Leading experts agree that a company’s lack of a marketing process is a recipe for failure. So then, why are so many companies failing to take note of the writing on the wall, so to speak?
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One of the biggest mistakes that many companies make is to ignore the importance of a tried-and-true marketing approach. Companies naively assume that their marketing team can produce great results based on their team’s experience alone.
Brian Tracy, a coach at Entrepreneur, wrote that a major reason for business failure is poor marketing:
“In almost every troubled company I have consulted for, ineffective marketing … has been the major problem or cause of slipping revenues and financial problems” (emphasis added).
Is There Really An Issue?
Yes, there is an issue out there in marketing departments.
Do any of the following problems strike a familiar chord with you?
Many times, marketing teams do not have a clear understanding of where they are heading, or how to get there. Granted, while there may be a general idea (i.e. “Market Product X to Target Audience Y”), many marketing teams do not have an organized plan to arrive at specific results.
To add to the confusion, marketing teams come from various educational and professional backgrounds. Although variety can produce effective collaboration, it can also be the source of much confusion within the marketing department. For example, one marketing term — such as “go-to-market” — can be defined in many ways. Until your marketing team is on the same page, a lot of time might be wasted getting lost in translation.
Accountability is also often missing from the equation. Without clear accountability, it is easy for people and project details to slip through the cracks. Such confusion makes it easy for multiple people to waste time working on similar jobs without coordinating their efforts.
A strategic marketing process will better utilize your team – ensuring that every member is working to the fullest potential, without overlapping their work and process with that of a colleague. It is vital for companies to invest in their marketing department in a way that will help them operate as a team – speaking the same language, sharing the same strategy, and working towards a goal in an organized, measurable way.
The Bottom Line
The overarching problem for many marketing teams today is the lack of a clear and repeatable marketing process. The wheels are reinvented every time a new project is announced. The reality of this situation means that marketing teams are slower-moving, less efficient, and less organized than is required for success. The implementation of a complete marketing process can seem daunting, but even so, it is well worth the effort of creating one today for best results and highly efficient and rapid market entry tomorrow.
Henry Ford famously said, “Nothing is particularly hard if you divide it into small jobs.” While manufacturing has advanced greatly from Ford’s day – the principle of the power of a structured process remains. A company’s marketing process must strategically match consumer needs with its business objectives and market capabilities. In an ever changing marketplace, the marketing process can then be further simplified by dividing the total market into smaller more manageable segments, and then pinpointing the segment where the business can best perform and even outperform competitors.
Ensuring your marketing team has a repeatable, knowable, teachable, strategic marketing process will mean that your team will operate at its fullest capacity, and that your go-to-market plans will be more effective.
- Does your company have a clear marketing process? Why or why not?
- What experiences have you had with companies who refuse to implement a marketing process?