It is becoming common to see marketing failing your brand. Hence, investing in marketing seems like a risky bet. With so many companies struggling to realize the potential of their marketing strategies, some people wonder whether the money spent on advertising is truly effective. What if we could spend less? What if we could find a way to get the same results with less investment? Would that be a better use of our resources?
To answer these questions and more, let’s start by looking at why many companies fail at their marketing strategies.
1. They Don’t Use Their Customers as a Marketing Plan
The first reason marketing fails is that its main focus is not the customer. To be successful, marketing must focus on people. A company’s customers are the lifeblood of its business, and they are the key to the whole operation. To market effectively, you must know who those customers are and what they want. Once you understand their needs, you can tailor your message to match them and produce results. If you don’t start with your customers in mind, however, it will be impossible to build a strategy that works for them or one that attracts them in the first place.
2. They Lack an Integrated Marketing Plan
A marketing plan is an integrated approach that takes all of your marketing efforts into one cohesive system. It’s meant to be a comprehensive strategy covering all aspects of accomplishing your business goals. The marketing plan recognizes that every decision about your business affects the needs of potential customers. Whether it’s the color of your logo, whether you have a website, or what kind of advertising you use, everything matters. If you don’t do it right, the results will be diluted and lack impact.
3. They Don’t Measure Results
Another problem with most marketing efforts is that they aren’t based on their goals. When you don’t make your marketing efforts dependent on achieving the results you need to grow, you will fail. You don’t have to have a business degree or extensive entrepreneurial experience to understand this basic fact. Every business is a collection of activities designed to achieve one thing—result in more sales or customers than before.
4. They Don’t Embrace Technology
Companies today must use technology in marketing activities—and with good reason. Technologies such as social media and search engines have made it easier than ever to reach potential customers. But for these tools to be effective, businesses must understand them properly and integrate their use into their overall marketing strategies. Otherwise, you run the risk of wasting money in an attempt to reach people who aren’t even there.
5. They Don’t Create a Culture That Values Marketing
The final reason marketing fails is that companies are not serious about it. Many people fail to realize that marketing is more than just putting ads out there, and it takes a lot of discipline to do it successfully. A piece of paper might work, but for your brand to be successful over the long term, you must create an environment where working hard on marketing is encouraged and rewarded. Marketing success doesn’t just happen; you have to make it happen by how you do business and treat your employees.
The bottom line is that if you are serious about making your business successful, you need to focus on getting the results you want by focusing on people—not just looking for ads or buying fancy technology.