The one marketing mistake most companies make
In truth, my weekday brings me more joy than any weekend could, and while I work tirelessly on my many projects, it is the satisfaction I get from each and every project I finish that really has me pumped.
Marketing Eye goes from strength to strength and we will have our biggest year ever in 2017/18. This is especially sweet due to the fact that so much work has been put into getting the company into the position it is now.
As I embark on an ongoing improvement phase in the business, I note that there is one thing that I am doing wrong, that many other companies fall prey to.
That one thing often determines our level of success, and whether or not we have what it takes to reach the heights of potential that lay in front of us.
The one thing
Marketing; the thing we do without realising it, but fail to implement at it's full capability due to other priorities falling in the way. I look at my business and as we have become bigger and a real force, I have taken my eye off the most important ball - and one that is my bread and butter.
In the early days, I use to do public speaking, some media commitments, networking, direct marketing, social media and more. It was all part of the strategy, as it is today. The big difference is that today there are other things that pull at our focus and sometimes our purse strings that holds us back - to the detriment of the company's success.
I say no to all public speaking other than charity, and social media has long been given to other people in the business who are doing a great job, but I know that sometimes people just want to hear from me. This blog and the many others we write are all great and informative, but we have realised that unless I write the blog, people drop off. In fact, unless I write this blog, our website drops up to 40% in unique visitors per month and this directly affects our lead generation and ultimately our bottom line.
It is marketing that fundamentally got us to where we are, yet it's the one thing we put to the side when things get busy, or profits reduce for whatever reason. It sometimes is simply a case of our attention being moved from one business or project to another.
Having a marketing strategy is one thing, but implementing it is another. Staying true to the marketing strategy and keeping someone accountable is imperative to building a business and having a sustainable growth path.
How to get back on track
- Commit to marketing; employ someone solely responsible for implementing your marketing strategy.
- Don't take short cuts; a big mistake is when you let a marketer, or want-to-be graphic designer design your company brochure or flyer.
- Ensure you have an up-to-date marketing strategy.
- Social media calendars are not optional anymore - they are a means to survival.
- Direct marketing whether it's through electronic direct mail or in the post, is critical. People need to hear your voice.
- Have a voice that resonates with your target audience, and not just yourself.
- Don't be afraid to try something new and fail as it is from failures that you achieve your greatest successes.
- Make marketing accountable for revenue.
- Build your database like it's the most important part of your business.
- Remember internal marketing equals external marketing. The more your employees talk about your business out of the office, the more successful it will be.
To think that mechanics are the last to fix their cars, and we joke about that - is interesting given that as marketers, we too seem to be the last to market our businesses and that is a huge mistake.