Thursday, March 29, 2007

6 Disastrous ways To WASTE Your Marketing Budget

Lynda writes:

1. NO RESEARCH REQUIRED - Those glossy brochures are probably collecting dust and the slick website you’ve just finalised is not producing any results? But you didn’t require any research, you say? THINK AGAIN!

2. WHEN SALES ARE DOWN! - During times of sales crisis, management will quickly jump into action and find additional spend for trade shows, websites, outdoor and the likes… only to plug the problem. Marketing as the poor cousin to sales, is a no-win. The only real way to ensure business consistently coming in, is to market consistently!

3. SHOOT FROM THE HIP - Do a couple of ads here and there, update your website with the odd press release, produce a ‘fresh’ brochure every other year…. Not quite going to give you the results you need, is it!?

4. PUBLISH THAT NEWSLETTER… ONCE - Certainly a newsletter is one of the most cost-efficient ways to stay in touch with both clients and prospects, but if you don’t deliver a quality newsletter on a regular basis, you might as well never begin. You’re only sending a message that you "don’t deliver", and if and when you do, you aren’t consistent.

5. NO MEDIA REQUIRED! - "Look at those rates. We can’t afford it!" So, the ad is published in a cheaper publication that doesn’t have the required credibility with the intended target audience... AND... viewing the media as "the enemy", and avoiding the press unless there’s "good news". Editors are interested in expertise and innovation, and a valuable opportunity is missed when these relationships are not developed.

6. DON’T GET PROFESSIONAL MARKETING ADVICE - "We don’t need a strategy – the sales team can write the brochure and the MD’s secretary will put the newsletter together!" Only if you aren’t determined to get great results, and grow a great brand in the marketplace!! Think twice before you decide a marketing professional is not worth your company’s weight in gold to you!