Have you ever wondered why the marketing you have implemented in your business has not worked and is not generating the leads you expected? Alternatively, are you not getting the return on a marketing program your sales group talked you into to generate leads? If either or both are the case, you may have decided that marketing does not work for you. Hopefully, reading this will help you understand what to do to make marketing work for you.
The problem with marketing is that it needs to go hand in hand with your sales strategy. Marketing also has to be reflective of your industry, your sector, your specific market, and your geography. If not properly assessed, then there is a high probability that you will never get a return if you continue to try marketing mediums based on the thought that the same marketing works for any business. All businesses have a website, but the type of website and the features that it should possess can be quite different depending on the type of business.
Problem 1 - Not Marketing to the Right Audience
Think about business in general and customers. A manufacturing business, a retail store, a financial services firm, a hi-technology company, and a restaurant all have very different customers and products. Their customers make buying decisions in many different ways. If you know and believe that to be true, why would you expect that you can market to them similarly?
Take a website, for example. A website of a retail store or restaurant is a business-to-consumer sale. The website needs to be aesthetic and draw in customers. There are most likely specials or what is on sale on the first page to attract their interest. There may also be contests or the ability for the customer to rate their products online. The website for an industrial manufacturing website and the type of customer is different. If the site contains flashing or rotating pictures for that customer, the chances of losing them are high as the customer's needs are very different. This customer is trying to determine if your products will work in their business. Their interest is more in the content, case studies of the product, and technical specifications. It still needs to be pleasing to the eye, but it has a different look and feel than the consumer looking for an excellent local restaurant.
The same is true about other marketing pieces and programs that you implement. If your marketing does not address the customer's needs, the money you spend can be wasted.
Problem 2 - Sales Follow-up
You may be doing the proper marketing for your company, but your sales force may not be following up on the leads you have received. If you run a campaign or have leads from events or the web that are not followed up promptly, you may lose the money you spent acquiring the lead. The reasons for this not happening could vary. It could be as easy as miscommunicating, inexperience or lack of training of the rep, or you could even have the wrong type of sales rep for selling your products in your industry. You must have the proper marketing and that your sales group is prepared to act on the leads and turn them into sales.
Problem 3 - Lack of a Marketing or Sales Strategy
In many cases, businesses do not have a marketing & sales strategy in place. It would be best if you had a sales strategy to drive your marketing strategy as they go hand in hand. Forecasts and an understanding of how you will sell your product are required. Once that is complete, you then understand what marketing you need to generate the leads for that forecast, what marketing budget you need to pay for the marketing, and what tracking you need once you get the leads. From there, sales need to have processes and staffing in place to take the lead from start to finish.
A marketing and sales assessment will take a look at your current marketing and sales activities, processes, and marketing & sales strategy to understand what has worked and what has not in the past and why. We look at your specific business and your industry, sector, market, and geography and make recommendations about what else should be addressed to achieve the growth you are looking for in your business. If you don't have a marketing and sales strategy, we can help you develop one through a marketing & sales strategy engagement or through business coaching.
Before you decide to spend money on new marketing and sales initiatives, it is crucial to understand if they will work for your business. Even if they do, they need to be appropriately implemented based on your customers.