The past few months have turned the world of business as we know it upside down, forcing those who followed more traditional concepts to consider new ways to evolve and survive.
Business owners have come up with some of the most creative ways to generate business. From using apps like Zoom and WhatsApp to follow up on leads to social media live streams to keep their audience engaged throughout the lockdown.
Even fast-food joints & cafes, something we consider as an outdoor activity came up with new DIY coffee/donut kits for you to experience your favourite treat from the comfort of your own home.
This brings us to our topic today. What about you? Are you focusing on the right areas to market your product and services? Do you still think your marketing sucks? Even after putting in all the efforts and financial resources that you thought would be enough?
Although the above-mentioned examples may be the work of a brilliant team or a very enthusiastic employee. Irrespective of what you do, there are a few common denominators among all of these examples that lead to a successful campaign and most importantly provide a good ROI.
So, let’s talk about the most common question we hear “why is my marketing not working?”
The answer to this isn’t as simple as you would think.
Given the burst of competition and different platforms, a number of reasons can affect your marketing strategy and numbers. Today, you need a holistic approach to marketing with multiple touchpoints to reach out to your target audience. The fundamental of marketing need to be in place before you can truly evaluate if the marketing campaign is working or not.Take a look below for some common factors you should consider for the poor response:
1.What is your buyer persona?
Identifying your buyer persona is a big part of marketing planning which unfortunately many small and medium businesses fall short on. This is the first place to look at while evaluating your marketing campaign. You should identify your buyer persona with granular detail and only then go after that target market. This will not only save you time and cost but also significantly enhance your conversion ratio. Identifying the market persona is a discovery process that includes understanding the market, conducting research, and evaluating who will benefit the most by your product/service. Define the person by demographic information such as location, company size/annual income, title, interests and more. Once you have defined the persona then identify where and how are you able to connect with the target persona. For instance, which social media is that demograph more likely to use, what events they attend, which online resources they trust for industry news and more. These intel should dictate your marketing planning, activities, and budget.
2. Your company has a social media account and a website. But that’s it!
Most brands today start off with a website and a social media handle. That’s not enough. Irrespective of your company size creating a buzz is still a very “marketing friendly” thing to do in order to create business opportunities. Yes, an aesthetically pleasing social layout and witty tweets can get you some traction. But focusing on adding value to what you share online, keeping it genuine and replicating the same offline at events or expos or even a night market helps get those leads, create actual sales and customers.
3. Single platform presence.
Consider this, your product best suits the needs of teenagers today. But your brand has a profile on Facebook and nowhere else. While single platforms are a good way to start off it has to be based on the demographics. This means, where your target audience spends the most amount of time is where you should be as well! In this case, Instagram, Snapchat, and TikTok.
4. You haven’t created a Holistic Marketing approach.
A holistic marketing approach is done through various channels. This includes
- e-mail marketing
- lead generation strategies,
- social media platforms, and
- reaching out to contacts.
This allows you to cover more ground. Thereby, giving you a larger lead generation pool.
5. You haven’t implemented online “and” offline strategies.
While online marketing may seem easy and tempting (after all it does allow you the comfort and data all through a few clicks), the traditional marketing approach still holds its value. Applying both online and offline strategies for a business is very important. Notice any large company you see on a day to day basis. While they have a good online presence, they still come up with offers and value services that are aimed at winning their customers over.
Create marketing strategies on two primary goals –
- To get sales and leads, and
- Develop brand value in the minds of customers
6. Motivators and Demotivators
What factors influence decision-making for your target market? You should observe and identify key motivators and demotivators. Don’t be shocked, as harsh as the term sounds it’s not. Those who offer high prices for a quick service for example the express shipping for a faster delivery are motivators. They could also be the ones who run on a scarcity tactic that leads customers to think they will miss out on an opportunity (example a sale that says “limited stocks”). Whereas, a demotivator persona offers lower prices and a longer wait period on the service.
The issue with your marketing could simply be that you are targeting customers who want the service quickly or the opposite, who are willing to pay and wait for a better service.
7. You expect an immediate ROI
What’s important to remember even before we get on to the technical aspect of what works and doesn’t work for your business, it is setting the right expectations. Marketing strategies are a long-term aspect of every business operation. When the company starts off in its cycle you can’t expect it to be a success overnight. But through persistent efforts, dynamic management, and the right strategies these investments pay off. The same applies for marketing, invest in a long-term plan for your business. This can help in more ways than you could imagine. From understanding customer preference to nurturing leads that convert into customers all of this is a part of the process that comes with time.
8. Lastly, your brand doesn’t have a persona
Is your brand telling your story? Every business is an entity. In the eyes or law and more so in the eyes of the customers. When they interact with your employees when they buy a product or service the brand voice and vision should have an active role in it. Your website should be at the front of this as the door to your business. It’s design and content should align with the offers and message you wish to convey. Social media presence should also be aligned with it so should all your other digital marketing campaigns.
When you have something good to offer it’s equally important to let your audience know who you are.
Show them
- your brand can be trusted (brand authenticity),
- it’s well recognized (brand voice), and
- the brand image they can associate the product with.
All of this can be brought together by investing in a good marketing strategy that defines and analyses the market, it’s trends and your current strategy. Based on which experts will then suggest what method or approach will work best!
