Marketing Basics

What is “Good” Marketing, and How Do You Know if Yours is Good or Bad?

What kind of marketing does your business do? How do you decide where to spend your marketing budget? How do you know if your marketing is effective?

In this article, we’ll go back to the marketing basics and talk about how to tell if your marketing is good or bad. We’ll also share some impactful things that you can do right now to improve it.

What is “Good” Marketing?

Good marketing is any activity that brings in more business than it costs you. 

When you do marketing right, it can improve every aspect of your business, from your processes to your values.

However, marketing is about more than just getting new leads and customers. When you do marketing right, it can improve every aspect of your business, from your processes to your values. As you set your priorities for your marketing, you have to make decisions about what you offer, which niche(s) to target, how to interact with your customers, what roles you need to fill in your company to meet your customer’s needs, what products and services you don't offer, and much more. 

Marketing helps you clarify your value proposition, which improves your entire business. 

The 3 Biggest Marketing Mistakes You’re Making

People who aren’t doing good marketing make two big mistakes:

  1. They see marketing as an expense rather than an investment
  2. They throw money at random things and call it marketing
  3. They don’t know where their new customers are coming from

Marketing is an Investment

When you view marketing as an expense, you’re more likely to put it in the hands of someone who isn’t trained or experienced in it. Sure, your daughter’s friend knows how to publish a Facebook post, but is she really the best person to direct your company’s messaging and get you a return on your investment?

If you don’t have a marketing strategy or an understanding of why you’re spending your marketing dollars in a certain way, then it’s likely that your marketing won’t be bringing in more business than it costs. In that case, you’re wasting money and it’s understandable that you would see it as another expense. 

Don’t Throw Money at Random Things

You probably feel pressure to market your company, but that doesn’t mean that you should just copy what other people are doing. Just because Facebook ads work for your dentists doesn't mean they’re the best place to put your dollars. 

Don’t do marketing just because you feel like you need to. When you throw your money at a random thing without a plan, you’re likely to waste it. 

Don’t do marketing just because you feel like you need to. When you throw your money at a random thing without a plan, you’re likely to waste it.

Figure Out Where Your Customers Are Coming From

We’ve asked many small business owners where they get leads. The majority tell us that they get new leads through word of mouth and referrals. However, very few have a formal referral program.

If you don’t have a targeted referral program to actively cultivate new leads, then you’re leaving the future of your business to chance. And while referrals are a great way to get new business, they’re only one way. There’s a lot more than you can be doing to get your customer’s attention. 

Why You Need to Understand Your Marketing Strategy

You probably aren’t the one creating the social media posts or ads for your business, and you don’t necessarily have to be. BUT, you should understand your marketing strategy. You need to know where and why you’re spending money in certain ways. 

If you’re spending ad money on Angie’s List and Home Advisor, you don’t have to be the one who writes the ad copy or publishes the ad, but you should understand how to measure if the ads are working. When the person who makes the ad throws performance data and metrics at you, you need to be able to determine if the money was well spent or not, and then make a strategic decision about future marketing spending. 

For example, it sounds neat that 1000 people saw your ad on Angie’s List, but if none of them become paying customers, then it was not an effective use of your money. 

However, if only 50 people clicked on your Home Advisor ad and 10% of them are now under contract with you, then that was effective marketing. When you know what data actually matters to you, you use it to decide whether you should change your Angie’s List ad copy and run it again, or pull the ad and put those dollars toward your Home Advisor ad.

If you don’t understand your strategy or what metrics matter to you, you may be swayed into putting more money into Angie’s List because more people saw the ad. But does that metric really matter, or do you care more about income? We have a suspicion that income matters more to you (as it should!). Unfortunately, many small businesses don’t track the right metrics, which leads to ineffective marketing. 

70% of Prospecting is Choosing the Right Audience

Imagine that you really want orange juice, and right in front of you, there’s an orange tree and an apple tree. Which tree will yield more orange juice? It’s obvious that no matter how amazing you are at juicing, you’ll never get orange juice from the apple tree. 

What does that mean in terms of your marketing? It means that no matter how good your messaging is, if you’re targeting it at the wrong audience, it’ll never convert to sales for you. 

It means that no matter how good your messaging is, if you’re targeting it at the wrong audience, it’ll never convert to sales for you.

Before you create marketing materials and choose where to place your ads, put yourself in your customer’s shoes. What challenges are they facing? What conversations are they having in their own head about their problems? Empathy helps you figure out whose problem you’ll solve and what messaging will resonate with them. 

For example, an ad about getting a new kitchen before your family comes over for Thanksgiving will not resonate with college students who don’t own a home. 

Something You Can Actually Go Do

You can improve your marketing today by doing three simple things:

1. Identify Your Target Customer

Who is your ideal customer? What are they like? 

2. Figure Out What They Care About

Listen carefully to prospective customers when they tell you what problem they’re trying to solve with you. Are they worried about their stairs being too steep for their elderly parents? Are they concerned that their children will hurt themselves on the uneven pool deck? Do they want a beautiful backyard where their loved ones can gather and create memories?

3. Write Down Your Unique Selling Proposition

What sets you apart from your competition when it comes to meeting your customer’s needs? Write it out so that you can clearly articulate it for future customers and in your marketing materials. 

Good Marketing Can Transform Your Business

Before you throw another dollar at something that you don’t understand, take a step back and try to really understand your customer. If you know what they want and how you solve that, then your marketing strategy is already lightyears ahead of other business owners.

We know that you have a lot on your plate with managing the day-to-day operations of your business. If you’d like to talk about growing your business with Benali, then schedule a Free Growth Assessment with our team.

Create a clear, strategic marketing plan that works
Schedule your free Growth Assessment today
Read More Articles About

Marketing Basics

114 W Main Street,Suite 4
Norman, OK 73069
©2021 Benali. All Rights Reserved.