We’ve all done it. We start our business, and we begin throwing marketing tactics up against a wall to see what sticks. We put out a Facebook post here, start a LinkedIn group there, give Google AdWords an attempt or two, create some blog posts, hire an SEO firm to get us that coveted “top of Google” ranking; you get the idea.
And then you stop at some point and realize “I don’t know if any of this is actually working!” Growth-focused companies reach a tipping point in business where their approach to marketing must go from “trying anything” to having a measurable, strategic approach.
Here are five signs that you are approaching marketing ad-hoc:
- You don’t know the ROI of your marketing
- In many cases, small businesses have multiple outsourced firms handling various aspects of marketing with no cohesive strategy or system of measurement looking at the big picture.
- Often, outsourced marketing providers don’t look at your overall business goals and plan your marketing objectives from there.
- Or, if the business owner is managing and executing their own marketing efforts, the measurement of success of these efforts does not exist.
Results: Marketing expenditures are high, return is low with lots of time being wasted trying ‘new things.’
- You work with “everyone”
- Not identifying your target market results in marketing directed at the general public. I like to call this “the spray and pray” method of marketing.
- Unless you have a marketing budget the size of Starbucks’, you will never be able to hit “everyone” with your marketing message.
Results: Marketing results are nearly impossible to measure, and tons of time and money are wasted.
- You’re still charging hourly for your services
- The default of most business owners who provide services is to charge hourly, or to “bundle hours.” This leaves us constantly negotiating our prices and/or selling ourselves way short. (If you haven’t read “Go for No,” I highly recommend it.)
Results: Revenue generating opportunities are missed, and time is wasted.
- Your company’s offerings are confusing
- If you or your team created the packaging and pricing of your offerings before identifying your ideal client, chances are, they are positioned to the general public and don’t often compel your ideal clients to purchase.
- Chances are, you are still doing ‘anything for anyone or being all things to all people.’ The laundry list of services you give your potential clients is confusing and often leads to “analysis paralysis.”
Results: Your calendar is often filled with “less than ideal” clients. Your revenue is far less than it could be.
- Consistency? What’s that?
- When you have time, you occasionally hold a webinar, or write a blog post, or send out a newsletter.
- Sporadic communication with your tribe leads to high spikes of ups and downs in business. Frequency and relevancy is paramount to your marketing success. (This is the first time you mention tribe, but do your readers know what you mean?)
Result: Loss of revenue, wasted time and resources.
If you find yourself making one of these 5 mistakes, stop your marketing entirely and find a marketing strategist who can help you build a plan that correlates with your business goals. Stay tuned for a follow up post containing the “Do’s” of marketing.