SOLVED: 5 Major Challenges in Marketing Your Business
Redefining the way business owners think about marketing is the key to growing your business. Marketing is not an add-on to your business. It is the lifeblood of your business.
I can go as far as saying, if you are not investing your time and efforts into marketing, then you are not serious about your business.
So If you’re reading this and you think marketing is not essential for your business, then this one isn’t for you.
On the other hand, continue reading to see the most crippling challenges businesses face when they market themselves, and how you can overcome them.
Challenge 1: Predictable Flow of New Customers
According to Hubspot, the number ONE challenge for marketers in 2020 is to generate new business. And that is the number one challenge for MARKETERS, not business owners.
You might be thinking, should this not be easier than ever before, with our ability to reach people at scale in the 21st century? It’s as simple as creating advertising on social media platforms and reach a vast, broad audience.
What you might not be thinking, though, is the fact that the more people you try to reach out to, the more diluted your message and value proposition will become. If you decide to target everyone, you will target no one.
And then how do you take this information and build a system which predictably gets you, new customers?
- Identify your target audience: You need to identify and then hunt your ideal buyer. Use this guide to find your business’ ideal customers in under 60 minutes.
- Use Digital Marketing: Don’t know where to start? Check out this resource on the top 5 ways to start growing your business using digital marketing activities.
Challenge 2: Managing & Maintaining Your Website & Online Presence
Building and managing a website has never been easier. It’s also never been as crucial as it is today. It’s your first impression, it’s your greeting, it’s your introduction, and it’s your identity.
Regardless, many businesses still make the mistake of ignoring their website while focusing on other aspects of their business and marketing efforts. This comes as a huge surprise because building and maintaining a sharp website in today’s age is simple with tools that are intuitive and very easy to set up.
Here are some of the best website builders out there:
If you haven’t invested your resources in building a great website, it’s not too late. Get started today, and in as little as a few hours, you can have a website up and running.
Flashback: Not investing in a good website is one of the eight common mistakes businesses make. Read here to see what the other seven most common business mistakes are.
Challenge 3: Measuring the ROI from Your Marketing Activities (Are you shooting in the dark?)
You’ve got a Christmas promotion which you advertise on Social media. You get lots of sales. When you are assessing the effectiveness of your advertising, you have no idea whether it was your social media promotion on Facebook or Google, which increased sales.
This is the reality many businesses face. In fact, half of the prospective customers we speak to have in one way or another invested in marketing activities but stopped them right after.
They may have spent $500 on their advertising on social media, but when it comes to reviewing the performance of the campaign, they have no idea how many sales were generated through the campaign.
In most cases, that will be the last time they try a digital marketing campaign. And funny enough, this happens to be one of the biggest challenges for marketers year-over-year.
So how do you fix it?
- We’ve created a FREE resource that is perfect for business owners who want to set up a system to track the effectiveness of their marketing efforts. Click here to check it out.
Challenge 4: Getting the RIGHT help
It’s Friday afternoon, and your employees have gone home. It’s time to work ON your Business instead of IN your business. You are determined to make your marketing efforts work, and you realize you need help.
So what do you do?
Step 1: Open your browser
Step 2: Go to Google.com
Step 3: Search for Marketing Agencies in Toronto.
Step 4: INFORMATION OVERLOAD
Future generations will likely remember the early 21st century as the era of information overload.
There is literally so much information online, and you have no idea what is right? Or what information is the best for your business needs? Or which agency has the highest chance of success. After all, you only have the budget to hire one agency, and they need to make it work, or your business might go under.
So how do you make sure that the help you get is the right help?
Free Resources – The internet is full of a plethora of free information. This blog post you are reading right now falls into this category. And if you’re reading this then I highly recommend you check out the following free resources to help you get started:
My Favourite: https://neilpatel.com/
So who is Neil Patel?
He is a New York Times Bestselling author. The Wall Street Journal calls him a top influencer on the web, Forbes says he is one of the top 10 marketers, and Entrepreneur Magazine says he created one of the 100 most brilliant companies. He was recognized as a top 100 entrepreneur under the age of 30 by President Obama and a top 100 entrepreneur under the age of 35 by the United Nations.
And he has some of the most COMPLETE free resources for marketing your business.
My Second Favourite: https://www.hubspot.com/
Hubspot is a marketing and sales software solution and also happens to be one of the leaders when it comes to providing FREE resources to business owners around the globe. If you see something on Hubspot, take it and apply it right away. They are rarely WRONG with their advice.
Okay, enough with the free resources. If you know you need help, and you don’t have the time to do it yourself. You should hire an agency.
Here are some of the main things to fact check before deciding to go with a marketing agency:
- If the agency claims something that seems too good to be true, then it probably is. Run away as fast as you can!
- Check the agency’s website and check out the owners of the agency. A great place to start is their LinkedIn profiles.
- See who else they’ve worked with. Good agencies showcase their clients and are more than happy to let you speak with their current or past clients.
- Ask them the most difficult questions when it comes to marketing your business. Good agencies will say the right things, manage expectations, and also provide value upfront, even before you sign up with them.
Need help with your marketing? Schedule a strategy call with us here.
Challenge 5: Lack of a Marketing Budget
Out of the many challenges we’ve explored before writing this blog post, this one had to be in it. Look, whether you are a business that just started or a business which has been running for a few years, budget & cashflow always seems to be an issue.
Most business owners, when faced with budget-related adversities, go into hiding and pull their marketing budgets. On the surface, this is smart, but in reality, it can be a fatal mistake.
Let’s say your business is struggling and finding it challenging to keep up with overhead costs. Coupled with high client turnover or a lack of new customers, what do you do?
Try to save money! Great.
Saving money is an immediate step you should take, but many people forget that the only REAL way to pull yourself out of that hole is to acquire new customers. And marketing is your path to [email protected] new customers.
Now I am not saying to double down and spend more on marketing. It’s possible to conduct marketing on a budget.
- LinkedIn personal outreach: It’s free to connect with people in LinkedIn and send them a message to connect
- Social Media Advertising: Platforms like Facebook offer the opportunity to market to a broad, highly-targeted audience at a fraction of the cost.
- Read this Free Resource: How to Make Your Business More Successful without spending a dime.
Even if you’re really busy. Or maybe your business is doing well. And also, if you feel like you are alone in the struggle. Know that most businesses face the same challenges when it comes to marketing their company.
The good news is, today more than ever, the resources, tools, and help on hand is in abundance. Use these resources to get the confidence to grow out of your comfort zone and reach new business heights through overcoming your marketing challenges.
Liked what you read?
Orion helps businesses achieve exponential growth through digital marketing activities.
We use a proven, battle-tested system to predictably generate high-quality leads and keep your sales pipeline full with wallet-out, ready-to-buy customers.
If you’re interested to see how we can do the same for your business, sign up for a FREE strategy call. It’s 30 minutes with no obligations and we will show you exactly how our system can help your business grow!