One of the most common complaints we hear from business owners and prospective clients is, “my marketing isn’t working and I don’t know why!?!” What to do to fix that problem is the $100,000 question.
There is only ONE true measure of marketing effectiveness: leads. If your marketing isn’t generating the leads you need to grow your business, it’s not working. It's that simple.
Now all of you should know whether your marketing strategy is working. If it’s not generating enough leads, it's time for a closer look at what needs to be changed to improve your situation. First you have to find out what's wrong.
There could be a variety of issues contributing to this problem. Some of them might be core to your business. For instance, if you are delivering a horrible experience to your customers, there is a good chance they are telling everyone to stay away from your business.
Let's face it: all the marketing expertise in the world won't help you overcome that challenge. So, for the sake of this blog post, let’s assume you are doing a great job taking care of your customers or clients.
Unfortunately, this issue of underperforming marketing programs is usually pretty complex and to try and capture the solution in just 700 words is a challenge, but here are a few questions to consider if your marketing strategy isn’t working:
Who do you want your marketing to attract? You might be delivering a very generic message designed to appeal to many different types of people. When that happens, chances are it’s not very interesting to anyone. You need to know who your target buyers are and be intimate with their personalities, demographics, psychographics and behaviors.
Are you remarkable in your market? If you look like all your competitors, say the same things as your competitors and act like your competitors, then why would your prospects want to do business with you? You have to stand out. It might make you uncomfortable at first, but if you’re not remarkable, you’re invisible.
You have goals right? You know how many new visitors you need to your website and how many leads you want to get from your site, right? Better yet, you also know how many leads you need from all your marketing activities on a monthly basis to be sure you can get to your revenue goals. If you haven’t planned out your marketing down to the lead goal level, you have more work to do.
Are you executing enough marketing tactics to make a difference? One or two tactics isn’t enough to get traction and drive leads. Depending on your lead goals, you might have to execute 10 or 15 marketing tactics simultaneously to get the attention you need. Speaking of goals...
Does yur planned investment match your goals? If you want to generate an extra $1 million in incremental revenue, you can't do that with a marketing investment of $1,000 or even $10,000. You need enough money to build a sustainable, scalable and repeatable Marketing Machine that gets you to your goals. Not just this year—but next year and the year after too.
Are you executing the right tactics? If you are spending money on traditional advertising, direct mail, cold-calling, tradeshows, public relations or even a search engine optimization consultant, then you know that these tactics just don’t deliver the return on investment they did as recently as two or three years ago. You need to consider replacing them all with inbound marketing tactics that cost a lot less and deliver many more direct leads for your business.
Start Today Tip – If your marketing isn’t working and you don’t know why, it’s time to take a hard look at what you are doing, why you are doing it and how it’s benefitting your company. While it’s possible to fix everyone’s marketing, it probably can't be fixed in a day or two. You need to consider that reworking your marketing strategy is going to take a good 30 to 60 days at a minimum.
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Posted By Author Mike Lieberman, CEO and Chief Revenue Scientist
Mike is the CEO and Chief Revenue Scientist at Square 2. He is passionate about helping people turn their ordinary businesses into businesses people talk about. For more than 25 years, Mike has been working hand-in-hand with CEOs and marketing and sales executives to help them create strategic revenue growth plans, compelling marketing strategies and remarkable sales processes that shorten the sales cycle and increase close rates.