Businesses come and go like the seasons. And the sad truth is that even those entrepreneurs with genuinely world-changing ideas and products often fail to survive past a year or eighteen months. There are plenty of reasons why, but we bet that all of these failures share something in common – a failure in marketing.
Good marketing can give anyone a shot at making a success of their business. Sure, a poor-quality product will always get found out eventually, but at least it’s had a moment in the spotlight, and earned some money to boot. And, of course, you can always plow in those profits to make adjustments and improvements to your product or service. But a fantastic product with useless marketing is destined to fail in the vast majority of cases. We’re going to take a look at some of the primary reasons why in this post – so read on to find out more.
Lack of understanding
The first issue is a huge one – a complete lack of understanding of the target market. Ultimately, if you don’t know the pain points of your ideal customer, you have no chance of targeting them correctly. You can’t sell to everyone, and it’s one of the biggest – and most fatal – mistakes first-time business owners make. Instead, laser focus your message and get it out there in the words your audience understands. Do this, and you will find your message is much better received than it would be if you took the scattergun approach.
As you will hear from experienced Internet marketing experts such as Danny DeMichele, without a strategy, your marketing will crumble at the first hurdle. You have to define your goals and objectives as to what you are trying to accomplish and be as specific as possible. ‘Growing your business’ or ‘fast scaling’ is not a strategy – you need to be focused on delivering the results that make this happen.
The wrong platform
You can pour millions into your marketing, but if you are targeting the wrong platform, it will all go to waste. Today, there is a lot of marketing options to choose from, of course. There are traditional tactics like TV and radio ads and direct mail, and the modern marketing mix includes social media, video and things like podcasts. But there is no point making a noise where your customers don’t hang out – and the medium you choose to get your message out there is critical.
‘All about you.’
When you look at the vast majority of websites out there these days, most of them seem to spend all their time talking about themselves. But if you go down this route, it’s important to understand that no one really cares. What your customers want is to hear about how you will solve their problems, heal their pain, and improve their lives. And failure to address these issues on your homepage, services section, and blog will result in failure.
If you are struggling with marketing your business, these reasons above could be why. Have a thin about what you can do to change them, and you should see better results.