Sins of Marketing part 2
Last issue I focussed on the first three deadly sins of marketing so this month let’s look at the final four sins to avoid so that your marketing can be direct, professional and successful.
4. “We don’t need Marketing.”
Many firms devote too few resources to marketing and some none at all. Others don’t use their resources profitably. In order to determine your firm’s need for marketing, measure the time staff spend on non-core activities devoted to client development.
5. “We placed an ad in a leading newspaper and didn’t get enough calls to pay for the ad.”
Marketing is an investment. While results from some programs are immediate, clients sometimes can take months, or longer, to win. One famous international advertising agency head once said there was 18 months between the first phone call and the first cheque. Organisations with a long-term commitment to building their business are those that ultimately reap the rewards.
There’s more to marketing than just spending money on advertising. Enlisting the expertise of a professional marketing consultant, whose brief includes the development of a communications strategy, is undoubtedly a more cost-effective way, in both time and money, to get it right.
6. “It costs too much.”
There are inexpensive marketing communications options available. For example, the distribution of a media release promoting a firm’s recent Award win, or providing an authoritative view of topical industry issues can have much greater impact than an advertisement. In fact, industry studies show that editorial, in the right place, is worth at least three times the equivalent cost of an ad in the same publication.
*7.” We don’t understand it, so we’re better off sticking to what we know.” *
In today’s competitive climate, most businesses are in the marketing business, whether they understand it or not. Focus on your core business and enlist the help of a marketing professional that can contribute objectivity and specialist skills as and when you need them.
Make your marketing work by taking a good look at what you do and if any of the seven sins apply to you. See how you can improve your marketing communications to current and potential customers. You’ll soon find the results in your bottom line.
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