Marketing Information

The 7 Areas of Marketing Waste - Are You Committing These Marketing Sins?


If you want to reduce waste and grow your business it can be useful to know where to look. Marketing waste is usually most apparent in these 7 key areas:

1. Activity (over production)

2. People (over capacity)

3. Processes (over complication)

4. Waiting (poor communication)

5. Excessive Communication Costs

6. Trial and Error

7. Excessive Lead Costs

1. Activity (over production)

Too many people doing too many different things. Thousands of brochures produced with no clear plan how to get them in the right hands. Twenty different networking meetings on the horizon, with no time to follow up.

Over production and too much activity is usually a symptom of poor planning. You're not quite sure what you aim to achieve, but there is budget (or time) to spend and any marketing activity is seen as good activity.

Performing lots of different marketing activities without first having a clear vision and strategy in place is a massive area of waste. Your business may perform well as a result of so much effort (and cost), but how do you know what is working and what isn't?

Measuring ROI on activity is essential. This will enable you to focus more effectively on the successful activity and completely remove the need for unsuccessful or wasteful marketing approaches to free up capital as profit or to fund other business improvement initiatives.

2. People (over / under capacity)

Too many people involved in the marketing process can also be a big area of waste. In particular, full time marketing managers can waste a lot of time choosing where to spend your money on promotion.

The marketing director or CEO needs to be able to enlist good marketing advice and planning as it is needed and then allow experts outside the company to implement the necessary action. There is no need for an internal marketing manager to oversee this if you use the right marketing consultants. By carefully retaining the services of a marketing consultancy you can gain access to a range of experience that no single individual can ever hope to possess. You can then recruit a more junior but bright person from within your company to liaise with your consultants and yourself.

You can never truly know if your marketing manager is working at full steam and I'm certain that they won't tell you unless they want more budget to spend on the next CV enhancing fad.

If you are a marketing manager reading this, be honest, maybe you should talk to your boss about a more flexible retained position. This way you can look for other contracts and build your exposure to more businesses which will enhance your ability to perform well.

If you're a solo or very small business, then the "people" doing your marketing may be just you and you may be suffering from a serious lack of capacity. There comes a time when your lack of time causes waste for your business and holds you back. You must seriously look at the skills gap and address the needs of your business (and your sanity!).

3. Processes (over complication)

Lean Manufacturing (where we learned our trade) deals with the process of moving an order through your supply chain and to your customer. In this instance we're talking about the marketing process - this deals with acquiring the customer in the first place and how you handle your customers once you have them. For this we use the Lean Marketing Pipeline - would you like a copy? Just send an email to: leanpipeline@aweber.com with "Send Me The Pipeline - I'm Missing Out!" in the subject line and we'll send you a picture.

To understand your present state you need to map the processes of communication, customer acquisition, customer processing and customer relationships. Then you need to make sure that there are no non-value adding activities. This will enable you to eliminate steps in the process that have literally become bad habits. We have a module called Moments Of Truth in our Toolbooks series, that deals thoroughly with this issue.

Getting your sales and marketing process right will enable you to reduce the cost of gaining new business, dealing with your customers and upselling new services and products.

Other important things to include when refining your processes are measurement tools. Once you begin to measure success against strategic key performance indicators you will have the information to continuously improve and reduce waste even further. If your customer facing processes work well you will also find that customer satisfaction will improve.

4. Waiting (poor communication)

An over hierarchical communication structure can make it very difficult to take action quickly. This lack of flexibility can cause waste in the form of missed opportunities and unnecessary inaction. If the people responsible for implementing marketing for your business are inactive then you are wasting money. We're not just talking about the hierarchy in your business (you may not have one) - we're talking about the hierarchies in your marketing consultancy, web developers or ad agency.

If you see marketing as a fundamental part of your business then waiting is rarely a problem. If the CEO or board view marketing as separate from the business, then lower priority will be given to spending and decision making in this area.

Changing communication policy or empowering people closer to your marketing activity with limited (and accountable) financial independence will help to overcome this problem.

5. Excessive Communication Costs

Traditional methods of communication - mail / fax / phone / in-person are relatively expensive, and though still essential, need to be mixed with other more cost effective methods. The Internet is a powerful way to reduce communication costs, but still far too few businesses embrace it as such.

Let's say that you produce a monthly printed newsletter for your customers. This will involve cost at the following stages: design; copywriting; editing; printing; packing; distribution. Now imagine the same idea using email. The cost areas are: design; copywriting; editing; distribution. Firstly, there are fewer steps (less time) in the email process, but when you look at the steps that are omitted you'll also find that they are the costs that escalate (stamps, envelopes, printing) as you communicate to a growing audience.

How many times do your people get asked the same questions? Every time they answer a frequently asked question they are performing a duty that does not add value but can't be ignored. Simply using your website to provide general advice and FAQs (Frequently Asked Questions) could reduce your costs (Freephone support line) and free up your people's time to perform more productive, value added duties.

I'm wondering if... You Know Other People who should be reading this too? So do us all a favour (they get 2 free books - we get a new subscriber - you get to look good) when you Pass On This link... http://www.leanmarketing.co.uk

6. Trial and Error

Trial and error is the inherent waste involved in all marketing. But simply accepting this fact is not good enough. There are ways to reduce the guesswork as well as reducing the cost of targeting and increasing conversions.

The biggest failing of most traditional marketing promotion is that it relies on interrupting people when they aren't necessarily looking for the product or service you have to offer. Just think what happens when you are watching your favourite TV show; the advertisements are a useful break to make a cup of tea or go to the toilet. They aren't providing something you were actively looking for by watching TV.

Advertisements in glossy magazines interrupt you when you're in the middle of an article. They may improve your awareness of a product or service but you'll rarely welcome the opportunity to read them - you'll ignore them! The bits of paper and advertisements that are shoved into magazines and Sunday newspapers are also wasteful. If you're like me then I bet you simply shake the magazine until all of the annoying bits fall out and then throw them in the bin.

You need to find places and procedures for attracting people to look for your solution and find you without interrupting them. A correctly designed and marketed website is the ideal solution.

7. Excessive Lead Costs

What do you currently have to do to find new leads? If you're in B2C then list brokers are useful, but as soon as you buy a list you're well aware that the information will be out of date (instant waste). So you pay for your own people or a telesales agency to clean the list. Then you may only get one shot at this list before you pay again. See the problem?

B2B businesses should almost never buy lists. The Internet has opened up a whole range of opportunities for finding information to build your own database.

Every other element of waste involved in promotion (especially trial and error interruptive marketing) is wasting money. You need to look at the important elements of a process and remove the unnecessary. Then with what's left, ask yourself, "How can we do the same thing cheaper?"

Reducing lead cost can also be achieved by selling more to your existing customers and building referral streams.

Before you make assumptions you'll need to measure. There are plenty of people who don't even know how much each lead costs or more importantly how this can be calculated.

So, how many ways can you see for reducing the waste in your marketing? Why not spend a few minutes now to consider how the 7 areas of waste are affecting you?"

Speak Soon,

'Dangerous' Debbie Jenkins
debs@debbiejenkins.com

(c) Copyright 2005 www.BookShaker.com

SUMMER CAN BE SLOW FOR BUSINESS
But don't let that get in the way of your success.
This is the ideal time to work on your business
rather than in it. Get 2 F'REE eBooks and prepare
for more success with less effort here...
http://www.leanmarketing.co.uk

I'm wondering if... You Know Other People who should be reading this too? So do us all a favour (they get 2 free books - we get a new subscriber - you get to look good) when you Pass On This link... http://www.leanmarketing.co.uk


MORE RESOURCES:
Business:Marketing Articles from EzineArticles.com
04/06/2021 11:43 AM
Backlinks - What Are They and How To Use Them
The way to get the attention of search engines, and get them to see you as a relevant site, can be done a variety of ways, including backlinks. The goal is to get that URL published on as many sites as possible.
04/06/2021 11:41 AM
How to Create Blog Content to Attract Your Ideal Target Audience
If you have a blog, you know that creating fresh, valuable content is key to your overall success. By posting well-written content on a regular basis, you'll improve your search rankings and drive traffic to your business. Here are four easy steps to refresh your blog to get more qualified leads.
04/06/2021 11:38 AM
Building Better Brands
Are you effectively communicating your product or service offering? Are you appealing to the right demographic? Are you missing opportunities to catapult your brand? If you answered Yes-or even Maybe-to any of these questions, then it's time to make a commitment to better branding and marketing for your business.
04/06/2021 11:38 AM
How to Market Your Blog Articles
So, you've written a great blog article for your business and you want to share it with the world. Why not? Everyone should know about your great product or service, right? While that's certainly true, let's take a few steps first to ensure you know how to market your blog articles. After all, you wouldn't want to put so much time and effort into your blog articles and have it fall flat.
04/06/2021 11:38 AM
13 Social Media Trends and Opportunities for 2021
Everything You Need to Know About Social Media Marketing Trends Today! The social media world has exploded with activity, and social media trends of 2021 have shifted since the COVID pandemic onslaught. Sure, it's exciting, but it can also be overwhelming. You need to know how these shifts affect your business-and how to capitalize on them to improve your marketing strategy. So, we're making a foray into the digital world to help you understand the social media trends and opportunities for 2021. Let's get at it!
04/06/2021 11:33 AM
Why Is Authenticity Important in Marketing?
Today, you can find out anything online about anyone or any brand. And if you're not authentic, your customers will find out.
03/26/2021 02:16 PM
How To Show Your Business Authenticity In Your Content
Your consumers place a high value on the authenticity of your content. They like it because it shows that your products are of high value and that they can trust you.
03/24/2021 04:54 PM
Is Your Business Brand Identity Memorable Enough?
Through brand marketing, we connect the consumer's experiences and perceptions to your unique offerings. Your brand then becomes highlighted in their mind as they grow a connection to it and, ultimately, makes it much easier to convert them to loyal customers. Here are 5 High-Impact tips to creating a unique brand identity.
03/16/2021 03:13 PM
Writing to Sell Versus Writing to Communicate
Often it can be difficult to know what type of writing you need, though. It's easy to think that all writing is the same, but it's not. There is writing to communicate and writing to sell.
03/12/2021 02:03 PM
2 Tips to Implement a Better Marketing Plan for Plastic Surgeons
Since plastic surgeons can spend a fortune on new plastic surgery patient marketing, they have to be smart about it so they get the best results for the least amount of money. This article provides 2 tips to implement a better marketing plan for plastic surgeons.
03/12/2021 02:03 PM
Are You Getting the Best Results From Cosmetic Surgery Marketing?
Tracking your marketing costs compared to your response is the sure fire way to know if are you getting the best results from cosmetic surgery marketing. This article explains the best strategies for tracking your cosmetic surgery marketing results so you get the most for your money.
03/12/2021 02:03 PM
How to Make Plastic Surgery Marketing Reach More Patients
This article provides creative marketing strategies for plastic surgeons who are looking to reach more patients. In addition to traditional marketing tactics, videos, referral programs and Q&A sessions are effective tools for attracting new cosmetic patients.
03/09/2021 06:00 PM
Brosis Taring (Digital Marketing) in Jaipur
BroSis Training provides Advanced Digital Marketing Training in Jaipur. We also offer SEO, SMO, Digital Marketing, Video Marketing, Email Marketing and Website Design & Development. Digital responsibility is to manage the different key members of the Team and to bring them on one platform to fulfill the client specific requirement.
03/08/2021 08:04 AM
How To Increase Patients In A Medical Practice
Need more patients in your medical practice? Tired of struggling and need a comprehensive plan to get profitable? Here are 4 tried and true insights to increase patients in a medical practice.
03/05/2021 09:18 AM
How Online Membership Is a Win-Win for Non-Profits' Websites
More than ever, non-profit organizations need to acquire, maintain and strengthen their membership bases. But this is something that is often overlooked among a large part of the non-profit sector. Here are more benefits for non-profits who add an online membership program to their website.
03/01/2021 09:11 AM
How to Increase Customer Retention With Digital Marketing?
Customer retention is at the core of every business today. As customer acquisition continue going up, businesses have been forced to become extra creative to retain clients and sustain high sales. In one of the studies done by the U.S Small Businesses Administration and the U.S Chamber of Commerce, it was established that acquiring new clients costs up to five times compared to retaining the existing ones.
03/01/2021 09:11 AM
How Digital Marketing Can Increase Your Business by 400%
Digital marketing is the ultimate way to drive more traffic, enhance the brand image, and realize the highest conversion. Ensure to identify the best digital marketing strategies that work for the brand, track results, and implement change regularly.
03/01/2021 09:07 AM
Defining Marketing Objectives and How They Relate to the Business
Various types of products and services have various marketing objectives due to the nature of their trade. Marketing professionals have to be well verses with ways to define objectives.
03/01/2021 09:07 AM
Definitions of Marketing Communications
Marketing communications helps a company gain better visibility and awareness in the market. New brands need to focus on their communications with the market to gain more market retention.
03/01/2021 09:07 AM
Designing and Producing Content Appropriate to the Channel and Communication Objective
These days, companies advertise across various communication channels. Here are some factors that are linked with creation of successful campaigns with specific objectives.
02/19/2021 09:19 AM
How to Create an Online Marketing Plan
You can make an online marketing plan in a page or two, or you can create a page for each aspect with a step-by-step to-do list of what you will do to ensure that each part of your plan is realized. The worst thing you can do is proceed without a plan.
02/11/2021 04:52 PM
The (Un)Impressive Life of Fake Instagram Influencers
I used to be impressed when I saw someone with thousands of followers. I would think, Wow, that person must really know their stuff! Look at how many people want to learn or be entertained or inspired by them! But not so much anymore.
02/11/2021 04:49 PM
Digital Marketing Means Business Survival During COVID-19
Even during the thick of the pandemic, we saw businesses struggling to change operations enough to stay afloat. Now, the name of the game is "adapt," and we are all players trying to find out where we fit into the larger picture. Even if it means stepping out of our comfort zone, we are forced to move past the traditions we built and forward into the digital age.
02/08/2021 08:46 AM
4 Reason Why SEO Important For Your Business?
Business owners will often hear about SEO (Search Engine Optimization) and how it is one of the most important marketing techniques a business can use as it looks to make a mark in the niche. See MOZ for beginner's guide to SEO Well, there are many reasons for its importance, and it's best to understand this as soon as possible why SEO important for business. Here are some of the key reasons for why SEO is a must and should be used as a marketing tactic while pursuing new leads.
02/05/2021 11:36 AM
7 Tips MedSpas Can Follow to Increase Website Traffic
If you've built your vision of a MedSpa business, including building a nice website, you now need to increase your website traffic. Here is a 7-step tip checklist you could be doing now to start promoting your website and get those desired results.
02/05/2021 11:35 AM
How to Do Marketing With a Low Budget
Finding inexpensive ways to market your business online is a great way to get started. But even after you have a great business, you'll want to keep using these inexpensive ways to market your business.
01/27/2021 10:50 AM
How to Optimize Your Website for Local Search
It's so crucial to focus your marketing efforts on getting local website traffic if you run a store-front business or offer a service that is within a specific geographic area. There are a number of things you can do to increase your visibility and reach your target audience. To help you achieve your goals in 2021, here are seven strategies to optimize your local business website.
01/21/2021 09:03 AM
Why Is Storytelling Important in Business?
Good storytelling includes bringing facts to the table along with the extra information that brings the reader closer to the storyteller. The more a customer cares about your story, the longer they will remain customers and demonstrate brand and product loyalty.
01/19/2021 04:49 PM
Niche Business Marketing - How to Do It
Starting up a business is an easy job to do, but making it successful is challenging, especially when you're competing against several business rivals. In that case, targeting a niche market is perhaps the most successful idea you can work on.
01/19/2021 09:52 AM
Why Is Customer Centric Marketing Important?
Customer centric companies seek to show how they value the customer above all else. When customers feel appreciated they end up very loyal to the brand.
01/08/2021 11:44 AM
Initiating With Superior Improvisation of Intimacy Life
Generic Viagra has been considered as widely utilized anti- impotence remedial measure for men that has effectively created trend in the remedial measures against male impotence which disrupts with the proper functioning of men's intimacy life. This medicinal product has been clinically acclaimed by the health managers of Food & Drug Association (FDA) & thus there are increasing numbers of men who are looking forward to make use of these remedial measures for the vital functioning of their intimacy life & essentially keep away from the hazards of erectile difficulty. Such drug products are easily available in the pharmacy stores...
01/08/2021 11:37 AM
How We Rebranded, Redesigned & Redefined a Small Business
A Case Study on Innovative Sleep Solutions, Surrey, BC Our team loves helping small business owners rebrand-from bringing website redesign ideas to life to increasing engagement on social media. It's not only because we're passionate about the work, but also because we love seeing our entrepreneurs succeed. Now, I know it's almost silly to mention how challenging a year 2020 has been for small businesses.
01/06/2021 10:14 AM
How To Carve Your Lucrative Niche Market In The Middle of a Pandemic
Discover how to find lucrative but untapped niche markets in the middle of a pandemic that matches your passions, skills, and experience. Plus, discover why economic downturns are the best time to use this powerful information.
01/04/2021 01:42 PM
8 Mistakes Made Online by Business Owners
Before we go over the top mistakes made by business owners, here is a great quote: "Begin somewhere. You cannot build a reputation on what you intend to do." Liz Smith
12/28/2020 06:28 PM
What Are the Essential Elements of a Strong Brand?
Building a strong brand takes time, commitment and effort. It takes the willingness to stick to the messages for the long term and not forget what your true point of being is.
12/18/2020 08:49 AM
4 Types of Versatile Uses of High-Quality Booklet Printing
Are you planning to get some booklets printing for your creative endeavors and wondering if it is a good option or not? Read the article to know how great booklets are as versatile printed materials.
12/18/2020 08:49 AM
How to Have More Inclusive Brand Marketing-Authentically
From your website to your Instagram feed, inclusive marketing can be an integral part of your marketing strategy-but only if you're doing it authentically. Let's look at three ways to add diversity to your brand in an honest, approachable way.
12/16/2020 09:46 AM
It Is About Time to Start Marketing Your Manufacturing Business on the Internet
There are many manufacturing businesses that get most of their businesses through word-of-mouth, loyal customers as well as partnership agreements. For this reason, it is crucial to consider expanding their reach, and have a look at online marketing. Manufacturers that leverage content to promote their brand/business online succeed at drawing new potential buyers, retaining the current ones and - at the end of the day - obtaining more sales.
12/16/2020 09:46 AM
How to Combine Offline Ads With the Power of Internet for Excellent Results
When ads pop out all of a sudden on the browser windows, most online users click on them. Since this is the age of computers, how can businesses make sure that their offline ads are just as effective as their online counterpart? Following you can find a few great strategies when using offline ads: Always Add a Call to Action (CTA) Businesses have to see to it that their offline ads have a CTA and a way to track them.
12/10/2020 04:41 PM
London Event Staff for Firestone - All Points East Festival
Last month, Elpromotions Event Staffing Agency expressed its utmost excitement at being as the winning London hostess agency. It supplied promotional staff for the Firestone Europe activation at All Points East Festival, held at Victoria Park from May 25th to June 3rd.
12/10/2020 04:39 PM
Modern Ways of Promoting a Cage Nuts Manufacturing Business
Build a Strong Presence on the Web Most businesses have a website however, an online brochure may be the only thing they can offer. If their site has been like this since day one, probably, it is about time to give their website an upgrade. Every time consumers look for cage nuts manufacturers, they use search engines, which is exactly what they do for almost anything they need.
12/10/2020 04:37 PM
Tales From the Online Marketing Crypt 8 - The Inconvenient Side Effect of the Shop Local Movement
Since COVID-19 barged in on our lives, there's been a lot of rallying on social media about the #ShopLocal movement. But are you really shopping local or just supporting from the sidelines? The dilemma of supporting local: sometimes it's just not easy to do so. But it is possible for local small businesses (particularly a brick-and-mortar one) to compete.
12/10/2020 04:37 PM
Aluminum Die Casting and Zinc Die Casting Solutions Online
From aluminum die casting to zinc die casting, you will get precise solutions in real time manner from experienced professionals working in different companies. Find the right one of your choice and get precise solutions.
11/27/2020 10:42 AM
How to Have Clients Who Are Your Ardent Champions
Build good old-fashioned relationships with people! Show gratitude to those you appreciate and they will become the ones who will be your ardent champion and happily send new clients your way.
11/25/2020 02:14 PM
Vital Aspects to Determine to Thrive in Search Engine Marketing
With a consistently increasing market share as high as 72% and operating with 730 + websites, to foreign business, Baidu has been the first choice while acknowledging it as Google in the West. Similar to Google, Baidu has omnipresence in China and that demands you to have a business presence on Baidu. Regardless it's SEO or SEM, without being on Baidu, your business project will simply be at bay in no time.
11/24/2020 06:21 PM
The Bragadoccio
I'm thinking that all of a sudden boastful and arrogant behaviour is no longer acceptable. Even in marketing, we need to be cognisant of this trend. In marketing we have to know where people are, and we have to act accordingly.
11/24/2020 06:21 PM
Something About Trump
This is not a political article but rather a compare and contrast of the marketing strategies behind the Trump v Biden contest. Lets be honest this is the biggest game on the planet and as marketers and entrpreneurs we should analyse it and see what we can learn. This is my take.
11/23/2020 07:53 AM
The Bridge Between Digital Marketing and E-Commerce
Digital Marketing is a potential platform to reach and engage your target audience easily. By using the right marketing strategies and efforts an online business can increase their growth and revenue.
11/23/2020 07:46 AM
How to Add Festive Flair to Your Website for the Holidays
For many people, it's time to start celebrating the most wonderful time of the year. So don't forget to give your business website a makeover! Seasonal website branding is an ideal way to showcase your small business and put people in a festive shopping mood. Here are eight ways you can add holiday elements to your website.
11/19/2020 09:20 AM
Tips to Choose a Small Business SEO Company in Houston
Search for the right SEO company in Houston is sometimes daunting. But when you search for the perfect SEO company in Houston, it can be overwhelming. Here are a few things you should know before choosing an SEO service provider for small businesses.


home | site map |