All marketing text books put emphasizes on the importance of properly planed marketing program prior to any implementation. However, in reality, most businesses rush into carrying out marketing tactics without clearly articulated marketing strategy or a plan.
How does reactive approach to marketing affect business performance? What are the most common trends that we see in B2B environment?
Wrong Messaging – To be successful, your messaging must address key target market problems through product benefits and show your credibility and expertise in resolving these problems. Note: it is not about what you think your market needs, it is about the actual pain points that customers have. Without a deep understanding of your target market, it is virtually impossible to build an effective message. If it is sending the wrong or sub-optimal marketing message, sending the message to the wrong audience or using the wrong medium to convey it; companies are bound to get a low marketing ROI without extensive research.
Weak Positioning - Effective positioning is one of the main sources of differentiation that helps your brand to find a unique place in the minds of your target market. What if a competitor already owns this market position? In this case your company does not gain any benefits of competitive differentiation, loses its advantages in the eyes of customers and risks getting into price wars. Understanding your competitive environment is crucial, thus, collecting competitive intelligence and incorporating it into your marketing engagements is a must.
There are numerous other common trends of reactive and poorly planned marketing programs, such as brand inconsistency and marketing efficiency, all of which supports that “it pays when you do your homework in advance.”