- Thinking that marketing equals
advertising.
Marketing is much more than just advertising.
I like to view marketing as an umbrella with many spokes. Some
of these include research, product development, pricing, distribution,
targeting, selling and, oh yes, advertising.
If you don’t understand all of these
elements and take the time to develop good strategies around
each, your marketing efforts and advertising dollars are unlikely
to be spent as effectively as possible.
Make sure that your marketing plan begins
by carefully considering all of the spokes on the umbrella before
finalizing your promotional plan.
- Failure to identify your target
market.
Too many businesses think there is no
need to worry about targeting because "everybody buys our product."
I have yet to meet an organization with
enough resources to reach everybody. Targeting lets you concentrate
on your best prospects and customers instead of trying to be
all things to all people.
Once you define your target market,
you can refine your product or service to match the specific
needs of potential customers. You can establish appropriate
pricing and prepare the most convincing advertising messages.
And you bring greater focus to your business.
- Not clearly positioning your product/service
Positioning is how consumers define your
product or service on important attributes, such as quality,
speed, or price. It is literally the place your product or service
occupies in their minds relative to the competition.
Positioning is the single largest influence
on the buying decision. It serves as a kind of shorthand, shaping
the consumer's final choice.
Effective positioning starts by determining
what target customers are looking for and offering them compelling
reasons to buy. It's critical to differentiate from competitors.
For example, some brands of toothpaste
offer cavity prevention, while others promise whiter teeth or
fresh breath.
Your customers don't care about your
latest technical breakthrough, product feature, or service option.
They care about what's in it for them. So think about what you
want to communicate and then translate it into benefits your
customers value.
- Not integrating your communications.
Too many companies treat communication
elements as separate entities, resulting in a lack of consistency.
Your logo, business cards, letterhead,
brochures, ads, and Web site all need to be designed with a
consistent look and feel.
Marketing is a process. You need to design
an integrated campaign to communicate effectively. Consumers
are bombarded with advertising messages, making it increasingly
difficult for you to break through and reach them.
By integrating your communications and
having a consistent message, you reinforce the message across
your campaign.
- Writing or designing your own
marketing communications.
Unless you are a graphic designer, copywriter
and marketing consultant, you should get outside help to create
your promotional materials.
Companies often think they are saving
money by taking a "do-it-yourself" approach. Unfortunately,
I've seen far too many examples of confusing messages that missed
the mark and graphics elements that simply didn’t work. The
net result in most of these cases is poorly designed communications
which end up creating an overall image that reflects badly on
the company.
Marketing should be viewed as an investment,
not an expense. That means hiring the right professionals to
get the job done. Don't cut corners in this critical area.
- Not being patient.
A common mistake is expecting marketing
to work faster than it can. Good marketing communications don't
get results overnight. You need to have realistic expectations,
not expect miracles.
Set objectives and timelines for your
campaign. And measure the results! Treat every dollar spent
on marketing as an investment, determining what worked, what
didn't, and how to change future campaigns, if at all.
Don't abandon your marketing campaign
before it has a chance to take effect. While you may be tired
of your current campaign, your prospects could just be starting
to connect with your message.
Instead of changing the message or the
graphics, spend your money repeating the message again and again.
Commitment is the key to success.
- Not having a written plan.
Most of us wouldn't dream of setting
out on a major trip without a plan. Yet many organizations approach
marketing with only vague notions of their destination.
Written plans are imperative. Ideas that
exist only in your head are not plans. Written plans provide
a road map to help you and your organization reach the goals
and objectives set.
Try to develop a year's worth of marketing
activities in your plan. These activities don't have to be set
in concrete. But you'll feel more organized and less stressed
with a plan. And you'll bring the focus and commitment to your
marketing efforts needed to provide a return on your investment.
