It’s the new year, and everybody is telling you how to improve something about your business in 2024. Marketing agencies are likely at the top of the list of organizations you’re hearing from, and you’ve undoubtedly seen dozens of improvement tips already.
The tips you’re getting are probably not transformative. Well, not for your company anyway. And you may have heard these tips before. These “recommendations” may even be confusing or contradictory – and coming from the same source(s). Advice telling you that everything works and is exactly what you need to do in 2024 to succeed is nonsense.
I’m hoping this article will help you at least a bit more than those “tips” do. If it doesn’t, please set up a 30-minute complimentary consultation and I will provide some solid guidance specific to your business. That’s a promise, but let’s see if I can’t give you some help before you set that meeting up. And, why wouldn’t you set up a meeting to get some marketing advice and assistance for free??
Three Frequently Overlooked Marketing Issues and How to Fix Them
Improve the Sales and Marketing Alignment
Sales and marketing are always blaming each other for lackluster results. And it’s possible that they are both right. Marketing and Sales processes and metrics need to be tightly aligned or they can work against each other. Marketing tactics should feed data into the sales process, and the sales efforts should feed data back to the marketing process.
Focus on Customer Lifetime Value (CLV) Not Leads
Every company runs the risk of being so focused on growing leads and closing sales that the they overlook issues with the existing customer base. Is the Lifetime Value of your average customer increasing? How is your churn rate? To increase CLV and decrease churn, determine why customers buy from you and why they stop buying from you. And then start paying greater attention to your existing customers. Ignore them, and they will go away.
Hire the Talent You Need Based on Their Expertise, Not Their Salary Request
I get it. Every company wants to hire talent at the lowest cost possible. But hiring someone because they are willing to work at the salary you have set instead of setting a salary that will attract the talent you need is a mistake. Paying below the industry salary range will result in hiring a poorly qualified employee, an employee who is looking to enhance their resume and will stay for 18 months at most, or both. Hire the talent you need. Work with the professionals who will get the results you want. That strategy will pay for itself. If you cannot afford the salary you need to pay, consider bringing in a well-qualified consultant or fractional resource.
There are other things that would help improve your marketing results, but these three are very common, frequently overlooked, and they all reduce the results you will see.
Would you like to know what else you should look at or how to determine why your results are disappointing? Set up that free consultation. It’s really free and there is no sales pitch or inbox spamming associated with it. That’s a promise.