December 1, 2009
One of the most frustrating aspects to business is when you have all the marketing tools your business needs, perhaps even some your business does not need and yet you still see no results. You may even be spending time and effort marketing your business and yet conversion ratios and traffic remain constant or even drop. The reasons why marketing plans fail are numerous however; one of the primary reasons is that it was not the right marketing plan.
Every business is different and that includes businesses that sell the same products and services. Every business has something that is unique, the group of people they are targeting, the area they are working in, the options they have available to them. These different aspects mean that the same marketing plan is not going to work on every business.
When a marketing plan fails, it is important to find out exactly why it failed first. The reason or reasons are is essential. It may be that there is only one aspect of a marketing plan that failed, it may be multiple items or it may be the entire plan.
Research is an essential aspect of marketing and inadequate research is one of the biggest pitfalls that can affect a marketing plan. Research provides a wealth of information that is vital to the success of a marketing plan. Generally, research is done on the target market. If a target market is not known, research is done to determine what market is going to be the most likely to benefit from the product or service provided by your business.
This is the group of individuals you will want to target and in some areas there may be multiple groups. While it may be possible to market to all these groups it is, in most situations better to market to a single group or groups which contain a large percentage of similar traits. This makes it easier to consolidate a marketing plan as well as eliminates a significant amount of research, time and effort.
The second aspect which needs to be researched for a marketing plan to be successful and is also one of the reasons why marketing fails to produce appropriate results involves research competition. Researching competition is not just about researching the prices of a competitor. It includes noting things such as lay out, finding out what marketing techniques the competitor is using and how often these tools are used for example.
Many business owners and beginning internet marketers fail to note anything more than price and perhaps general layout. As a result, they are missing vital information that can save time, money and effort when it comes to setting up their own marketing plans. It is also important to keep in mind that you want your business to be unique from your competition.
Get a good idea of the types of deals, offers, discounts and promotions that your competition uses and offer something different to help your business stand out. Many people simply do what their competition does. In doing so, they often lower their marketability and their marketing plan can ultimately fail in this area.
Having enough research to create your marketing plan is only the first step in solving the problems that often cause marketing plans to fail. The next step is to take the time to pick out the right tools. Having the right tools for the job is essential to ensuring you get the most out of your marketing strategies.
Marketing tools have diversified over the years. Tools are not limited strictly to email and promotional options. Video, social networking, SMS texting, in addition to email and promotional marketing tools are also available. The increase in available options means that there is a greater spectrum to work with. It also means that picking the right tools is more important than ever.
Pick tools that are going to be easy for you to use, require minimal maintenance but provide you with maximum potential results. This will help to prevent your marketing plan from joining the ranks of those that have failed. Knowing the right tools to use can often be a trial and error process. The important thing is to avoid one of the reasons why marketing plans fail. In this case the reason involves putting too much into a single marketing tool.
Action, Action, Action
One of the biggest reasons why marketing plans end up failing is the lack of action. Marketing is an active part of your business, it is not a set and forget aspect of you business. In order to ensure that a marketing plan succeeds you must be actively engaged in working that plan. This means that email marketing messages should be updated and redesigned regularly.
SMS messages should be rewritten after very send. These messages should be short, contain only the minimum necessary information. It is important to remember that SMS marketing is relatively new and involves sending messages to mobile devices that often indicate repeat messages.
Videos should be produced, edited and updated to as high a level as possible. Computers and technology can turn just about any computer into a production studio with the right software. Keep videos interesting, engaging and relevant. The videos should be related to the company, the products or the services offered.
It is important to set up a marketing schedule and find out how much time, generally through trial and error that you need each day, week or month to handle all your marketing tasks and keep everything up to date.
The reasons why a marketing plan might fail are numerous. Some of these reasons include, failing to do the proper research into the market, the competition as well as the tools available. Other reasons can be failing to have enough tools, having too many tools or not using the tools you have effectively. Taking the time to make sure that you have the information you need as well as putting in the effort to ensure your success can go a long way to eliminating these reasons.
Duncan Wierman is an Ex Software company CEO turned Real Estate Investor and Marketer. Discover how to outsmart your competitor, ethically dominate the search engines,and legally siphon off tons of cash in hand buyers from your website! Get a customized FREE report on what is wrong with your website! http://internetmarketingconsultinggroup.com/outsourcing/