As we stand at the brink of a new year, the stakes are high for businesses aiming to make their mark in 2024. However, amid the excitement of planning, tread carefully! You want to stay away from the common pitfalls that even the most successful companies can stumble upon.
We thought we would share the most common mistakes that companies often make when coming up with their strategy for the coming year, so you won’t do the same!
Your marketing strategy doesn't include a sales strategy
It seems like common sense, but a lot of the time, companies invest heavily in marketing activities but completely overlook a sales strategy. It’s like throwing a big party, but not sending out invitations. Of course you want captivating advertisements and engaging content, but their impact is maximised when aligned with a sales strategy. Once you have that interest, how do you follow up? It’s not just about creating awareness. You need to convert it into tangible revenue. So many businesses fall into the trap of focusing on the marketing without considering how they seamlessly connect with the sales pipeline. Don’t find yourself in the same situation.
You don't have a niche market
You can do all the marketing you want, but if you don’t have the right message, it doesn’t matter what marketing activities you do, it still won’t work. Your message is what can make or break a campaign. The danger is that you write off certain marketing activities as not working when in fact, it was because you didn’t have the right message. You need to craft a message that not only aligns with your brand but also resonates with your audience.
Another common mistake companies make is failing to define a specific niche market. It’s not enough to vaguely target business owners or a regional demographic. You need to concentrate on a niche that is finely tuned to your unique offering. It’s tempting to just reach a lot of people, but without a clearly defined niche, businesses struggle to tailor their messaging and strategy effectively. Your niche market is not only beneficial but is also paramount in giving your marketing context and precision, which is needed to cut through the noise and make a lasting impact, especially if your brand is in a highly competitive landscape.
You don't have the right message
You can do all the marketing you want, but if you don’t have the right message, it doesn’t matter what marketing activities you do, it still won’t work. Your message is what can make or break a campaign. The danger is that you write off certain marketing activities as not working when in fact, it was because you didn’t have the right message. You need to craft a message that not only aligns with your brand but also resonates with your audience.
Your marketing activities are too general or too scattergun
One other common pitfall businesses make is being trapped in generic marketing activities. It’s not just about being present, but being purposeful. It's not uncommon for companies to cast a wide net. For example, delving into social media without a clear understanding of its role in the broader sales process. The result is often a scattergun approach, where content lacks the specificity needed to guide potential customers through the sales funnel.
You don't include success metrics
You need to include a plan of how you are going to measure the success of your marketing activities. This is a common feature many marketing strategies lack. It’s not just about executing activities, it's about understanding their impact. It’s the same as travelling without a plan or map, how do you know if you have got where you need to be? Failing to establish clear metrics leaves the business in the dark, unable to know what aspects of your marketing efforts are driving success and what needs changing. By measuring these, you’ll be able to refine and optimise your efforts to make maximum impact!
Now you know what to avoid, consider revisiting this blog post when creating your strategy for 2024 and use it to help you stay on track.
