Whether you're the lone marketing mind of a tech company or a key member of a major marketing department, these common missteps can hinder any business. With varying levels of uncertainty in the world right now, maintaining solid lead development and conversion rates will be the difference in which companies stay in the black. By keeping these factors in mind, many companies can come out of the coronavirus pandemic even stronger.
Here are the common mistakes marketers make:
Cutting marketing spending — An unstable economy that looks like it's made it through the worst is an ideal time to double down on marketing spend. Grabbing more market share is certainly a challenge when consumers are thinking long term about their finances, but there's much to gain when your competitors may be exhibiting caution.
Focusing on only one channel of marketing — Putting all your eggs in one basket is never a good strategy, and in 21st century marketing, it is a given. Omni-channel marketing involves using a variety of digital strategies, direct mail, outbound calling, signage and many other tactics, and it is a must in a modern marketing strategy.
Too many offers — It makes sense that consumers want choices, but too many can bog down a campaign and leave customers disengaged. Focusing on a select group of offerings catering to your customer profiles makes your strategy clearer, and your metrics for success are much easier to track as well.
Poor targeting/not enough segmentation — Modern companies are dealing with big data to find their customers by honing in on their select demographics. If you're using a shotgun approach, there won't be as many hits. Personalized, highly targeted marketing materials are far more effective at engaging a customer.
Not showing enough personality — Both B2C AND B2B are now more responsive to marketing that is authentic, personalized, emotional, and empathetic. When a company speaks directly to YOU, the consumer, there's more engagement, more interest, and more closed deals.
Empty messaging — Marketing can benefit from emotion and empathy, but make sure you mean it! If your marketing is showing empathy to a cause, then the company should embody those values. Don't be a hypocritical marketer or exploit a moment, because the modern internet 'investigators' will find out.
Avoiding accountability — This is often an internal matter, but all teams know there is a combination of individual efforts that result in a successful, or failed, campaign. The KPI's are a shared endeavor, and everyone should be willing and open about their contribution to the ROI for the client. We can't just focus on intangible gains or "brand strength" anymore.
Marketing on an island — The whole company needs communication between the marketing team, outside sales, and CX/UX teams. This can be accomplished with consistent visual imagery, copywriting, and brand attitude. When all departments collaborate on campaigns together, the customer journey is a smoother road.
Not marketing what consumers want — This all comes down to diving into the market research and staying present with trends and behaviors. Market research comes in many forms such as focus groups, pulse surveys, and beta test groups. Sometimes a company needs to know when a product needs to be updated, adapted, or retired.
Neglecting Diversity — As marketers, we have to embrace a wide range of views, not just in our market research, but in how we employ the best team. As consumer demographics are changing, so must the teams putting together thoughtful creative design and strategy.
We learn these things from experience and the wisdom of those that have come before us. If you're disappointed with your marketing performance or you're seeing some of these mistakes in practice, reach out to Milestone Marketing Solutions for all your data-driven marketing needs.