Why Marketing Fails… and What You Can Do About It.
Over the last ten years I have talked to hundreds of CEOs of small and medium-sized businesses in the Business-to-Business (B2B) sector about what works and what doesnâ€™t in building a repeatable lead stream for their business and a marketing engine that delivers measurable business results. For a long time I kept hearing about:
- Tactics that failed
- Marketing managers that failed
- Websites that failed
So I started to keep track of what CEOs were telling me and devised a list of the attributes of marketing programs that succeed.
Why is marketing of vital importance to todayâ€™s small business owner?
Look around you. No matter the size of your business, big or small, new or old, competition is fierce and instantaneous. Companies that fail to answer the answer the question, â€œwhy should I buy from you?” in a clear and compelling way, find their market share getting smaller and smaller and new business harder to come by.
The ground has shifted significantly for companies trying to grow and compete. As marketing tactics have become more complex, the average CEO has gotten more confused and frustrated. The trap is thinking this is because of the complexity of online marketing and new online tools. Donâ€™t fall into this trap! While complexity is due in part to clutter, confusion and an overabundance of choice, which the internet has produced, the real reason marketing fails is because CEOs and marketing professionals donâ€™t take the time to understand the foundation of marketing success.
The first step to creating marketing programs that succeed, is a compelling and clearly stated value proposition. A value proposition is your deal closer. It explains to people why they should buy from you. The clearer you make the statement, the easier it is for someone to make the decision. If you would like to get a jump start on figuring this out for your business, we invite you to download Creating a compelling value proposition for your business.Â In this guide, we review how to look at your product or service from the perspective of your customer and how to identify value statements for the sales and marketing dialogue that is the foundation for marketing success.
Maybe your story sounds like this?
Back in 1999, I was working for a software company that had raised a lot of money from venture capitalists to build out their business plan and attempt to achieve spectacular revenue results that would please shareholders and create an exit strategy for the founders. As vice president of marketing, I had a budget, a working product and paying customers to work with, but the marketing plan we executed in support of the business plan was a bomb.
What went wrong?
Aside from the perfect storm of bad market conditions, there were some fundamentals missing in the business:
- Lack of value proposition â€“ we didnâ€™t document why our customers were buying
- Lack of focus â€“ we were trying to be all things to all people to make a sale
- Lack of brand â€“ customers didnâ€™t see themselves reflected in the way we presented ourselves in the market
- Lack of consistency â€“ weâ€™d try something once and then drop it
- Lack of delivery of repeatable value â€“ every customer project was complex and customized, so it was tough to scale
As a result, our marketing program did not deliver measurable business results. In 2002, I walked away from the experience determined to do something about. I studied the problem, talked to lots of CEOâ€™s and began testing. Marketing CoPilot and our proven methodology is the fruits of that labour and we offer the formula and guidance to help business owners build repeatable lead streams for their business.