90% of your marketing is a waste of time and money
Posted on 8th January 2021 at 14:19
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OK, so that headline may be a little misleading…
Or it might not be.
Truth is, I can’t say for certain. No one can.
What I can say is that when it’s time to sign off those marketing invoices, many CEOs and FDs certainly feel that way.
The reason? People make marketing more complicated than it needs to be.
They confuse the what: getting the right message to the right people at the right time, with the how: social media, PPC, SEO, email, direct mail, landing pages, websites, etc.
Marketing should be (reasonably) simple...
Doesn’t mean it’s easy though.
But you also don’t need to over-complicate it.
Simplify what you do, and minimise the wasted time and money, by separating the ‘What’ (you’re trying to do) from the ‘How’ (you’re going to do it).
‘What’, means getting super clear on who you're targeting, what it is you offer, and what you want to achieve.
As an exercise, pick an industry... Then pick a sector of that industry... Then pick a sub-sector of that sector. Go as granular as you can.
Once you’ve got your sub-sector, find out everything you can about them. Their needs, wants, pains, challenges, where they hang out, what they read, who they take advice from (you’ll also discover the best ways to engage with them)...
Then present what you offer in a way that will appeal specifically to them.
A few things should happen when you do this…
One - People will begin to see you as the go-to product/service in their sub-sector
Two - You’ll pick up a bigger share of business in your target sub-sector
Three - Other people not in that sub-sector will see the benefits your product/service could also bring them
Four - You’ll start to save money and time in your marketing
Five - Your CEO and FD will recognise your greatness and immediately see marketing as the most important part of their business (well, one can dream)!
Once you have this process down you can repeat for other sectors…
And then you won’t feel like 90% of your marketing is a waste of time and money.
Tagged as: Marketing
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