Marketing strategies do not provide satisfactory results in most of the cases for small as well as large businesses. Although there are a large number of reasons for missed expectations, we will discuss some of the most basic mistakes. These mistakes can be easily avoided by paying a little attention. Following are some of the common reasons why marketing strategies fail.
Failure to please the right people:
In many cases, the marketing strategy is designed to please the CEOs, managers, and other supervisors rather than the customers. It needs to be understood that the managers and CEOs do not represent the target audience. Such marketing strategies fail to focus on what the customers and prospects actually want as a result they do not create sufficient response.
Overreaching and overexpansion:
A common reason why marketing strategies fail is that the company tries to be “everything to everyone”. Customers have subtle differences in their preferences. Good marketing strategies incorporate these differences in the advertisements, promotions and marketing messages. More efficient and targeted marketing plans can be executed by appealing to a specific target audience. “One size fits all” approach is more likely to fail than a niche marketing approach.
Out of sight, out of mind:
Your marketing plan is likely to fail if you file it away. Your marketing strategy should be visible to you and your team all the time. This can be done in a number ways. For example by:
- Making action sheets and making them visible to your marketing team and colleagues
- Using a bulletin board for posting aims, goals, timelines and to-do-lists
- Sharing information with other related departments
Ill-defined and vague strategies:
Ill-defined and vague strategies are most likely to fail because the marketing plans based on these strategies will not be actionable. The goals should be specific, measurable, achievable, and time-bound. If you set goals such as becoming the “most desirable” or the “best in class”, it will be difficult to measure them and therefore it will be difficult to determine whether these goals have been achieved or not.
Short-term approach to marketing:
The marketing strategies are likely to fail if their focus is short-term. Lifetime marketing strategies should be designed to attain lifetime loyalty of customers. Sales team, customer services personnel, administration and operations departments, and office support staff should accept the marketing goals and take ownership for the success and failure.
Budget oriented marketing strategies are driven by budgets rather than the marketing goals. Marketing managers who concentrate their efforts on saving costs often fail to achieve the best results from the marketing strategies. They make poor media choices and waste the resources. The budgets should be carefully allocated to customer-oriented marketing plans. Only then you will be able to use your resources prudently and get the most favorable results. Outsourcing marketing services to professional marketing agencies can help you save costs without losing focus on customers.