1. Activities using marketing resources
Many companies produce thousands of brochures but do not have a clear plan to use them. There are companies that send people to many events to build relationships with customers, but then no one promotes activities after that. Overproduction is often the result of poor planning.
To overcome the above situation, companies need to evaluate the return on investment (ROI) of marketing activities, thereby focusing on successful activities and eliminating wasteful activities, spending marketing budget on marketing activities. market for other business improvement proposals.
This way will help businesses save marketing resources (marketing resources) on wasteful and ineffective activities.
2. Humans
Too many people involved in marketing activities would be a big waste. The marketing director or chief executive officer (CEO) needs to develop marketing plans, action programs and hire outside experts when needed instead of having to organize a cumbersome staff to do it yourself, perform all marketing activities.
In many cases, a company does not need a marketing director if the appropriate consultants are in place.
3. Process
Marketing is a process of reaching potential customers, converting them into real customers. A marketing process that is too complicated will definitely waste the budget.
Therefore, companies need to create processes to reach customers, convert customers, handle customer requests and build customer relationships, thereby eliminating activities that do not bring value treat.
4. Waiting
When the information transmission mechanism has to go through many layers, it is difficult for companies to act quickly and easily lose opportunities. If the marketing staff is not active, always waiting for the orders of the superiors, the company will be wasted marketing resources.
5. Communication and promotion expenses
The old methods of communication such as mail, fax, telephone, direct contact ... are now quite expensive compared to the methods of using the Internet, so they should only be used in case of absolute necessity.
For example, if a business can switch from a monthly paper newsletter to an email, it will save a lot of money. In fact, many companies have not well controlled communication costs, leading to the problem of losing marketing resources.
6. Trial and error
Trial and error is an expensive practice that businesses should not use, especially when marketing budgets are tight. Therefore, businesses need to plan carefully before deciding to test many times because if it fails, it will waste marketing resources.
7. Cost of finding sales opportunities
One of the ways of doing business in B2C model (from business to consumer) is to acquire customer lists of other organizations. But be careful with this approach as the customer list may not be completely up to date.
For B2B businesses (business-to-business), it is almost impossible to do so because the Internet is already an ideal channel to find more information and sales opportunities.
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