How to understand that your business's current marketing system is not working
Checklist of 15 points
To understand whether the marketing system is working at your enterprise, you need to first ensure that such a system exists.
What is the marketing system of the enterprise?
It is a combination of marketing tools that facilitate communication with potential and existing clients of your company, informing them that your product best satisfies their specific needs.
The complexity levels of the enterprise's marketing system depend on various factors:
1 Time in the market.
2 Company turnover.
3 Sales geography.
4 Management's level of thinking.
5 Presence or absence of a data-driven approach.
6 Market competition level.
7 Product's life cycle stage.
8 Level of technological equipment of the enterprise.
9 Economic and social situations in the region.
In other words, marketing organization in a company can be conditionally divided into 3 types:
1 No marketing system.
2 Partially present marketing system.
3 Complete marketing system.
Let's consider each of the cases:
No marketing system
This means that the company's marketing does not generate leads/customers on a regular basis using marketing communication channels.
For example, if customers come to you because they were recommended by acquaintances, it's not marketing.
If you have a website, but it doesn't bring in customers — that's not marketing.
If you produce a product or service but don't know for whom and how to sell it, that's not marketing.
Partially present marketing system
In this case, your marketing generates leads/customers, but not on a regular basis. Signs of partially functioning marketing:
Customers come to you, but you don't know where from.
You have a website, but you don't know how it is promoted.
Marketing activities occur sporadically, only when "there are few customers."
Complete marketing system
Lead generation/customer acquisition happens regularly. You clearly understand the origin of each specific lead. You know your competitors, customers, and the market situation. Furthermore, you keep track of industry innovations and apply them before competing companies do. You can easily forecast sales volume next month based on accumulated statistics. You understand the importance of various marketing specialists, their contribution to the company's overall success and development.
Based on this checklist, a non-functional marketing system in a company includes:
No new customers coming in.
If new customers are coming in, you don't know where they are coming from.
You don't know the conversion between traffic and leads/customers.
You don't understand the effectiveness of your marketing expenses.
Likewise, you lack a marketing strategy.
You don't know the traffic of your top five competitors.
You cannot summarize in one sentence what makes you better than your competitors.
You only think about marketing when demand for your product decreases.
You don't have a CRM system.
Not only that, but you believe that social media is only for collecting likes.
You haven't installed Google Analytics tracking code.
You don't know who has access passwords to your website's hosting.
Your website lacks a Facebook pixel, but you use targeting.
You consider marketing as expenses rather than investments.
You don't have a marketer/marketing department or a marketing agency as a contractor.
If you see yourself in more than half of the checklist points, fill out an application, and we will provide you with a consultation. While you're not engaged in marketing, your competitors are already doing it successfully.