The 3 most common reasons why marketing fails
The 3 most common reasons why marketing fails
Marketing mistake 1: Not focusing on a niche market that really needs and wants what you are selling. To be successful in today’s hyper-competitive marketplace, you absolutely must focus your marketing on serving a specialized niche market. This is especially true and a matter of survival if you have a small marketing budget. If you ignore this advice and try to market to a large general market before first becoming the market leader in at least one or two small niche markets, I can guarantee that you will go broke and then go out of business. However, if you do decide to focus on serving a small niche market, you greatly increase your odds for business success with far less financial risk.
Marketing mistake 2: Focusing on features instead of benefits. A feature explains a fact about what a product does such as a specification. For example, the new ZZ car has anti-lock brakes. That is a fact about the car - it has anti-lock brakes. The problem with only listing a feature is that a feature does not explain how it benefits a person. Why would you want a car with anti-lock brakes? The answer to that question is the benefit. Anti-lock brakes are much safer because they keep your tires from locking up and skidding so you do not lose control of your car. Therefore, if you drive a car that has anti-lock brakes, you are less likely to be in a car accident and killed. The benefit is the positive end result. People buy benefits, not features. Therefore, in your marketing, you absolutely must focus on benefits instead of features. The more powerful you can make your benefits, the more successful your marketing will be.
Marketing mistake 3: Not marketing on a consistent basis. At any given time, a market will only have about 1-3% of its population interested in buying your product or service. For example, let’s say you are a home remodeling contractor and you meet with 100 home owners. On any given day only about 1-3 people may be interested in buying your home remodeling services. That means up to 99% will not be interested in buying your product or service right now. However, in a week, a month, or a year, they may be ready to buy because their needs have changed. If you are only doing your marketing on a one-time basis, you are missing out on 99% of the market that may buy from you in the future. That is why you must consistently market to your target market month after month forever. If you are going to market with sales letters, send out sales letters to your contact list every single month. Many of your prospects may have to receive your sales letter 6-12 times or more before they will be ready to buy from you. If you advertise in a trade publication, advertise every single month. Many people will need to see your advertisement over the course of several months (or years) before they will be in the market to buy from you. If you advertise on the radio, don’t run your ads for a month and stop. Keep running them month after month. Think of marketing as out of sight, out of mind. If you are not constantly marketing to your marketplace so your name and the benefits of your product or service is in fresh in their minds, they will forget about you very quickly and buy from the company that is consistently marketing to them.
If you follow the advice given in this article I guarantee you will quickly see an increase in the success of your marketing program and your business will grow and prosper.
The 3 most common reasons why marketing fails - To learn more about this author, visit Peter Geisheker's Website.
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As the CEO of a marketing firm and a marketing copywriter, I see horrible marketing every day. Here are the 3 most common mistakes I see businesses make with their marketing which causes their marketing to fail.
Marketing mistake 1: Not focusing on a niche market that really needs and wants what you are selling. To be successful in today’s hyper-competitive marketplace, you absolutely must focus your marketing on serving a specialized niche market. This is especially true and a matter of survival if you have a small marketing budget. If you ignore this advice and try to market to a large general market before first becoming the market leader in at least one or two small niche markets, I can guarantee that you will go broke and then go out of business. However, if you do decide to focus on serving a small niche market, you greatly increase your odds for business success with far less financial risk.
Marketing mistake 2: Focusing on features instead of benefits. A feature explains a fact about what a product does such as a specification. For example, the new ZZ car has anti-lock brakes. That is a fact about the car - it has anti-lock brakes. The problem with only listing a feature is that a feature does not explain how it benefits a person. Why would you want a car with anti-lock brakes? The answer to that question is the benefit. Anti-lock brakes are much safer because they keep your tires from locking up and skidding so you do not lose control of your car. Therefore, if you drive a car that has anti-lock brakes, you are less likely to be in a car accident and killed. The benefit is the positive end result. People buy benefits, not features. Therefore, in your marketing, you absolutely must focus on benefits instead of features. The more powerful you can make your benefits, the more successful your marketing will be.
Marketing mistake 3: Not marketing on a consistent basis. At any given time, a market will only have about 1-3% of its population interested in buying your product or service. For example, let’s say you are a home remodeling contractor and you meet with 100 home owners. On any given day only about 1-3 people may be interested in buying your home remodeling services. That means up to 99% will not be interested in buying your product or service right now. However, in a week, a month, or a year, they may be ready to buy because their needs have changed. If you are only doing your marketing on a one-time basis, you are missing out on 99% of the market that may buy from you in the future. That is why you must consistently market to your target market month after month forever. If you are going to market with sales letters, send out sales letters to your contact list every single month. Many of your prospects may have to receive your sales letter 6-12 times or more before they will be ready to buy from you. If you advertise in a trade publication, advertise every single month. Many people will need to see your advertisement over the course of several months (or years) before they will be in the market to buy from you. If you advertise on the radio, don’t run your ads for a month and stop. Keep running them month after month. Think of marketing as out of sight, out of mind. If you are not constantly marketing to your marketplace so your name and the benefits of your product or service is in fresh in their minds, they will forget about you very quickly and buy from the company that is consistently marketing to them.
If you follow the advice given in this article I guarantee you will quickly see an increase in the success of your marketing program and your business will grow and prosper.
The 3 most common reasons why marketing fails - To learn more about this author, visit Peter Geisheker's Website.
Like this article? Share it with your friends
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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