Consider this, 76 percent of people think that marketing has changed more in the last two years than it has in the previous fifty years!
There is no doubt that marketing is important and that it is forever changing. It is also the only way to get the name of your business out there so that it can grow. This means you have to keep up.
However, there are so many marketing strategies available you may be confused about where to begin. In order to succeed in marketing, you have to tailor your strategies to your individual needs and the needs of your business. Here is a look at four marketing fails and how to avoid them.
1. Not Defining What Success Will Look Like
In order to gain success, you have to define what it will look like for your business. Only then can you work towards achieving it.
Make specific goals. For example, define how many sales or sign ups you want from a campaign. You can also decide what you consider a good cost per lead.
These are just the basics, if you look deeper you will find other goals for your specific situation that will help you define success.
2. Changing Your Strategy Too Often
When you are involved in marketing there is always a new strategy around the corner. Learn to avoid the shiny new object syndrome.
The lure can sometimes be irresistible, but it is usually to the detriment of your current campaign. Remember it can often take weeks or months for a marketing strategy to prove whether or not it is effective.
You have to be patient, it takes time to find the right audience and the right message. Patience is one of the biggest virtues of marketing success.
3. Poor Incentives Can Cause Marketing Fails
When it comes to incentives you must differentiate your business from the next. You don’t have to break the bank, but you must give value.
Try giving free resources, doing an informational video series or a giving away a free eBook on your website. If you sell products you can also try giving a significant discount on one of them.
Whatever you do it cannot come across as invaluable or it will not be an effective marketing vehicle.
4. Neglecting to Build a List
Google and Facebook ads have propelled businesses into stratospheres that were impossible decades ago. However, no matter how good a marketing strategy online advertising is, you still you need to build your own custom audience.
It is often said that “the money is in the list” nothing could be truer. Focus on building your email list even with your ads.
Send people to a landing page where they can opt-in to get your lead magnet. Your lead magnet is something valuable that you offer for free.
Once you have their email address you can market to them consistently for free. Finally, don't forget that you can always get help, so enlist the help of a marketing agency if you need help.
Marketing fails occur when you are not strategic about what you want to achieve. You must know exactly what kind of return you want on your investment and what constitutes success for you.
You also need to be consistent, you can’t go chasing after every new method that comes along or you will never see success. Finally, you must build a list so that you can have your own custom audience to market to whenever you want.
If you would like more marketing tips, please visit our blog.
SOMD Connect & Associates