So many companies seem to waste money and time performing acts of marketing madness. In this article I will share what I think are the top 5 acts of marketing madness.
Note: This article isn’t for you if
- You are lucky enough to have a huge limitless marketing budget
- You have so much time for sales and marketing activities you are often left wondering how to fill your day
1. Not communicating regularly with existing customers
If you have existing customers (businesses / people) who have previously spent money with you, then there is an opportunity that they could buy more from you, or purchase additional products / services (maintenance / repair / warranties / add ons ).
Perhaps they know of other companies who would benefit from using you, or would be happy to provide a testimonial. Having a credible and professional way of keeping in contact whilst providing useful / valuable information has the potential of ensuring your existing customers are aware of you or prompt them to consider a future purchase.
Note: Regular communication shouldn’t be misconstrued with the sending of spam content.
2. Invest in trade shows / exhibitions without any strategy
Trade shows are a fantastic way of getting in front of a large percentage of your target audience in a very short space of time. This often means that exhibiting at a good trade show can cost many thousands of ££££’s (once you have taken into account the stand cost. people, hotels and beer)
So why do many businesses book to attend a trade show without
- Setting objectives as to what they want to achieve as a result of exhibiting
- Communicating that they will be attending (even just putting the exhibition details on the signature of an e mail
- Failing to invite existing / potential customers to see them at the show
- Having a clear sales and marketing process in place to efficiently deal with all the enquiries they make
- Identifying what it is they offer that will encourage someone to stop at their stand (i.e. something other than the box of chocolates / free pen or squidgy stress ball
- Read more about getting more from your next trade show / exhibition – click here you might need more than stress balls and sweets as a reason for people to stop!
3. Use a single communication to try and gain a new customer
Research from numerous sources has identified it typically takes 8 interactions to start a business relationship. So if you are targeting cold prospects sending them a single piece of direct mail, or a one off e mail telling them how good you are it is unlikely (in most cases ) to directly lead to new business.
You need to have multiple and possibly different communication types in order to open up and develop a relationship, for example
- Telephone call to get correct contact details and permission to send information
- Introductory non sales E mail
- Supportive direct mail piece
- Follow up e mail with additional information and opportunity to get more high value content
- The high value content (perhaps a technical report, research findings or observations on issues facing the sector
- Telephone call with a clear offer
Now at any point you might be lucky and the prospect says “I want to buy” or “Please make an appointment for us to chat” but what process have you got in place for those prospects who don’t respond to a single contact?
4. Constantly developing new products or services without capitalising on the good ideas
When we meet manufacturing companies for the first time and ask them what they do or what their capabilities are. This highlights
- A: Activities they are currently doing which is profitable
- B: Activities that they are doing that is actually a pain but they continue to do it
- C: Stuff that they have been trying to do but don’t seem to have the time to fully develop
- D: Stuff that solves a major market / sector issue or problem for which a solution would be highly valued. Unfortunately because they are busy doing B they have not and will never exploit this opportunity
One of the reasons for this is that they haven’t got a clear business process in place for looking at customers / products to identify where they should focus resources.
5. I need a new website and I want to be number 1 in Google
Searching on the web for a product or service is an everyday occurrence, but many businesses still don’t seem to fully understand how to approach building a new website in order to generate enquiries.
3 simple tips to consider with website search ranking
- If you could rank #1 for a search term what would the visitor do when they landed on the page
- If you ranked number 1 how many visitors would you actually get. There might only be 10 people per month searching for this term. Of those visitors what percentage might be likely to purchase.
- Could you develop a process whereby you send people to the site (to specific pages on the site that you want) so that you don’t have to worry about SEO (as much)
- Click here to find out if your website is failing
Over the following weeks we are publishing articles on
- The benefits of surveying your customers and various approaches / techniques
- Creating a cunning sales and marketing action plan for the next 12 months
- Government Funding available to businesses
- Improving performance through Injecting New blood
- How to get more sales enquires from your website