Every company, regardless of size and the products or services they sell, needs a successful marketing strategy. The right marketing strategy can help companies attract new clients, promote their products, and expand their markets. Unfortunately, despite the many undeniable benefits of a well-thought-out marketing campaign, many companies fail to devise effective strategies—if they bother investing in marketing at all.
According to a HubSpot report, 71 percent of marketing teams that responded were using ineffective methods to market their businesses, goods, or services. These companies complained that their methods fell short of their goals and were doing nothing to help their businesses grow. Why, when there is so much information available to marketers, are so many struggling with creating effective marketing strategies? This post explores the common pitfalls you and other marketers face and what you can do to prevent them.
You Don’t Know Your Audience
You cannot market to your audience if you do not know who your audience is. Regardless of who you turn to for marketing advice—whether it be Mark Crumpacker or Neil Patel—you will find that the first step of every marketing strategy begins with market research.
Companies who fail to research their target audiences risk creating content that does not speak to their potential customers at all. What this might mean is that even though every other aspect of your branding is on point—from your logo to your brand’s colors to your website—it will all be ineffective in attracting new customers.
You can prevent your marketing efforts for being for naught by spending time creating various marketing personas based on different segments of your audience. In addition to taking into consideration their demographics such as age, gender, and socioeconomic status, you should also consider their values, needs, and interests. Taking this extra measure before devising a marketing strategy can go a long way toward helping you better relate to your potential customers throughout all aspects of your campaign.
Understand Users’ Needs
It is not enough to know who your audience is. You should also understand what they desire and need from a company such as yours. If you do not offer a product or service your user can use, no amount of marketing is going to turn your business around. Pay attention to trends within your industry, what your audience is saying on Facebook, and user reviews. Does your audience want more from your product? Do they expect more for their money? Do they even use your product anymore? These are questions to which you should know the answers on a daily basis.
Also, note that what may have worked for you last year may not work for you today. Never stop asking your audience questions and never stop seeking answers to questions you didn’t think to ask.
Your Goals Are Unclear
According to Psychology Today, 80 percent of New Year’s Resolutions fail by February. While most people assume others fail to keep their resolution out of pure laziness, the truth is that most resolutions fail because the goals are either unclear or too overwhelming. The same is true of many marketers’ goals.
Not only should you assign concrete goals to each team member but also, you should assign SMART goals: specific, measurable, attainable, realistic, and timely. When each team member knows exactly what they need to accomplish to help the company attain its overreaching objective, they’re more likely to do what needs to be done. Moreover, team members are more likely to feel confident in their abilities, which boosts productivity. Confusing goals, on the other hand, make team members feel inadequate and incapable of achieving the goals set for them, which can bring down company morale.
You Don’t Pay Attention to Your Competitors
Too many companies, particularly those with strong reputations in their industries, make the crucial error of not paying attention to what their competitors are doing. Don’t make this mistake.
Competitor research should be a huge part of your business’s marketing campaign, as it can pinpoint both what your competitors are doing right and what they’re doing wrong. Monitor your competitors’ websites, promotions, and campaigns, but instead of trying to emulate them, as so many businesses do, identify what they’re not doing and base your campaign off that. Doing so will set you apart as a unique (and therefore better) choice, as your distinctive strategy tells potential customers you offer more than what is the industry standard.
Marketing is an essential business operation for all companies regardless of size, which is why your budget should account for its research, creation, and maintenance. However, if your strategy is lackluster, you risk throwing away a good chunk of change on ineffective methods. Don’t be another business that fails because of a lack of an effective marketing strategy. Consider the points above and apply them to your company’s marketing campaign.
