Why Marketing fails for many Business Organisations?

Why Marketing fails for many Business Organisations?

As the saying goes, “If you don’t know where you’re going, how will you get there?”

This is the status wherein the current entrepreneurs are placed in. Many owners start a business without even having a plan set to run the business and succeed in it. A popular magazine survey stated that, 33% of new start up businesses fails within the first six months, 50% other new businesses fail in the first two years and 75% fail in first three years. Not many out in this failure list consider their failure as a potential of improvement.

Most common factors for a business failure:

  • Business Plan unavailable
  • Less fund
  • Objectives and goal missing
  • Measuring goals and objectives fails
  • Attention to cash flow is missed
  • Target customer and understanding the industry is failed
  • No innovation in business – “Am in too” type of a business mind
  • Tactics to attract new customers are unknown
  • Fellow competitors are underestimated
  • Cost competitiveness is not the choice

Though the above given are the general failure factors that is leading amongst many entrepreneurs, one most common factor that any business owner fail to concentrate on is “Marketing”

Marketing is one of the major key components of every business’s growth. Good marketing plan along with regulated execution helps in business growth to achieve its goals, the result of such business’s growths are proven.

Some of the common aspects in marketing failure in a business are:

Neglecting marketing over sales:

It’s a common thought that any new entrepreneurs have, magic in business’s growth comes when sales increases. Hence without a second thought, they are ready in allocating more budget to sales thus neglecting the marketing that targets the audience in the first place.

Random tactic selection

Most common guilty that any business owner end up with is their choice of tactics depending up on other business owner’s choice. Such business, just spend more by trying various tactics, without even committing to one in particular.

Marketing never considered as a part of revenues

Marketing is often seen as a separate section, wherein colourful pictures are created, with some familiar faces from the media and it’s just sales that does the actual work in achieving the goal. If given a chance, marketing’s potential would deliver real value to the business. Rather than being neglected, marketing should be made as the lead to sales.

Marketing mistook for promoting the company, than solving the customers problems

Marketing is always mistook for promoting the company’s service and products, but not the value to the audience, who would be the biggest strength in generating the leads. By the time business owners realise marketing is the only way to find the desired value by targeting the audience, they are almost with their first failure as entrepreneurs.

Digital Marketing is underestimated

The sceptical thought that a business owner posses for new ideas is often leading his company see negative results. Digital marketing is considered as cheap and less successful, when compared to the real time marketing.

When marketing is used with proper planning and execution, results reach the target audience and objective is met. This helps in the growth of the businesses.