Marketing creates the identity of most businesses. Your business will cease to exist if you don’t have an effective marketing campaign to promote your business.
However, as entrepreneurs, you have to be aware that the marketing process is not a stand alone process. Some businesses fail to create an effective marketing campaign not because they don’t have what it takes, but because they fail to look at other internal factors that could be affecting their marketing processes.
Here are some internal business pitfalls, you never know could actually cripple your marketing process.
Unable To Provide Adequate Financial Support
If marketing builds the identity of your business, capital or financing is the lifeblood. According to a study of SBA, over 20% of newly set up businesses in 2014 failed to survive after a year of starting up.
One of the common reasons why new establishments fail without even having a fair chance for success is because they were unable to anticipate their financial needs. Your marketing campaign could not successfully run unless you can provide adequate financial support.
These days, everything is moving in a fast-paced. Your competitors never stop improving their marketing tactics to drive more consumers. If you want to remain competitive, you should spend money to amp up your marketing campaign as well. Invest in marketing research and new marketing strategies which can provide you with a greater chance to gain a competitive advantage over your competitors.
It may seem counterintuitive, but investing money in promising marketing research can actually lead you to better sales and revenue later on. Now that’s what we call good marketing ROI.
Poor Employee-Employer Relationship
Your employees are as important as your consumers. They are an important element in your marketing campaign. Behind an effective marketing process is an empowered team that is the brain of your campaign. You cannot explore the full potential of your campaign unless your team is there to support you.
If you have a poor relationship with employees can lead to marketing mistakes and errors, delay in tasks and worse, an increase in employee turnover. The negativity surrounding your relationship with your employees has a negative effect on your campaign. It can result in improper handling of important marketing projects which can cripple the whole capacity of the company to create a positive image to the society.
Practicing some employee advocacy programs within your company will not only help your employees grow, but it can also encourage innovation and improvement in your business strategy.
Lack or Poor Organization Structure
The organization structure of your company is the backbone of the business. It can provide you with the sense of leadership and responsibility. Everyone involved in the operation of your company should have a clear sight of his/her responsibilities. The lack of organizational structures can lead to poor communication which can affect performance in meeting your company’s marketing objectives.
In the retail industry, for example, lack of organizational structures can lead to overlapping of responsibility and lack of clarity on the obligations of one another. These issues, if not resolve, can lead to an ineffective campaign. It is crucial to build an organizational structure so you can streamline the process of marketing; from promotions and sales to delivery and customer support.
The same with other disciplines, having a clear organizational structure can streamline your process for a successful marketing campaign and effective business operations.
Behind every successful marketing campaign are other fundamental business factors that fuel the whole marketing process. You need to be fully committed to every aspect of your business to build an effective marketing strategy that drives business success.
So unless you learn how to minimize or eliminate these business factors mistakes only then your marketing efforts will work effectively.