Top 3 Reasons For Failed Marketing
JAG Banana is here to talk about some of the most common causes of failed marketing strategies.
Wondering what to do when your marketing isn’t driving the sales you want?
Too many times we’ve consulted for experienced entrepreneurs, marketing directors and CEO’s with the same problem: “My current marketing isn’t working for me.”
9 times out of ten, their evaluation stops there and this is where we begin our work.
Depending on your industry and your goals, the indicators for a failing marketing strategy can be any number of things. However, we have studied over 500 different cases over the last 20 years across the Americas (North, Central, and South) and in almost 100% of these cases, it has to do with one or more of the following:
Failure To Utilize All Channels In Harmony
El no hacer uso de los canales adecuados en conjunto resultará en un bajo retorno de la inversión. Ya sea que su inversión sea en tiempo, dinero, recursos o una combinación de los tres, si no está utilizando todos los canales juntos, es probable que esté dando vueltas. Hoy, se llama marketing omni-canal. De acuerdo con la Fórmula JAG, esto comienza con una base que incluye un sitio web interactivo con SEO inteligente, Google My Business, Instagram, Facebook y YouTube. Luego continúa en persona con los medios impresos, la indumentaria de los empleados y los esfuerzos de marketing tradicionales, todos trabajando en armonía para brindar al cliente una experiencia única que es perfecta en todos los medios.Failure to make use of the proper channels in conjunction with each other will result in a low return on investment. Whether your investment is time, money, resources or a combination of the three, if you aren’t utilizing all channels together, you’re likely spinning your wheels. Today, it is called Omni-channel Marketing. In accordance with the JAG Formula, this begins with a foundation that includes an interactive website with intelligent SEO, Google My Business, Instagram, Facebook and YouTube. It then continues in person with printed media, employee apparel and traditional marketing efforts all working in harmony to provide the customer with a singular experience that is seamless across mediums.
Marketers keep marketing. Even if it isn’t working.
And doing it yourself is not the right move.
Simply having these things active is not going to be enough, however. In fact, if all you’ve done is create the accounts and begin publishing content, you’re very likely going to be operating at sub-par efficiency and, in some cases, harm your brand more than help it.
In other words, if you aren’t investing in these channels the proper time, money and expertise, then you’re better off not doing them until you are ready to treat them with the care that they require. That means doing it yourself is probably a bad idea.
2. Mismanaged Budget or Wasteful Spending
More often than not, when we are called in for a consultation, the client is spending too much on one channel and next to nothing on the others. Other times they will be spending nothing by doing it ‘internally’. In this case, those who think they are keeping it cheap are doing it themselves or leaving it in the care of the cheapest option available - frequently it is a friend, family member, employee or amateur who is doing it for the lowest amount possible.
Whatever is spent, the loss in returns is compounded by lost time and missed data opportunities that could have been put to use for growth and expansion, but are now gone forever. Hire a professional from the beginning. Future-you will thank you.
Although costs are down in the marketing column for accounting, during this time, sales are often down also. Many times, the marketing is in a downward spiral leaving the client in constant bewilderment of whether or not their efforts are working. The mystery of “what could have been” will forever haunt them. It’s a horrible feeling.
According to Forrester International, one of the leading causes of wasteful spending on marketing is poor data.
Segway!! ⤵️
Behavioral data cannot be found in social media platforms. It must be gathered and analyzed separately.
3. Poor Data or No Data At All
The 3rd and, for us here at jag.ec, most important missing element of failed marketing strategies is the data analytics, or lack thereof. Let’s get one thing straight right now: the “analytics” provided by social media monopolies is not pure data. It is filtered through the platform. You have no checks and balances. The “estimated reach” for paid ads come with a disclaimer that they are complete guesses.
“But JAG, when I pay for my posts I get more sales! That means it works.”
Did you ever think you could get even better results by spending next to nothing on the ad spend but more on yourself? What happens when you turn off the ad spend? Does that mean you turn off sales, too?
In conclusion…
We are not trying to tell you to cease all ad spends on social media and/or google. We are simply informing you that if you are not using your own website and data analytics in conjunction with social media, you are permanently losing valuable information you simply cannot get from a social media platform’s analytics. This means you cannot get it back later. The good news is that it’s better late than never. Starting late is better than never starting at all when it comes to collecting your own data and building your own in-house mailing list.
In conclusion…simple right? Lol.
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Like learning about branding and marketing? Wanna learn more?
We know it’s way easier said than done. That’s what we’re here for. Ready to make a move with one or all of the above mentioned but don’t know how or where to start? Don’t worry. Shoot us a text on WhatsApp and we can set up a call to discuss next best steps for you based on your industry, goals and current budget.
