Is Your Marketing Strategy Off the Rails?

Common marketing mistakes (and how to fix them)

After speaking with hundreds of business owners, here are the two marketing mistakes I see most often, even in successful companies:

1. Over-reliance on one or two lead sources

Most businesses that have been around for a while have some “old faithful” marketing strategies. This is whatever brings in most of their leads, month after month. It might be word of mouth, social media, PPC advertising, or whatever else tends to work. You should absolutely keep doing whatever’s working, but there is a real risk when all your eggs are in one basket – adding more strategies into the mix makes for a more resilient business. Aim for 9 or 10 lead sources, not the average 2-4.

2. Keyboard Warriors

Digital marketing is a key component of most marketing plans – whether that’s organic social media posts, paid advertising, Google ads, or investing in other lead generation platforms. But relying on these platforms means you don’t own or control your database, and your market access is at the mercy of the algorithm. Look to add some real-world marketing strategies to complement your online messaging.?

Into the Wild

If you’re ready to diversity your marketing approach or get out from behind your screen, here are a few “real world” lead generations strategies to test out in Q4:

• Networking and Partnerships – what other companies serve the same customer base as you, but aren’t competing to solve the same problem? How can you work together to take advantage of cross-promotions and referrals?
• Direct outreach – no one likes making or receiving cold calls, and most direct mail goes directly to the blue bin. That doesn’t mean these channels are dead; it means your approach has to evolve.
• Referrals and Testimonials – are you asking all your clients for referrals? Do you have a system for asking consistently? A well-designed and thoughtfully executed referral program can multiply your current client base.
• Events and Sponsorships – whether that means hosting your own, attending tradeshows, or finding networking groups or masterminds.

This Week’s Takeaway

Where are your best leads coming from?

If you’re not getting enough leads, or if most of your qualified leads come from just one or two sources, that’s a good sign it’s time to work on your marketing plan.

BONUS ROUND

The ultimate marketing mistake is doing too much marketing, and not enough selling.

Focusing on lead generation rather than lead conversion will eat away at your profit line.

If you’re not closing enough of the leads in your pipeline, rather than putting more time and money in marketing that doesn’t work, what ROI could you get on a world-class 12-week sales training course?

Check it out here and reach out to claim your spot.

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