Dog Days of Marketing? 5 Symptoms of Marketing Stagnation
Are you familiar with the expression dog days of summer? At least here in Minnesota − the Land of 10,000 Lakes − the dog days are those hot, steamy summer days when an algae bloom puts a layer of green scum on the lake. The air is thick and humid, and everything feels, well, stagnant.
Maybe your marketing efforts feel stagnant, like they’re stuck in the dog days.5 Symptoms of Marketing Stagnation
Is your marketing experiencing any of these stagnation symptoms?
1. You’re Not Sure If Marketing is Having any Effect
You’ve poured money into various promotions and advertising only to wonder if you made a big mistake. Maybe you’ve even seen a spike in Facebook page likes or website traffic, but you’re not sure if these efforts are translating into sales.
Without a clear attribution model, you’ll have no way to determine which (if any) of your marketing initiatives are yielding returns. And that will make you or your marketing budget gatekeeper a lot less likely to invest money in the unknown.
2. You Have Unclear (Or No) Marketing Strategy & Goals
In her article, How to Tell If Your Content Marketing Is Working, Ann Gynn’s guest commentators agreed that the first step is develop goals for your marketing initiatives. She called it, putting the ‘why’ behind your program.
You’re exploring new channels and marketing tactics, or you’re not doing a darn thing different from last year or the year before. In either case, the big question is, why?
Why have you decided to take new actions or to keep things the same? What specific goals are you trying to accomplish? What’s the strategy?
No goals and no strategy means you can wander from one lackluster tactical response to the next, taking your marketing in no particular direction.
To quote Neil Patel in his article 10 Common Reasons Why Content Marketing Isn’t Working for You,
“Any strategy — even a bad one — is better than no strategy. With a bad strategy, you can at least figure out that it’s bad and change it. With no strategy, you’ll just keep on doing what you’re doing, wasting your time, losing money, and ruining your brand.”
Need help setting marketing goals? Check out this helpful post.
3. Your Website Traffic / Inbound Leads / New Revenue Have Plateaued or Decreased
Your company’s sales director is literally begging marketing for new leads. Your potential customers aren’t finding you or, if they do find you, they aren’t committing.
The first question to ask is have you turned your website into a lead-generation machine? Or is it just a really cool company brochure?
We all buy differently now than we did ten years ago, so if you haven’t changed how you sell, then you’ve just been diagnosed with a case of marketing stagnation.
The cure is an inbound marketing framework.
4. You Can’t Communicate Your Unique Value Proposition Quickly & Clearly
I once worked with a salesperson who recounted a white-knuckle sales appointment early in his career. His prospect wanted to hear a succinct version of the offer and demanded, “Pitch it in 15 seconds or pitch it in traffic.”
Your website visitors aren’t consciously demanding the 15-second pitch, but their attention spans are. According to Statisticbrain, the average attention span has dropped to less than that of a goldfish: 8 seconds.
Here’s the thing: you need to connect your customer with the value on every marketing touch: on web pages, emails, videos, brochures, banner buds, radio ads...
If you can’t quickly and clearly communicate how your company’s products and services solve customer problems, your customers are going to swim off to the other side of the fish tank to watch air bubbles come out of the little deep sea diver guy.
5. You Haven’t Charted Your Buyer’s Journey
If you don’t how and when your buyers make decisions, you’ve put yourself on a beautiful island. You might as well write your marketing messages on scraps of old pizza boxes, shove those scraps into empty glass bottles, and throw those bottles into the ocean. Because building a marketing program without understanding your buyers’ moments relies on sheer luck .
Without knowing how and when your customers make purchase decisions, you can’t target your marketing to their specific moments.
- Your buyers didn’t even know they had a problem until you pointed it out to them with a top-of-funnel awareness campaign.
- And those buyers hadn’t even thought of comparing solutions to the problem until they saw your middle-of-funnel consideration campaign.
- And how easy did you make it for your buyers when you lured them in with your bottom-of-funnel decision campaign?
And guess what? That buyer’s journey needs to include your existing customers. Their lifetime value isn’t a one-and-done proposition. You’re at least three times more likely to close a deal with an existing customer than to sign a brand-new customer. How does your marketing support upsell opportunities to existing customers?
Denamico helps companies like yours overcome marketing stagnation through inbound marketing. More traffic, more leads, more customers. Contact us for a free consultation.