Marketing your business today is not the same as it was even five years ago. Behind the scenes we see more and more young entrepreneurs entering the business world and over a quarter million boomer businesses exiting each year. We see the very visible changes in markets, media, and technology that affect how we market. The face of business itself is changing and so is how we approach marketing for our business.
There are many reasons why a marketing effort can fail — wrong media, wrong strategy, lack of value. Here are three reasons you may not have considered.
Reason #1: Wrong Story
Marketing is changing because people don’t care about your brand story; they only care about how your brand will make a difference in their story. In other words, your brand is not the “hero.”
Brands that win in today’s market are cautious to position themselves as a guide, inviting their customers to win the day by getting what they want. So, if your brand’s promise is based on a “best, better, different” mindset, you might be telling the wrong story.
Reason #2: Wrong Target
Marketing is expensive. Is your brand positioned to attract your ideal customer? When we invite less than “ideal” customers through our brand/marketing platforms, we not only waste marketing dollars, but we waste the time it takes to weed them out.
Strong brands reduce marketing noise by speaking directly to their ideal customers. What’s the lifetime value of your ideal customer? Wouldn’t you like more?
Reason #3: Wrong Packaging
The quality of your image could be costing you a lot of money. The truth is people trust marketing that presents a clean, consistent, quality image. Why? National brands have trained us to value a very high standard of quality.
Every day people make buying decisions based on the perceived value of your brand image. So, what does your packaging look like? Is it clean and compelling? Does it make people want to open it?
Want to Dig Deeper?
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What is the cost of not knowing?
• losing market share to a better-branded competitor
• wasting a lot of money on ineffective marketing
• low sales conversion rates
• low customer retention
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