Are you suffering from Marketing Insanity?
The definition of insanity is doing the same thing over and over again, and expecting a different result. The definition of marketing insanity is, therefore, doing the same marketing over and over again and not getting any better results. So why do so many small businesses insist on this approach when it comes to attracting new prospective clients?
There are two reasons for this:
- They haven’t measured the performance of the marketing they have been doing.
- They have knowledge of only a certain number of ways of marketing their business.
Does this sound like an issue you have? Let’s see how we can improve things for you.
Why Measure your marketing?
There are three reasons to measure your marketing:
Time is a resource that you always need more of. Using up time on marketing activities that aren’t generated leads and clients for you is wasting that time. It is time that you cannot get back. It’s gone forever.
The old saying “time is money” counts here, but it is also the amount of money you spend on marketing activities that don’t work, that has to be considered. The more money you waste on marketing activities that don’t work, the less reaches your bottom line.
Too many people measure the vanity metrics of Likes, Follows and Shares. Whilst important, as they are likely to be pointing people at your website, or where people buy from you, they are not THE measures of success. From there, people often then measure the number of leads developed by a particular marketing channel. Again, whilst important, it is not the most important measure. The most important measure of success is return on investment. Let me explain.
Leads that don’t turn into sales are also a waste of time and money. If you stop measuring at Leads, you risk wasting more time and money. If the leads aren’t turning into sales, they are probably the wrong leads.
When, as a business owner, you have limited time, you can only do so much. If you invest time in learning how to do certain types of marketing, you want them to work otherwise you think that you have wasted your time.
That’s actually not true.
What you’ve done is tried something that you can now cross off the list. There are huge numbers of ways to market your business and the chances are you only have time to work with a small number. If you have tried certain marketing channels over and over, don’t succumb to marketing insanity. Get some advice and look at what other marketing channels you could be using.