When your marketing strategy isn't working
It happens. You have all the best intentions and for some reason your marketing strategy isn't working. Believe it or not, it has happened to some of the biggest businesses on the planet; think Kodak and Microsoft.
The smaller you are, the more nimble you can be become and this gives you flexibility to change and adapt fast.
When a marketing strategy isn't working, it tends to be for a number of reasons;
- Your marketing strategy was written by you, and not a professional
- Your people are not aligned to your business strategy and marketing strategy
- Your sales people are hopeless at selling and completely unmotivated
- Change is foreign to you and your team, so when marketing changes, you are last to take it on-board
- Execution of your marketing strategy comes to a halt when people get busy
- Your brand, website and marketing collateral is telling yesterday's story
- The market is slow, buyers have changed their buying habits and you haven't mapped out the new customer journey correctly
- Your product or service needs work
It can happen to the best of us. No marketing strategy is fallible. In fact, some of the most experienced marketers have written marketing strategies that don't work, and had to go back and re-think what they are doing all over again. That isn't the worse problem to have, but inaction is. If you don't do anything about the fact that your marketing strategy isn't working, your business may end up being on its last legs - and no-one wants that, least of not your employees and yourself.
If things have come to a stand-still, here are a few things to consider:
- Hiring a professional company to come in and write your marketing strategy
- Interview your customers, prospects and employees to get valuable feedback into your marketing strategy
- Do a marketing audit to make sure you have all your ducks in a row
- Review your product and service
- Do a competitor analysis
- Start from scratch and treat your business like its a startup. Re-engage all employees and redo your business plan, marketing and sales strategies.
For us, being a marketing company that is almost 15 years old, we are ready to take the next step. With technology we are able to do that, and our desire to on-board more licensees is part of our bigger, global strategy. Giving them tools that they would not have elsewhere is imperative to ensuring that they know they are part of brand to be immensely proud of.
Think about your company differently. Don't be afraid of change or getting it wrong the first time. From mistakes, comes great lessons that help us navigate the future with more confidence and greater success.