Following on from yesterdays marketing tip, a number of readers have asked me the same question:
“Why do so many people do the same type of marketing, if it doesn’t work?”
Here’s the answer. Amateur marketers will copy what they see others doing, wrongly assuming that it must be working. This then gets more and more people repeating the same ineffective marketing, which encourages even more people to do the same, etc. In other words, they copy what they see the crowd doing.
Here’s why this is a really bad idea for your business…
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Which are you better at: Marketing your services or servicing your market?
I have lost count of how many outstanding businesses I have seen go broke, simply because they failed to market their services correctly. They enjoy superb customer retention, because their services are so good that people just don’t want to leave.
However, because they win too few new customers, their revenues and profits stagnate and if they do lose a big account or have a large, unscheduled financial commitment pop up, they can suddenly be running at a loss. If that loss goes on too long, they are in deep trouble. If only they adopted better marketing, they could achieve great things…
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