legitimate reasons which we cannot exhaust here. We are all busy persons, so learn to give benefit of doubt. The worst case scenario is that your mail may even be lying in their spam. In a nutshell, life got in the way.
Below are the rules of thumb to work with when you need to follow up a client.
- Make your first contact within the same business day
- Make the second contact after three days through the phone
- Make the third call ten to fourteen days later
And if after all these, the client is still resistant to you, you can leave the client to make their decisions.
4. Marketing Blind
If you go into the business of marketing blind, you are heading for the pit. A business without a marketing plan is like hiking a trail with your eyes closed. You’d subscribe to about every method you see, blown by every wind and influenced by every style.
You will have no business stamina or focus, because there is no plan. You forget that your business is unique and can run only by your blueprint, not how others run their businesses. You need a business plan to help you answer some foundational questions like;
- Who are my ideal clients?
- Who are my target audience?
- Where can I find my audience?
- How can I segment my audience?
It is not enough to have your marketing plans in your head, draw up one! Take your time to create sophisticated documents that make your plans valid. Your business plan is not something to keep in your head, put it down.
Make sure to always update your business plan every year. This is because business techniques are dynamic. The times change, so does need and technology. Hence, you have to adopt updated techniques to handle them. If you don’t keep up, you’d be left out.
Creating a business or marketing plan is the first thing to do before you begin that business at all. If you haven’t drawn one, now is the time. Take off your blindfold and get down to the business of taking the step to build your business foundation. A little research, a little courage, a little thinking and you will come up with a magnificent business plan.
If you feel that it is a huge task and you’re scared, see a business coach for support.
5. Lack of Retargeted Marketing
Let me paint a scenario for you. A prospective client sees your ad on Facebook and goes, wow! Look what this person does, I’m so stoked! This is what I need. And just as the person is clicking on the opt-in button, their phone, PC or iPad battery runs down. It may even be the case of a storm knocking out power or a friend walking in. That’s a distraction and away, your prospective client goes with it. But if you retarget your marketing ad at strategic times, you have better chances of catching that prospect again.
Putting out only one marketing ad cannot perform any sales magic; rather, you’re on your way to doomsville. Marketing is not a sprint; it is a marathon, if you know what I mean. Sprints last for fractions of a minute and require all your muscle power and quick reflexes.
A marathon on the other hand is continuous and goes on for hours. You will need all your muscle power, endurance, and energy conservation to finish. This is why a sprinter has different training from a marathon runner.
Your business marketing technique should be done marathon style. Be consistent, continuous, enduring and smart. You have to repeat your ads at scheduled times to gain the attention, trust and respect of your audience.
You have to imbibe retargeting to make them take action. Just like crunches and planks, you don’t do one and go relax waiting for your abdominal muscles to tighten up. You are consistent on it, and your brain keeps sending messages to that particular area of your body which burns the fat and builds your abdominals.
Pace out your marketing times, because everyday marketing can piss people off. I get pissed off too, especially if it is the same darn thing. Rather, approach your marketing from new perspectives, and outline the benefits of what you are marketing. The benefits are what clients want to see, and that is what your ads should be about.
Make it once a week or twice every ten days and this will ensure that they see and hear you. This works for all marketing channels like Facebook ads, remarketing on Google Ads and all.
6. Failure to Track Progress
As a rule, your marketing results must be traceable and measurable. Consistent tracking of results from marketing techniques help you decide which is more potent that you can use.
Take for example;
- Did your last email broadcast bring in dramatic sales and by how many percent?
- Did your Facebook update raise traffic to your website?
- Did people subscribe to your mailing list as a result of your free offer?
These and more are the things to look out for. Do not start a new marketing technique, if you have no clear ideas of the results you want, and how to measure them. By each month end, take an assessment of the result you want and the results you got. Then make tweaks where necessary. But if you consistently get poor results, then maybe such technique is not for you.
Are you ready to excel in business with your potent marketing technique?
You can make your marketing effective and thereby excel in business by avoiding all the pitfalls aforementioned. Do not make the mistake other business owners make by taking a lot of things for granted.
Take of the blinds and draw a marketing plan, do your market research and do not follow the crowd. Use retargeted ads, follow up on leads, and track your success or failures. This will hasten your way to the top.
LOUIS-KENNEDY CHUKWUKA is a Master Business Coach and the founder & CEO of Clients Oasis, LLC. He makes it effortless and exciting for coaches, consultants and professional service providers to get new perfect clients. He’s helped coaches, thought-leaders and service providers all over the world take their businesses from struggling to 5 and 6-figures per month, while serving the world with complete integrity and authenticity.