One of the most common mistakes business owners make is not taking the
time to create a strategic marketing plan. Most approach their marketing
in a copycat, frantic manner that produces little results.
Consider the following cautionary tale. There was a business owner who
produced excellent widgets. His widgets were high quality and were the
best you could buy in the market. The business owner said to himself, ‘I
need to sell my fantastic widgets to everybody. They are so good people
just won’t be able to live without them. I better advertise.’
He anxiously glanced around the marketplace and noticed that his
competition was selling a lot of his inferior widgets with a coupon offer
in the newspaper. He thought to himself, ‘They seem to be getting a lot
of business, so it must be working for them. I’ll try the same thing.’
His next step was to hurriedly come up with a similar offer, create a
similar coupon, and place the ad in the same local newspaper.
The response to the ad was miserable. The owner quickly became frustrated
and decided not run any more ads. ‘Marketing’s just a waste of money. It
never works, he cried. ‘I make the best widgets so people should know the
difference and just buy from me!’ Meanwhile, his competitor continues to
run his little coupon without pause over the next several weeks and
watched orders roll in.
Eventually, the business owner noticed that his widget sales were not
doing so hot and that his competitor’s were still flying out the door.
‘Well, I’ll build myself a website and tell people how great my widgets
are. My competition has one, so it must work for him. Then, they’ll be
knocking down my door to buy them from me,’ he confidently proclaimed. He
hired a professional web designer who created a beautiful website for him
that explained all about his widgets. The business owner was very
pleased. The competitor, on the other hand, persistently kept running his
coupon, week after week, in the newspaper.
After about a month, the business owner got very few visitors to his
beautiful website. Sales continued to be sluggish and the business owner
became desperate. ‘What a waste of money that was,’ he grumbles.
‘Everyone told me I needed a website! It tells how great my widgets are
and nobody still wants to buy from me?’
‘I know what I’ll do,’ he declared. ‘I’ll mail out a postcard to
everybody in the city. Somebody will be so impressed with my widgets
they’ll order some on the spot!’ A little while longer and many dollars
later, the business owner was once again disappointed with the response he
receives. And, of course, the competition continued to run his coupon
over and over, taking away sales from the business owner.
Finally, the business owner ran out of money and closed his doors while
his competitor continued cranking out the inferior widgets and selling a
ton of them.
What did the business owner do wrong? Why didn’t his marketing tactics
work for him? Why was his competitor more successful?
The answer is quite simple. The business owner was not committed to
a strategic
plan and the competitor was. The competitor created rain!
It may have been a simple strategy, but the competitor was always
consistent, patient, and relentless. His successful rainmaking depended
on regular exposure with clients. He developed familiarity with the
clients which led them to becoming comfortable with his offer.
Eventually, they bought from him even though his widgets were not as
good. His methodical, planned approach gave him a distinct advantage over
the business owner because the competitor took the time to establish a
relationship. He understood that being committed to the process of marketing is very
important.
The business owner, on the other hand, lacked commitment and was after the quick score. He had
no concept of taking a strategic approach with his marketing. He relied
on intuition and guesswork when he needed to market. His attempts at rainmaking failed. His
marketing lacked staying power because he failed to realize that a
relationship needs to be built before someone makes a purchase.
However, the business owner must be given credit for his effort. But when
he took a reactive stance to his marketing, he was playing catch-up from
the start. At best, he was doomed to mediocrity because he skipped the
crucial step of planning. This is often caused by many factors; lack of
marketing knowledge, feeling overwhelmed by all the choices, not knowing
where to start, not enough money, too busy making widgets, or not
believing marketing will work.
The most important reason, though, was a lack of commitment to marketing.
Granted, the business owner tried some well proven tactics to sell his
widgets. His downfall started with his disregard for the importance of
marketing his widgets. He was reacting to the forces within the
marketplace that he felt he needed to address---his competition.
To make matters worse, when he did decide to market, he copied the methods
and tactics of his competitor! How will his clients be able to tell what
makes his widgets superior? Confusing clients and prospects is never
a good strategy.
The first thing the business owner should have done was to commit to a
strategic marketing plan and work on it each and every day. His next step
would be to decide to become proactive and create the marketing his
widgets needed and not the react to the competition.
Being a rainmaker and creating successful marketing is something that can
only be accomplished when you are committed to making it happen.
“The only place you’ll
find success before work is in the dictionary.”