March 14, 2024
5 marketing mistakes to fix right now
Marketing. Everyone has an opinion. Some are good, most are not and few are backed by data and facts. So, how do you figure out what to do?
For the last three years, business has been booming. We are now facing headwinds and need to sharpen our approach to maintain healthy growth.
With that in mind, here are five common marketing mistakes to avoid in order to set yourself up for success.
#1: Marketing to the wrong part of your customers' brain
People make decisions emotionally, and then rationalize those decisions intellectually. We first need to engage the limbic brain, responsible for emotion and decision making.
Author Simon Sinek’s research dove into how the best leaders communicated. Long story short, they communicated through purpose and emotional engagement. A famous example of this is Martin Luther King crying out “I have a dream!”, not “I have a plan.”
We have to speak with purpose and let the world know what we believe.
What is your belief? Why does your organization exist and why should anyone care? This answer can help you build a unique position in your marketplace.
#2: Seeing revenue as primarily a function of new business
Sales forecasts are primarily driven by pre-booked projects. But there are a number of other ways to drive revenue growth.
Every business basically uses the same model:
Leads x conversion rate = customers x average sale $ x average gross margin % = average gross margin $ x frequency of purchase per year x number of years as a customer.
You can optimize your revenue model throughout this formula.
Here are six ways:
- Invest in marketing to drive more qualified leads.
- Invest in sales training to close more deals.
- Raise your price or raise the minimum project size you’re willing to take on.
- Invest in time-saving equipment.
- Offer ongoing maintenance on your finished design/build projects.
- Engage past customers with an email campaign.
#3: Talking about yourself generically
“We are a full service, design-build and maintenance landscape company.” Great, what’s the difference between you and the next company that says the same thing? If you’re competing on price, you’re selling yourself short.
You need to establish a position in the marketplace that allows you to become the choice, vs a choice. Are you experts in tight urban environments? Do you know the soil conditions in your local community better than anyone else? Whatever it is, double down on your specific expertise. It seems counterintuitive to focus on a smaller segment of customers to accelerate growth, but it works. Focus not only helps you attract the right customer, but it makes your team develop greater expertise. You get faster, more accurate with your quoting and costs, and more profitable.
#4: Not defining specific business outcomes as a goal up front
Setting concrete goals — like the number of qualified leads in a year, the cost per qualified lead and customer acquisition cost — can directly drive revenue and growth. Impressions, clicks, brand awareness and community visibility do not.
The days of not being able to measure marketing are over, and if someone says something that starts with “If I had a crystal ball…” RUN!! Any marketer worth their salt knows the tools and benchmarks that help us predict outcomes. If you work with professionals familiar with your industry, they can provide clear direction on what to expect and measure against that goal all the way through your marketing efforts so that you know exactly what’s working, what’s not and what to do about it.
#5: Not considering industry benchmarks
Do you know what a qualified lead for a $100k plus landscape construction project should cost? We work with over 30 landscaping clients and in 2023, we saw these leads fluctuate between $375- $550 and about 20 per cent typically converted. That means paying between $1,875 and $2,750 to buy a new customer worth $100,000. That is a solid ROI.
Working with a partner who can help you benchmark your business is a game changer. It signals whether your business is doing better or worse than the industry average, how efficient and effective your marketing dollars are, and, it keeps your marketing partner honest.
Clean up these five mistake and you'll leave the amateurs in the dust.
Vanessa McQuade is part-owner of Intrigue Media, a digital marketing firm based in Guelph, Ont. For over 10 years, she has helped businesses get noticed and found by A-Clients.