I’ve heard it a million times: “((Fill in the blank)) doesn’t work.” Be it telemarketing, direct mail, canvassing, webinars, etc., etc., etc. Oddly enough, I ONLY hear that about marketing that costs money; I never hear anyone lament about Facebook posts, Twitter or LinkedIn, even though I’ve not had any client show me a documented, direct line from this type of free online advertising to substantial, quantifiable sales. However, there ARE times when you SHOULD give up on a particular marketing campaign.
While there is risk and instability in having too few Marketing Oil Wells, there’s also a risk in having too many, especially when a lot of what’s being done is marginally successful to outright unproductive. In a call with a client recently, we identified a radio advertising campaign they had been running for almost two years with only one really big, profitable client coming from it, and a handful of leads that never resulted in a sale. My advice was to kill it and use the money and time to focus on what actually was working. In this case, Google AdWords.
Often I see a LOT of marketing being done simply out of a “monkey-see, monkey-do” strategy and a focus on what is easy and cheap. Getting marketing done for the sake of “doing something” is GOOD… early on. The advice I give new clients is start doing SOMETHING and don’t worry about results just yet; but it’s critical to note that I don’t say, “Don’t ever worry about results.” The reason I give this advice is to get them to learn the ropes of IMPLEMENTING a campaign and to develop the habit of marketing. Next is a daily, weekly or monthly chipping away at refining it and improving it UNTIL it not only works, but becomes a consistent, predictable and reliable source of new clients and revenue—a REAL Marketing Oil Well. Read full article and comment →