Some can see it as an expense, some as a basis for business development, and some as something without businesses can’t survive.
However, existence of marketing in business does not guarantee results. Statistically, failures are more than successes. But, failures are not something that must be seen as disappointment. They are the basis for future improvements.
What are the main reasons for marketing failure in small businesses?
Here are some basic reasons.
- Lack of marketing. When something does not exist we cannot measure success. How we will know that something succeeds or fails if we don’t implement anything.
- Lack of systematic approach. Wandering from one thing to another, without a systematic approach that will show what is taken, what are the results and what should be done to improve can be a reason for marketing failure.
- It is based on assumptions. Assumptions, although most used in business, still represent a major threat to businesses. It shouldn’t be based on assumptions, but on research, analysis, contacts, testing, measuring…
- Copying the competition. Although you can get quality information from the competition, yet complete copying without adaptation to the unique value of your business is the reason for failure.
- Ignoring the competition. If you don’t copy the competition, does not mean completely ignoring them. Much important information is hidden in the activities of your competition. You need to analyze and use that information in building your own marketing strategy.
- Ignoring customers. Customers are the most reliable sources of information that will tell you what should be done in relation to your efforts. Rejection of customer’s ideas, suggestions or requests can be one big reason for failure of your marketing efforts.
- Implementation without goals. Like everything else in business, it must be based on the goals that will need to be achieved. If you don’t have goals, it is better not to continue with effort to make something without a goal.
- Implementation without strategy. The strategy defines the road that you will need to walk toward success. Lack of strategy is one of the reasons for failure.
- Implementation without a plan. The plan takes you through the process of strategy implementation, but also through the preparation of future improvements. Without a clear plan, you will continue to feel lost.
- Targeting everyone. You can’t satisfy everyone. Therefore, the marketing can’t target everyone on the market. The sooner you realize who your ideal customers are it will be better for you.
- Ignoring the online activities. Today is unacceptable to ignore the fact that most people more of their time spend online. You must be there.