Why Typical Marketing Fails Businesses | Reasons Your Marketing Fails | Why Fails Your Business
#businessfailure #marketing #business
Why Typical Marketing Fails Businesses | Reasons Your Marketing Fails | Why Fails Your Business
Summary:
Shaun from Blue Cow Marketing discusses why traditional marketing approaches often fail for businesses. He emphasizes the importance of having a structured marketing system and highlights the typical customer lifecycle:
1. Sources of Traffic: These are the mediums through which potential customers discover a business. They can come from social media ads, Google searches, physical ads, or even networking events.
2. Stages in Business:
Visitors: Individuals who land on your website.
Leads: People who show potential interest in what a business offers.
Customers: Those who make a purchase.
Fans: Loyal customers who might refer others.
He mentions the common pitfalls businesses fall into, such as not having a structured follow-up system after generating leads, not effectively converting those leads into customers, and neglecting the fans.
The importance of a structured follow-up system is emphasized. Statistics suggest that it takes about 7-12 contact points to convert a lead into a customer. However, most businesses give up after just 2-3 attempts.
He also introduces the concept of Lifecycle Automation:
Collecting Leads: This can be done using techniques like lead magnets, which offer value in exchange for contact information.
Converting to Clients: This involves nurturing leads to convert them into paying customers.
Creating Fans: After someone becomes a customer, businesses should focus on making them loyal fans.
Shaun advocates for a continuous, looping system where satisfied customers (fans) refer others, leading to a sustainable growth cycle for the business.
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