Marketing is a whole different world than it was just 5 years ago. With the advent of big data, Customer Relationship Management (CRM) systems and applications, mobile marketing, Social Media, and an increased focus on Search Engine Optimization (SEO) and inbound marketing, it’s a challenge to stay on top of what is happening and hang on to that competitive edge that every business seeks.
Many business leaders make the mistake of holding on to old ways of thinking, and while some marketing fundamentals certainly still apply, businesses must get current in order to communicate with, and market to, other businesses.
Here are 5 Big Marketing Mistakes that Business-to-Business enterprises make today and how to avoid them
Ignore Social Media
The number of times company CEOs have said things like, “I don’t think social media is a good fit for our business” or “I fail to see how I can get a return on investment when it comes to social media” is probably countless.
The reality is that ignoring social media results in lost opportunities for engagement, extended reach, thought leadership, insight into market and competitor activity, influence and more, resulting in opportunity tolls that are far more expensive than imaginable.
As these opportunity costs ad up, the competitive advantage needed to get ahead in a consumer driven market slips drastically, leaving a gap that is impossible to bridge. Enterprises must know what is being said about them at the proverbial water-fountain and be willing and able to engage, respond and execute operations proactively in order to provide the best products and services possible.
Assume everyone thinks like you do and ignore analytics
Some have said that the most damaging opinion you can have when it comes to marketing, is your own. The perspective that matters is that of your target market; unfortunately, many marketing teams assume that everyone thinks the way they do: from a creative, marketing perspective.
Gaining insight into your target avatar is great, but that insight is only as good as how it tests out.
Test, Test, Test!!! Run split tests, run analytics and check those metrics. How are your marketing efforts performing? “Set it and forget it” simply does not fly when it comes to marketing messages; yes, you should go by the marketing research you’ve gathered, but you’ve got to test it and tweak it to be sure you get it right. Marketing analytics allow companies to measure, manage and analyze the performance of their campaigns in order to optimize and maximize their effectiveness. With analytics marketing departments can get the best return on investment for their efforts. Avoiding analytics wastes valuable marketing dollars.
Fail to facilitate understanding and implementation of CRM systems and applications
Encouraging sales representatives and other internal users to adapt to, and actually use, company CRM software systems and applications is sometimes difficult.
CRMs are designed to be a useful tool for sales and marketing, but often times the implementation is a wasted investment because, though users are generally shown the features of a CRM, they are often are not helped to understand the benefits of their use, nor are they properly trained or given sufficient support.
Ignore the value of systems and automation
Systems that automate portions of your marketing are a subset of CRM that help you dial in the scheduling, segmentation and tracking of your campaigns. The use of automation takes the manual labor out of marketing processes so that you can concentrate on developing more efficient campaigns
Businesses that fail to see the importance of systems and automation end up spending valuable time dealing with the repetitive tasks that go along with the marketing process. Through the assignment of tags, marketers can segment their audience, thus allowing the system to do send out targeted messages accordingly.
Miss the boat on Mobile
Mobile marketing has become more important than ever as Google threatens to penalize companies that are not mobile ready with their websites. According to statistics, however, only 55% of companies are mobile ready and 75% do not have a mobile strategy in place. When it comes to mobile marketing, the future is no longer on the horizon; the future is here and smart companies are on board.