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The Profit Frog
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Clarkey, post: 44505 wrote:
In my current role I have the privilege of seeing both national/ state campaigns and local area marketing events.
Our store is part of a national group, but each store is independantly owned with a deliberate local area focus.

My observations of success failure can be loosely based on the following:

Poor timing: It seems that if customers aren’t in a buying mood, or its not a relevant season etc, then no matter how strong the offer it won’t fire.
Poor offer: Failing to understand what is also available in the marketplace can quickly dimish the impact of your offer (sometimes lack of research, sometimes just trumped by the opposition)
Failing to externally review the offer: We can often be so close to the business / product that we fail to look at the offer from a customers point of view. We might know its a great deal due to our knowledge of whats available, but if a customer does not have that knowledge, what will they think of it.
Failing to understand where your customers come from No good spending money on radio etc, if most of your customers come from drive by’s….

In terms of cost…. getting it wrong can have a big impact. Depending on operating margins. In our industry you need to generate 20 times the expense to make it pay back. This is mostly impossible, so almost all marketing events / promos are considered just one part of an overall business plan aimed at achieving the full year results. Hoping that if we do the right thing in an event, then customers returning at a later date will repay the expense.

In terms of customer expectation ….. getting it wrong can be bad in that they first don’t buy if your promotion does not become reality in its execution, but they are unlikely to return due to the potential trust being broken. Or worse, they tell lots of people about it and you lose them also!!

Unfortunately marketing is an extremely inexact science.
So I would be keen to understand what measurements of success people use when reviewing their own marketing campaigns. Is it purely sales growth? New customer numbers? Specific product sales? Traffic/visitation count?

Thanks for taking the time to respond.
Wondering if you have had any specific experiences to relate?
It may have been something that impacted a business you worked for, not necessarily your own small business.
I’m looking to understand how marketing decisions can impact when they go wrong.
No confidential detail at all… just more specific idea about what happened etc.
Terri
The Profit Frog.