Here’s the bad news: business failure in Australia is set to reach a staggering 87.2%, according to CreditorWatch’s Business Risk Index. Scary statistic, to say the least, especially if you put everything you have in your business.
As a business owner, you already know that good marketing can make or break your business. Unfortunately, a lot of businesses invest a lot of money in marketing campaigns that don’t really do much for them. So, if you’re experiencing the same problem, here are some telltale signs that your marketing campaign is failing you and how you can turn things around before it’s too late:
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You don’t have a clear marketing strategy.
If someone asks you right now, can you explain your marketing strategy clearly? Or do you even have any idea about your marketing campaign? If you don’t, then you could be in trouble because while you’re not required to have extensive knowledge about marketing, you at least need to know what your strategies are.
But the problem is, a lot of business owners delegate this task to a marketing team or third-party provider and forget about it. So if you’ve done the same, it’s time to go back to your marketing strategy—if you have one—and re-evaluate everything to know exactly what you’re doing right and what needs to be changed.
This is also a good time to determine if you’re still working with the right people for your marketing campaign. If you’re having problems with your current team, you can always search for a partner that offers SEO services for dentists, for instance, if you’re one.
Remember that having a clear marketing strategy will help you understand your audience and send the right message to them.
You have poor website traffic.
Good website traffic is a strong indicator that your marketing campaign is working. But if your website audit shows that your number of visitors are constantly declining and your bounce rates are constantly rising, then it’s time to re-think your marketing campaign, especially SEO.
Poor website traffic can be caused by many things but especially poor SEO and bad content. Keep in mind that you spent a lot of money putting your website together, so you have to make it work for you. If you’re suffering from poor traffic, you need to work with your team in looking for ways to change things.
For instance, you could start writing more SEO-friendly content, do more extensive keyword research, or just spruce up your website.
You have poor leads that are not converting.
Lead generation is one of the most important parts of any marketing strategy because it’s the first step in the sales funnel. But it’s also a known fact that finding leads isn’t the easiest, especially if you don’t have a cohesive marketing strategy in place.
So, if you have been noticing that your leads are quite small and you’re not converting them into sales, then it’s time to change things up by investing more in lead generation. The first step to doing this is creating a more clear and concise marketing message.
It’s also very important to give your leads an opportunity to warm up to you by providing all the information they need about your business on your website, social media platforms, and other marketing channels. By doing this, your leads will already have a feel of what your business is like, so it’s easier for them to understand you during that first conversation.
You have very low engagement.
You’re always creating content, you’re active on social media, and you’re always investing in events that would allow you to engage with customers. Still, your engagement is very low and you’re already starting to wonder if there’s something wrong with your business.
The truth is, there isn’t anything wrong with your business, but there could be something wrong with your marketing campaign. If you only get occasional likes and rarely any comments on your post, then you could either be reaching the wrong people, creating the wrong content, or simply promoting your business the wrong way.
To turn things around, you have to start by re-evaluating your campaign to see what you’re doing wrong. This will help you find the right solutions that will create better engagement for your business. For instance, if you’re targeting the wrong audience, you can change your content to what would be interesting to the people you want to sell to.
It’s also very important to determine the channels where you can get the most engagement from your audience. For instance, younger consumers depend a lot on social media, while older consumers prefer to read blogs.
Your marketing campaign is quite chaotic.
From an outsider’s point of view, a marketing campaign could mean PR, traditional advertising, social media or SEO. This is also why a lot of businesses, especially those that manage their own campaigns, think that they have to be in every platform possible to be effective.
But the truth is, not all of these platforms will work for you, so you have to focus on those that will give you the results that you need. In fact, you can start by focusing on just one channel and building your marketing reach from there.
If you have too much on your plate, things can easily get out of hand, and you could waste your budget on strategies that won’t give you any return on investment. It’s also a smart decision to work with a team of specialists rather than taking chances on your own.
When you have professionals on your team, you can easily create a strong and effective marketing campaign that has everything you need to get real results. Handling everything on your own will not only be overwhelming, but it will also waste time that you could’ve used in more important tasks for your business.
You’re losing valuable customers.
When you’re doing everything yet you’re still losing customers to the competition, you should start looking at your marketing campaign. The thing is, customers will not easily be swayed into buying cheaper products if they know the value they can get from your own products.
In fact, a lot of customers are willing to pay more for products that they can enjoy. But your premium products won’t be worth anything to consumers if they don’t know the value you offer. This is why it’s very important to revisit your campaign and make sure that you’re sending the right message across to consumers.
This way, you can inform them of what they can enjoy if they choose you over the competition, so they won’t easily jump ship to the first cheaper alternative they see.
Finally, your marketing campaign could be suffering because of bad PR. Keep in mind that word of mouth is still one of the most effective strategies because most consumers would easily buy products that are referred by family and friends more than any advertisement.
So if your PR has been suffering, make sure that you invest in this area of your campaign so that you can take advantage of the benefits of word of mouth in marketing.
Is Your Marketing Campaign Failing You? Here’s How to Tell
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