I don’t know about you, but I've never met an individual who enjoyed making mistakes; some are fear-based, some are meant to happen in order to grow and learn, and some are just plain unavoidable.
That being said, while there is no one-size-fits-all method to marketing, there are certain mistakes you can actively avoid in order to optimize the success and growth of your business. In this blog, we’ve boiled down three of the biggest mistakes marketers make along with easy solutions your team can implement today.
Your customer journey isn’t clear
Have you ever heard a wide-eyed and incredibly green entrepreneur say, “If you build it, they will come”? As hopeful as it is in theory, this quote, unfortunately, does not apply in marketing.
If you’re looking to attract and retain clients, defining the customer journey isn’t optional. That’s why we love the inbound marketing methodology: attract, engage, nurture, convert, and delight.
- Attract: A detailed, intentional, and creative content strategy is critical when bringing awareness to your brand and attracting new visitors to your site.
- Engage: Once you’ve attracted new visitors, it’s time to engage them. This stage provides a new audience with the opportunity to tell you they are interested in learning more about what your company has to offer them.
- Nurture: This stage in the customer journey is where you’ll spend a good portion of your time. With a detailed content strategy, you can continuously funnel helpful, relevant, and creative content to key decision-makers, which will enhance the relationship, trust, and value towards your brand.
- Convert: Although a small step in the customer journey, it’s often one that is overlooked. Once you have built trust and established a relationship with a potential client, you need to take action and not hesitate when asking them to take the next step.
- Delight: Providing your new customer with a fantastic customer experience is found within this stage. Arguably one of the most fulfilling and rewarding parts of any customer journey, the possibilities you have to delight your customers is truly limitless.
YOU are NOT the customer
Focusing on the needs of the customer and the way your customer thinks, versus advancing your portfolio or agenda, is extremely critical to the success of your business. Just like defining the customer journey is valuable in understanding your client’s needs, so too is thoroughly flushing out the customer’s mindset when it comes to your company’s products and services.
- Who is your customer?
- Identifying different buyer personas is vital primarily because the needs and wants of a wealthy business executive might vary significantly compared to that of a stay-at-home parent.
- What does the customer REALLY want?
- Most people aren’t contacting a brand new company for the fun of it. Usually, they have a problem that needs to be solved, and it’s up to you to identify that issue by way of easily digestible content that showcases how you aim to resolve those issues better than your competitors.
- What will make the customer happy?
- Discovering a customer’s problem and working diligently to solve it is excellent. But, even better is creating a positive customer experience that connects with the customer’s goals. By understanding their thought process, you are telling the customer they matter and are a valued asset to your company.
You aren’t focusing on repeat business
There’s a rule floating around in marketing that mentions 80% of the effects come from 20% of the causes. This rule can be classified as “Pareto’s Principle,” “the 80-20 rule,” “the Principle of Factor Sparsity,” and so on. But what does it mean?
Once you’ve captured the business of a client, it is imperative to your business to keep the momentum going. In the context of repeat business, 80% of your business will come from 20% of your customers. So, spending time and attention on the 20% of your company’s loyal and repeat customers makes sense.
According to research performed by NewVoiceMedia, over $62 billion is lost annually due to poor customer service practices. And, based upon a study done by Bain & Company, a 5% increase in customer retention practices contributes to a 25% increase in overall company profitability. Now, I’m no MIT math major, but if we put two and two together, I’d venture to say a more concerted effort at retaining the customers you’ve already worked so diligently to capture is guaranteed to lead to a net profit gain for your business.
Mistakes in marketing are inevitable, but they’re also easily avoidable. The fact of the matter is that marketers should never stop trying to understand the client’s journey, should always commit to refining their buyer personas, and should never stop trying to nurture and delight their customers.
Want to focus on marketing success? Download our free Buyer Persona Template.