The Perils of Poor Marketing Strategy
- ssullivan15
- Sep 20, 2023
- 2 min read
Have you ever wondered why some marketing tactics fail? Businesses experience this far too often and while it seems puzzling to marketers when it happens, it’s typically the result of misguided marketing strategy. A surefire way to waste marketing dollars and resources is to execute tactics that aren’t directly tied to well thought out strategy. In my experience, there are a few key reasons companies get marketing strategy wrong:
Lack of Clear Objectives – This is probably the most common pitfall. Without clear objectives, your marketing efforts will be aimless and as such, developing your strategies and tactics will be doomed from the start of the planning process. The most important advice I can provide to clients is to build attainable marketing objectives that are directly linked to the broader business goals (e.g., revenue growth, emerging markets, customer retention, etc.).
Misunderstanding Your Target Audience – One size does not fit all. Ignoring how your audience consumes information, their wants/needs, their general interests and demographics is a recipe for disaster. Deep understanding of your audience will greatly increase your ability to tailor strategies that are meaningful and effective.
Inconsistent Branding – Your brand's identity should be consistent across all platforms. I am not simply referring to logos, colors or visual components of your brand framework. I am talking about your brand promise, story, personality, values, etc. If these elements are inconsistent, you’re fighting an uphill battle in executing your strategic plan. (Stay tuned for an upcoming “soapbox” post that will dig deeper into branding!)
Lack of Flexibility – Today, marketers have access to all kinds of real-time data to evaluate the efficacy of their programs, campaigns, etc. Don’t disregard it! Your strategic plan needs to be flexible enough to pivot and adapt if performance isn’t meeting expectations.
Overlooking Competition – Failing to stay current on your competitors in terms of their offerings and their messaging will surely leave strategic marketing opportunities on the table. Staying informed, knowing your unique selling points and understanding your competitive gaps will better equip you to build winning strategies and tactics.
This is certainly not an all-inclusive list, but I’d bet that if you’re struggling with your marketing strategy, one or more of these culprits are at play. Addressing them can be daunting, but it doesn’t have to be; contact me and I’d be happy to set up some time to discuss how we can ensure your marketing strategy is built for success!
Comments