I noticed many companies are now pushing hard for their monetisation strategy via marketing way. The marketing team, whether they are an outsourced party or an internal one, is given a huge task to make it happen. Clear instructions are given and decent money is allocated, hoping for the results to come. Usually, what will happen is the opposite. Money was spent, but no result.
Why?
The reasons are varied however these three fundamental things are among the obvious ones.
- The customers do not understand how the company is relevant to them.
- The company’s products do not offer compelling reasons why the customers should either buy them instead of the present brand they’ve been buying all along or why they should change their present behaviour to accommodate the company’s product.
- The company has weak follow-through strategies, processes, executions and talent to manage the leads coming their way.
These are the top three fundamental reasons I personally observed why some marketing gigs failed to produce results. It’s not really the marketing I would say, but perhaps more towards the business direction that’s not clear enough. Instead of 100 per cent blaming the marketing team or the agencies hired, perhaps these companies’ stakeholders should point the fingers at themselves too for the failure.
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