Wouldn’t we all like to have that magic formula for taking our marketing to the next level? I think most people really don’t understand what marketing is all about. The common theory is “build it and they will come”. Many companies just don’t get it. They don’t understand the value of really good marketing tactics. Marketing is really about crafting your message and developing your products with the right features for the right audience. It’s also about having clearly defined marketing goals. Here are a few mistakes many companies make today that cause them to fail.
- Not clearly defining your target audience. Can you clearly define your ideal customer? Do you have a customer profile? And I mean a “real” customer profile. Not just what industry or title they have. Have you segmented your market using demographic parameters? Do you even have the basic information in your customer database such as name, title, company name, address, phone number, e-mail address, and Website URL? If not, start there by completing your data base with general information. Then add on additional information such as trade shows they attend, journals they read, buying habits, etc.
- Focusing on features rather than benefits of your product. How many of you can recite an abundance of features about your products or services, but don’t have a clue how they benefit your targeted customer? Once you understand what the benefits of your products are and how they relate to your customers, you will be able to craft a message to communicate those benefits. But, I contend that you should go one step further and add the key advantages to the benefits. Your competitors may offer the same benefits. You will stand out if you also communicate the advantages.
- Executing haphazard marketing tactics. The key words in successful marketing are consistency and regularity. I work with many clients who haphazardly market their products. They’ll send out an e-newsletter or a direct mailer, for example, once in a blue moon and wonder why their marketing program is not working. Or, they’ll place one advertisement in one journal one time and wonder why they are not getting a flood of leads. Or, they send out one press release and wonder why they aren’t getting a deluge of editors calling them to do feature articles on their company. They key to good marketing is to have a plan and to stick with it. Send out a monthly communiqué to your customers; otherwise, they may not remember you when it’s time to buy.
So, you need to truly understand your target market, create marketing tools that fit your audience’s needs and distribute those tools in a timely and regular basis.
