A lot of us have spent lot of money at different marketing initiatives that had never worked out. In one of our previous companies, to help things get better we did everything we could to drive registrations, going to trade shows, cranking out brochures and redesigning our website to name a few. However, though we have a very good product, unfortunately none of them worked. We had unfortunately sunk into the pit of marketing money, wasting so much cash on different marketing stuff that just didn’t work. Sounds familiar?
You can relate if you’re like many other small companies. Per year at StoryBrand, we connect with around 3000 customers. We’ve heard consumers tell us time after time regarding their costly rebranding program. We grimace and reassure them as kindly as we can that all of this was a waste of time and money.
I am so sick of seeing that corporate executives are wasting marketing resources. In one of three instances, it tends to occur. I want to teach you what they are and how to stop them so that your important marketing dollars go into strategies so your business could really expand.
Don’t redesign website without first defining the message
We just know how it is all going. “I want a new website,” you tell yourself. You search around and then find somebody to help you build one. They’re planning and constructing the website, and it looks completely stunning. This is your kid, and you’re the happiest parent of all time.
Yet nothing changes after you launch it. Sales are not growing. New buyers aren’t walking through the door. You have this wonderful new website, and no one pays attention to it.
The issue? In design, graphic artists receive grades. They’re mastering software like Illustrator and Photoshop. They’re extremely smart and understand how to create amazing stuff.
But hardly any of them are ever practicing a sales copy. They’re not writing words to sell stuff. People purchase the products on the basis of the words they read and hear. And indeed the design might make certain words more visible and understandable. Yet finally, they are the words that inspire us to take any action.
When you’re at an agency to build a website, and they’re not qualified to write the right words that would market the product, you’re wasting money. Websites can’t get away on their own good looks.
Are you depending on design professionals to write the words on the website? If that’s the case, you’re obviously using the wrong words, and it will cost you money.
Before you update your website, check out some guides for every stage of the procedure and do not presume that a pretty site is a successful one.
Do not sponsor a trade show booth without a strong one-liner
Is participating in trade shows a part of your business strategy?
Exhibiting at a trade show lets you interact directly with qualified prospective buyers and can significantly improve the influence of your company.
If you are a typical business, 31.6 per cent of your total marketing budget has been allocated to trade shows (as per this research). And some significant dollars have been dumped on the shows, supplies, and travel expenses.
And all of this looks great. Heck, you’ve also got a theme of succulents and new furniture.
So what are the words that staff use as prospects enter your booth? How do you express what the business does and the challenges you solve?
If you don’t know, you’re going to lose all the investment. Since the eye-popping booth may draw interest, but at the end of the day it’s the words you utilize within the booth that will help you do more business.
You need to have a one-liner: a very well statement that can be said to get people to purchase your product.
Second, this statement explains the dilemma that the average client has. It explains how the service or product addresses this dilemma. And ultimately, it explains the resolution of how the client’s life is improved as a result of using your product.
When you have a one-liner, ensure that every team member in your booth knows it. When you use the formula to say what you’re doing, those prospective consumers will hear and recall. And you’re potentially going to get a better return on your investment rather than tossing out your marketing money.
Do not create a newsletter that nobody ever reads
If you’re asking your clients to sign up for your newsletter, you’re wasting your resources. Here’s the reason.
No one needs to sign up for the newsletter! How many newsletters in a given month do you sign up for, honestly? Within a year? And of those you sign up, which ones are you really reading?
Let’s say that everyone is signed up for the newsletter. That implies you have to submit one each week or month.
You need to write or collect content, manage photos, layout, design, and evaluate it all and send it. Or you have to persuade one of your staff to waste their valuable time on this—rather than the other important things on their hand.
In any case, what does all that work actually do to get the company going?
It’s time to move past the newsletter. There are much better email techniques out there which can:
- Start generating more email registrations than a mere “newsletter” offer would ever have been.
- Establish deeper, more trustworthy relationships with clients
- Enhance your position as the leader of your industry
- Push the revenue directly from the emails you send
One of those tactics is essentially to deliver a free piece of “lead generation” content that your customers get when they register for your newsletters. Here’s how to add a lead generator to your email list. Implementation of this strategy—plus a range of smart follow-up emails—is expected to take the same amount of employees time as the newsletter, but can offer a much better return on the investment.
So many businesses are spending large sums of marketing resources. I don’t want you to do it. If you do something on this page, I want you to stop doing that. I want you to try out this free video collection, too. In it I’m going into a lot of depth on what to do instead, so you can skip the money market trap and start producing marketing that really helps your company expand.