Fundamental Strategic Marketing Mistakes to Avoid

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 by: Lee Traupel

This is a pretty tough global economy and it is critical
for a company to leverage every bit of their marketing resources. So,
if this is the case, why are so many companies shooting themselves in
the proverbial foot by breaking some of the most fundamental rules of
marketing? It's a very simple question with complex answers - here are
some of the pitfalls to avoid:

1) Believing a second rate web site communicates
integrity: So many web sites are just plain funky looking (graphics,
text, menus, etc.) - nice professional term, but it's descriptive of
some of the dreck that passes for web site design. A company should not
forget that perception is reality on the web and people aren't going to
do business with a company that can't field a decent web site - end of
story!

2) Deploying a marketing strategy that's all over the
map: Is Yahoo a Search Engine, a Portal or a Hollywood Media company?
They are the classic 3D hologram advertisement for a company that can't
figure out what it wants to be when it grows up. A company must pick a
marketing strategy and then stay the course - changing direction every
time the wind shifts is not a good business strategy and creates more
motion than action.

3) Forgetting real brand development: Branding became
the ".com" rallying cry for every newby wet behind the ears with an
Internet dream to become a billionaire by selling dog food on the web
(I'll leave the sock puppet out of this) - we all know this didn't
work. But that does not mean a company should ignore brand development
- it's important to remember that a good brand is built one marketing
process at a time; everything that a company publishes, develops or
communicate is part of the brand building process, which in turn
defines the company's market position.

4) Ignoring distribution channels by selling direct via
an ecommerce web site: A company should not build and launch an
ecommerce site and start selling direct to customers and forget about a
distribution channel. It's imperative to give the customer the choice
to buy direct from your company or locate a distribution channel
partner via a look up capability on the site. And, if you really want
to win the hearts and mind of a channel never sell below retail (SRP) -
and afford the channel the opportunity to discount your product so they
can compete effectively with you.

5) Making competitive analysis a low priority: Too many
companies forget about their competitors after the business plan has
been written. They don't take the time to review them on a periodic
basis and try and figure out how to deliver goods and services
differently, which in turn drives competitive advantage and a long-term
sustainable business model.

6) Poorly thought out Investor Relations press release:
Do companies actually think investors are just plain stupid and don't
really read an IR (Investor Relations) directed Press Release
carefully? Investors are typically very bottom line oriented - they
want to know about revenue growth and real strategic partnership
developments that help the company grow and not much else. Just
throwing fluff out in the market and hoping this will drive investors
to invest is just plain shortsighted stupidity.

7) Thinking any/all consultants know your business
better than you: Reporters and consultants (including this one) have
driven just as many companies into the ground with bad advice as much
as they have helped them - companies must realize a consultant is
typically not down in the trenches and they can make some bad calls -
it's important to filter their advice.

8) Letting the inmates run the asylum - customers
should help a company refine its product marketing strategy by working
as partners. If engineering tells marketing "the customer doesn't
really know what they want but we do" the red lights should start
flashing danger - the company may be in serious peril and at the very
least need new focus and direction for product marketing.

About the Author

Lee Traupel has 20 plus years of marketing experience - he is the founder of Intelective Communications, Inc. http://www.intelective.com a marketing services company which provides strategic and tactical marketing services exclusively to small to medium sized companies. Lee@intelective.com Reprinted with permission from Intelective Communications - this article may be reprinted freely, provided this attribution box remains intact. (c) 2001-2002 by Intelective Communications, Inc.

Lee@intelective.com

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