7 Sins of Marketing

As the saying goes: “Half my advertising is wasted, the problem is which half”. The question really is not only which half is wasted, but how to make sure the other half breaks through the clutter to give a good return on your investment.

It’s easy to put a toe in the water and test a one-off campaign. However, in most cases these tests fail, not because the graphics aren’t good enough or the copy was wrong – although these can be important factors long term – but because marketing is about establishing a relationship and generally you can’t do that in one hit. Long-term partnerships take a while to nurture; some even survive despite our poor attempt at an opening line.

Experts agree that marketing should be integrated with all other business processes. As important as governance and practice management, marketing, surprisingly, is still often seen as an add-on or an afterthought.
Business owners need to overcome the fallacy that marketing is selling, and the belief that this taints the image of their practice.

Marketing is the art of identifying and satisfying the needs of clients with services developed for that purpose. Successful marketing is a combination of a number of strategies including pro-active attention to corporate branding, advertising, public relations, client relationship management (CRM), and below-the-line promotional activities (including direct mail, online communications and sponsorship).

The seven deadlies that keep businesses from maximising their marketing opportunities are:

1. “We’re good at what we do, that speaks for itself.”
This is the wrong attitude. Clients assume a certain level of technical expertise from any firm. However, in an increasingly competitive marketplace, it’s the service quality that counts and firms should consider ways to differentiate their business in a crowded market. Complacency can lose you clients overnight.
Do you offer specialist services, what’s unique about your delivery, what do you do that your competitors don’t, have you won awards? etc

2. “Time spent on marketing is time we could be billing.”
Many firms still judge time spent on marketing against billable hours. However, firms should compare the value of doing billable work for unprofitable clients against the alternative of spending non-billable time on marketing to grow the business of profitable clients to achieve greater financial rewards.

3.“We’re too small.”
Marketing and PR are not the privilege of large firms. For example, if a law firm wants to develop its reputation as a specialist servicing the medical profession, then maintaining a high profile within that industry is important no matter what its size. Appearing regularly in a specialist medical publication, is just as valuable for the small firm as is appearing in the Australian Financial Review for the large corporate firm.

In true marketing spirit I’m going to leave you waiting for the next part of this article, building anticipation, interest etc. If you can’t wait until next time email me at: moyra@ammarketing.com.au.

Accounting

Peter Fowler

Peter Fowler Collins Hume

Collins Hume has over 12 years experience in finance and is a specialist in driving business forward while working smarter not harder. Awarded CPA Australia’s Top 40 Young Business Leaders 2012 he helps make things happen.

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Here are Peter Fowler's Expert articles:

• Some Business Owners Get it. How Can You?Mar 22, 2013

Banking and Finance

Leo Senese

Leo Senese RBS morgans

Leo Senese, RBS Morgans, with 17 years of experience in the financial markets with Westpac, Goldman Sachs JB and RBS Morgans he is a specialist in income investments. His primary focus is to generate tax effective enhanced income solutions.

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Here are Leo Senese's Expert articles:

• Get Global Commodity Exposure in the Australian Share MarketAug 30, 2011
• The Changing Face of Fixed InterestNov 30, 2011
• Are you prepared for Retirement?Mar 13, 2012
• Don't Pay More Tax Than You Have ToJun 14, 2012
• Working Your Cash HarderSep 03, 2012
• Getting the Best Yield for Your InvestmentNov 30, 2012
• Cash Rate Falls: Yield Remains King!Mar 22, 2013

Business Efficiency

Clayton Oates

Clayton Oates QA Business

Clayton Oates, QA Business, our Channel 7 business efficiency guru cuts through the red tape and helps you streamline your business to make things happen.

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Here are Clayton Oates's Expert articles:

• Business Costs - Are They Adding Value?Aug 12, 2010
• Moments of TruthNov 16, 2010
• Is your Accountant Necessary?May 09, 2011
• Where Has Our “Disposable Time” Gone?Jun 07, 2011
• Using the Internet to Buy LocallyAug 30, 2011
• Is your head in the Cloud?Nov 30, 2011
• Do Apps – Add Up?Mar 13, 2012
• Future Shock – It’s Here AgainJun 14, 2012
• The Cloud - What’s Old is New AgainSep 03, 2012
• How Disruptive is your Business?Nov 30, 2012
• Clouds Have Different ShapesMar 22, 2013

Employment & Training

Meg Nichols

Meg Nichols EnviTE Inc

General Manager EnviTE Inc, providing advice on the Northern Rivers employment market, recruitment, industry trends and best practice.

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• Employing People with Disability Makes Good Business SenseDec 04, 2012
• Employing Youth Expands Your Business OpportunitiesMar 22, 2013

Marketing

Moyra Burke-Smith

Moyra Burke-Smith AM Marketing

Moyra Burke-Smith, AM Marketing – with over 20 years of marketing experience for both small and large companies in Europe and Australia she is our expert at making your marketing work for your business. In her spare time she makes a mean mojito.

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Here are Moyra Burke-Smith's Expert articles:

• Make Them HappyAug 12, 2010
• 7 Sins of MarketingNov 17, 2010
• Sins of Marketing part 2May 09, 2011
• Get HelpJun 07, 2011
• Promote Your Company WellAug 30, 2011
• Get Into E-tailNov 30, 2011
• Are You Loyal to Your Customers?Mar 13, 2012
• You Are Your BusinessJun 14, 2012
• Social Media - Making it Work for Your BusinessMar 22, 2013

Renewable Energy

Roly Barrett

Roly Barrett Green Up

Roly Barrett is a Sustainability Assessor & Solar Energy Advisor and Sales Manager of Greenup Australia, a Ballina solar and energy efficiency company. Roly spends a lot of time on roofs across the Northern Rivers assessing solar potential and in restaurants

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• Small Business Tax Break for Solar PowerSep 03, 2012
• How to Avoid an Electric ShockNov 30, 2012
• The Future Looks Bright.. with LEDsMar 22, 2013

Telecommunications

Scott Hales

Scott Hales Barefoot Telecom

Barefoot Telecom has been in the telecommunications industry for 14 years, working in many different roles for a number of providers. He is passionate about providing exceptional customer service and building long standing relationships with his clientele.

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Here are Scott Hales's Expert articles:

• Communicate The Way YOU Want ToMar 22, 2013

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