Dunno about you, but I LOVE a good disaster flick.
From Towering Inferno to the Posiden Adventure to the uber-classics, like the Tommy Lee Jones Anne Heche joint, Volcano — I’m IN!
In fact, a mutual love of disaster movies is one of the ways wifey and I bonded, so many moons ago…
Anyway, we were recently watching the Mark “Marky Mark” Walberg vehicle, Deep Water Horizon (on video, for the second time, because of course we originally saw it in the theater, but it was so nice, we HAD to see it twice!).
A really fantastic film, and if you have seen it yet, do so. I can’t recommend it enough.
As great as the movie happens to be, sadly it’s based on a true story that ended in a tragic loss of life and an environment catastrophy…
The calamity occurred when a British Petroleum exploratory oil rig blew out and was totally destroyed in the Gulf of Mexico, off the coast of Lousiana.
And the most devastating aspect of the whole sad tale? This disaster was COMPLETELY avoidable…
BP executives placed an arbitrary deadline on the project, and progress ” fell behind.” To “make up for lost time,” the management team rationalized the results of inconclusive tests and ignored drilling rig best practices. All in slavery to a randomly defined “schedule.”
And as a result… The rig blew out and totally destroyed a $200+ million dollar piece of equipment. 10 people died, many of whom were young family men. And 200 million gallons of crude oil was pumped into the Gulf of Mexico, off the coast of Louisiana, doing untold environmental damage that still hasn’t been entirely quantified.
In other words, haste, in this case, made total disgrace.
Well, the tragedy of Event Horizon got me thinking about business… And the disasters that befall many businesses. From promising ventures to established organizations. I’m talking huge business development and marketing mistakes. Most of which is due to poor planning, lack of foresight, and inadequate follow up.
In short, all the ways haste lays waste to productive business growth came to mind…
Here are the six biggest business-killing marketing missteps I’ve seen over the years.
Hope Marketing
Remember the Kevin Costner classic, Field of Dreams?
“Build it, and they will come…”
Maybe that works in Hollywood. But in the business world? Not so much…
Without a strategy, planning, well-chosen, tactics, measurements + adjustments, and continued follow through, you’re your biz is doomed to fail.
And I can’t think of a worse disaster, can you?
The writers of Deep Water Horizon actually use a line about hope in the movie… Mark Wahlberg’s character questions BP’s approach to the current drilling project and notes, quite candidly: “Hope is NOT a tactic.”
Very telling indeed…
The Solution?
Don’t hope. ACT!
Marketing Your Business with Zero Strategy
When you hop in the car for a road trip, do you toss your map out the window? Maybe I’m dating myself with that question??? How about… Do disable your GPS? Thumb your noses at Google Maps? Delete your Wayz app?
How about… Do disable your GPS? Thumb your noses at Google Maps? Delete your Wayz app?
And then just drive around until you (hopefully) reach your destination?
Of course NOT!
So would you treat marketing your business that way?
Marketing is your roadmap to business success. It’s the way you identify your target market, zero in on your ideal client, refine your messaging, select effective tactics, measure your results, adjust your approach to maximize your returns, and continuously follow through with the process.
Otherwise, you wind just throwing a fist full of random tactics at the proverbial wall. And hope you arrive at your destination of productive business growth…
Doesn’t sound like a dependable path to success, huh?
NOPE!
The Solution?
Marketing strategy comes before ANYTHING else.
Failing to Narrow Your Niche
If your biz at all resembles the professional services game at large, it’s a big world out there…
And when you look at the world, it’s hard not salivate with dollar signs in your eyes. I mean, just imagine if you could capture all that potential business?
Because it seems like the wider the net you cast, the more whales you’re likely to catch, right?
Unfortunately friends, it doesn’t work that way…
First of all, when you trying to appeal to everyone, you wind up speaking to no one. Come again?
The broader and more “all-encompassing” your messaging, the more generic it becomes. Which leaves your ideal prospects struggling to see themselves in your pitch.
Moreover, there are plenty of competitors in your space zeroing in on their (and your) ideal client. And what do you suppose happens when your competitors reach said clients with their pitch-perfect, niche specific messaging?
They win (your) ideal client’s business (and wind up eating your lunch).
The Solution?
Get s-p-e-c-f-i-c with your niche. Concentrate your messaging on highlighting what you do best. And focus your efforts on attracting clients in need of those services.
Failing to Define Your USP
Let’s say you’re walking your dog, playing with your kids at the park, out at a party, or at a networking event, and someone asks… “So, what do you do?” What do you say?
What do you say?
This is GO TIME. This is your moment to shine. Your opportunity to snag your next whale of a client.
But when you open your mouth, nothing but a rambling bunch of gobblygook comes out…
Opportunity lost.
In other words, if you’re not CRYSTAL clear on the value you provide your ideal clients, how can you expect to communicate that value to said clients?
The short answer is… You CAN’T.
The Solution?
Clarify the core benefit your services provide — in your words, using plain, easy to grasp language. And distill that benefit into a 1-3 sentences “Unique Selling Proposition” (USP), you can deliver anywhere, anytime, on demand.
Failing to Identify + Implement the RIGHT Tactics to Attract + Engage Your Ideal Clients
If you’re trying to reach old fogies (no offense to the senior set) search engine marketing and social media advertising are likely to fall FLAT.
Similarly, trying to reach Millenials with print magazine ads and direct mail is equally misguided.
This approach is akin to taking take fist full of cash and flush it down the crapper. Because that, along with wasting your precious time, is EXACTLY what you’re doing if your tactics miss their intended target.
The Solution?
Be sure your target audience is dialed into whatever marketing channel you choose to deliver your marketing messages.
Failing to Evaluate + Adjust Your Tactics
Here are couple fo common marketing scenarios…
Scenario 1: You implement a set of marketing tactics, and they all fail to net a single client…
The diagnosis? Marketing doesn’t work.
WRONG!
Scenario 2: You implement a set of marketing tactics, and they garner a lukewarm response…
The diagnosis? Well, that’s the best you can do.
WRONG!
Scenario 3: You implement a set of marketing tactics that nab outstanding results, and then peter out after a while…
The diagnosis? It was great while it lasted, let’s pray things pick up again.
No. No! NO!
The Solution?
Constant evaluation.
If a marketing tactic, or set of tactics, fails, underperforms, or falls off — it’s time to reconsider your approach…
Perhaps you pegged the wrong audience. You might have selected the wrong channel (or channels). Or maybe your messaging is off target.
Truthfully, it could be any number of scenarios, or even a combination of factors. The point being, throwing in the towel on marketing because initial tactics fail, or services existing campaigns despite diminishing returns is a UUUUUUGE disaster for your business.
Failing to Follow Through
Let’s say your marketing campaigns are an ENORMOUS success. Your business is FLOURISHING. Clients are rolling in. And referrals abound. In short, life is sweet.
So, you decide to slack off. And why not? You’ve basically got more business than you can handle. Sounds reasonable, right?
Not on your LIFE!
Of course, your pipeline is full in the wake of a successful marketing campaign. That’s the point of MARKETING.
But what happens when you stop feeding the beast? Your pipeline is destined to RUN DRY. And then you’re forced to start over. Rebuilding your book fo business from the ground up.
The Solution?
Let’s take a page from Glengarry Glen Ross… “Always Be Closing Marketing!”
These Aren’t the Only Marketing Disasters…
But they’re among the most common. So here’s a question for you: What are the biggest marketing disasters that have befallen your business? Drop by my Google+ page and share your horror stories. I’d love to hear from you!