How Poor Marketing Can Hurt Your Business
Every business needs a marketing strategy. It allows you to engage with your audience, create a buzz about your products and services, drive traffic, generate sales and put money on your bottom line. In this digital era, there are now more easily accessible marketing channels than ever before. But all that choice means marketing can be a complicated affair, especially for small businesses who don’t have the budget to employ in-house expertise. Shockingly, a recent study found 42% of small business owners are completely unaware of how to market their business. All across the UK, small businesses are losing out on huge opportunities and untold amounts of revenue. Not only is poor marketing stopping them growing, but more likely than not, it is causing some very unwelcome consequences. Here’s how poor marketing can hurt your business.
Poor Marketing Means Poor Branding
Branding is vital to businesses, and that’s why the most successful companies in the world spend millions of pounds on it. It is no less important to small businesses. Your brand represents your relationship with your customers. It’s how you make them feel and why they chose to buy your product or service – or not! Managing your brand is one of the most important part of your marketing efforts, from advertising and product design to your communication and customer service. For instance, if your website (if you don’t have one, get one) is full of irrelevant content or has typos and grammatical errors, your customers may think you’re sloppy, careless and unprofessional. If you build a good brand and deliver on your promises, your business will grow. Get it wrong, and your customers will quickly form a negative view and look elsewhere.
Poor Marketing Is Directionless
The best marketing strategies are built to match the needs of your customers, working in tandem with your business goals and the resources you have at your disposal. If you don’t know who your audience are, then you need to research who they are and focus on them. A non-targeted marketing strategy will be completely futile if you don’t get in front of the eyes you need to hit. You should formulate your marketing efforts to be part of one all-encompassing strategy. Each element is a cog in a bigger machine, all working together. If your marketing consists of a series of random parts, you are going to struggle to achieve your business goals. Understand your industry, your audience and your competition. Then decide on your messaging, set your budget, pick your channels and proceed. Make sure all messaging is consistent.
Poor Marketing Is Expensive
If your marketing lacks direction, then what you are doing is going to be expensive. This is the case even if the channel appears to be cheap at first glance. It’s all about return on investment – if your efforts are disjointed, or have no research or audience knowledge behind them, you are spending money blindly. By using the wrong marketing mediums, or targeting the wrong people, you’re eating up budgets that could be better used elsewhere. Make the right decisions with your advertising, you’ll engage your market, generate traffic, get an edge on your competitor set and grow your business. Get it wrong and you’re not just wasting money. At best, you’re ignored. At worst, you’re alienating your customer base.
Consumers Hate Poor Marketing
If your audience don’t like your marketing, then many of them will simply never use you. Poorly targeted, irrelevant advertising does nothing but annoy. If you’re getting on the nerves of potential customers, you have little hope of selling them anything. Online advertising is a case in point. Used correctly, it is a brilliantly cost-effective way of connecting with your audience and converting them into customers. But without a targeted strategy, you can hit the wrong people who may find your advert irrelevant and aggravating. Recent research revealed around 30% of internet users will steer clear or websites where online ads interfere with the content they want to read. It’s a cliché but it is true: people don’t hate ads, they just hate the wrong ads!
Marketing is an increasingly complex affair. If you show your brand, products and services in the best light to the right people at the right time, then you’re going to grow. But, there are many plates to spin, and a lot of things can go wrong. Make no mistake, poor marketing can hurt your business. The effects can be disastrous, and often it is difficult to know where you are going wrong. Small business owners are always short on time and are often short on expertise when it comes to marketing their operation effectively. Muve Media & Marketing are here to help you plan and execute the strategy you need to grow. Contact us today to arrange a free consultation call.