Marketing Blind - How To Fail at Growing Your Business

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Marketing Blind is an ideal way to fail at growing your business and throw your marketing budget down the drain.   

Many businesses consider marketing to be an additional task that they just don’t have time for. Cold calls and a couple of ads in a local newspaper or a trade magazine are easy to fit in but anything else can be considered to be a big hassle.

After all, if you use your expertise to provide great services and/or products - marketing isn’t really your job is it?  Actually, if you do not have someone to outsource your marketing to, it is your job!

Marketing isn’t just about paying for advertising, having a website or putting leaflets through thousands of letter boxes. A crucial and almost forgotten feature about marketing is having hard cold facts about where your business is now and a crystal clear vision of where you want to be in the future. Marketing then includes the process of transforming your business from where it is now to where you want it to be to achieve your business objectives.

Marketing Blind
I would guess that most of us would never consider driving to a complete unknown destination, if we had no previous knowledge about the route, without either researching the route beforehand or using a map to get from A to B.

If you go away on holiday, unless you have an impeccable memory, you will have your travel itinerary with you to make sure that you don’t miss the flight or go to the wrong hotel. So why would you treat the growth of your business in the same way as an unplanned journey?

A perfect way to ensure that you never increase your profits or get your business out of a rut is to undertake your ‘marketing blind’. That is to know nothing about the position of your business in the market that you operate in and to proceed to implement marketing strategies without any long or short term goals.

Free Marketing Audit - The Situational Analysis Tool
If you do not monitor all of your marketing activity i.e. make a list of the media tools used, the budget spent, the profile of your target market, the number/cost of leads, and number/cost of customers, and revenue generated you will never know if your activities have met any of your business goals.

The Guerrilla Marketing Manifesto ‘Situational Analysis Tool’ is available for download free of charge - http://www.entrepreneurmarketingblog.com/free-marketing-audit/. It will take you through the process of how to:

1. Review the market that you are operating in. Is it new, old, growing or in decline? Can you enter a new market or should you exit an existing one?
2. Conduct research and find out what your customers/clients think of your products and services.
3. Review the internal and external conditions that affect the successful growth of your business and its profitability.
4. Consider whether your products, services and marketing match the profile of your customers and clients. Are any changes needed?
5. Review the features and benefits of your products and services. Should you launch new products, develop existing ones or withdraw from the market?
6. Recognise the intrinsic link between pricing, value and perception with your position in the market.
7. Have a clear brand identity which is promoted through all of your marketing activities.
8. Know the strengths and weaknesses of your planned business growth activities i.e. understand where the opportunities are that can be exploited and the downfalls that should be avoided.

After a Marketing Audit - The Next Step in Marketing
So if you want your marketing to succeed and do not want to throw your budget down the drain, you cannot keep doing the same marketing activities regardless of whether they work or not. The definition of madness, or so they say, is to keep doing the same thing expecting a different result.

You must complete a marketing audit by reviewing everything that you are doing, analyse the results and set objectives and goals to be met in the future. All of this information can be fed into a long term marketing strategy where you set your business goals over a 3-5 year period. You can then develop a short term marketing plan to ensure that you keep on track with specific marketing tools to be implemented over a shorter period of time - typically a 12 month period.

Marketing is about having a vision that can be translated into action - ‘Marketing Blind’ is the antithesis this. You must only take action based on knowledge and information (your gut feeling won’t hurt either!). So, before you pick up the phone and take another call from a sales executive flogging advertising space or spend another penny on advertising that you have no idea will work, take stock of where you are now so that you can achieve your future goals

Marketing Defined - A Dark Art?

Believe it or not, marketing is not a dark art only perpetrated by ‘those in the know’.   Marketing is often thought to be public relations (PR), sales or advertising – the kind that can be heard on the radio, seen on the TV or read in newspapers and magazines.  Furthermore, many businesses treat sales and marketing as two separate disciplines where the two sides can be in conflict with each other working towards different goals. 

The Marketing Process
In reality, marketing is a process that includes reviewing current trading conditions, setting business growth goals with a marketing strategy and implementing a tactical plan to achieve chosen objectives.  The marketing ‘umbrella’ includes a variety of disciplines where specific tactics or tools are used to promote brand benefits attached to your products and services to a chosen target audience. 

Marketing in the Past
For many entrepreneurs, the foray into the world of marketing is an uncertain one.  In the past, it wasn’t unusual to have a business that was running for some time to generate revenue relatively easily using basic marketing techniques. 

Perhaps the marketing activity was called sales or lead generation but either way revenue is generated.  However, as the economy becomes more competitive and it becomes more difficult to make a sale, you need to establish a strategy and plan to stay in business and a halt potential decline in your revenue.   

Marketing for the Future

It should be said that a marketing plan will not, in its own right, guarantee that your business will be successful.  In the first instance, you must have a pretty good business idea along with a thorough understanding of your market/sector.  Your challenge is then to know how to position yourself in the market to distinguish yourself from your competitors, promote the benefits you offer, fulfil the wants and needs your customers/clients and track the results of what you do. 

Whatever you do to grow your business doesn’t have to cost an arm and a leg, but you do need to creatively target the right people with the right information at the right time.Most importantly, you must implement your plan – without putting your ideas in practice you will be dead in the water.