BUSINESS
The second critical business mistake – reactive marketing
Marketing is much more than advertising to find new clients.
In fact, even thinking in these terms is the wrong way to look at it. by Greg Roworth
THE SECOND CRITICAL BUSINESS MISTAKE – REACTIVE MARKETING Most business owners tend to operate reactively when it comes to marketing and often use price as the main competitive element. This often creates a chain reaction with competitors, which ends up damaging everyone’s profits and cash flow. It is no surprise that this is the case.
I
n most small businesses, the owners are the primary income earners. Not only are they responsible for
developing marketing strategies and advertising promotions, they are also responsible for doing their fair share, or more, of the work that comes in when the advertising succeeds.
THEREIN LIES THE PROBLEM This situation creates a conflict of priorities that keeps the business revenue fluctuating around a fixed level. When you get too busy to spend time working on your business and working on marketing, your efforts become directed to making sure clients are serviced and that the work gets done.
This redirection of your focus means that you curb the effort you need to put into marketing and consequently the workloads tend to slow down. Marketing becomes one of the reactive tasks that get your attention when you have time for it. Advertising decisions in most SMEs
(small to medium enterprises) are often determined reactively, depending on how busy things are. There is no defined marketing plan. Advertising is initiated when sales slow and paused when sales pick up. Advertising is usually tactical rather than strategic. This endless reactive cycle just tends to keep the business operating around the same level of sales – survival level.
Most business owners have considerable expertise in their profession or industry field. You have put all your effort into becoming a great designer, florist, mortgage broker, or whatever your field is, and your focus has been on providing an extraordinary service that people will tell their friends about. Your business has grown, mainly on the basis of the referrals you have been given by your satisfied clients. But somehow, it isn’t enough.
KEEPING UP It is often difficult to make ends meet when times are slow. Especially when the business just down the road offers great service too, and they offer cheaper prices. Many established business owners have never been taught about marketing
PAIN? LOWER ENERGY? NOT SLEEPING WELL?
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56 JULY | AUGUST 2017
Dr Johannes
Maehrlein, Osteopath Member of COCA
Elizabeth
Humphries, Myotherapist
Advanced member of MMA 127562i206
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