Are you putting too many eggs in one marketing basket? In other words, are you too focused on either digital marketing or traditional marketing techniques? Not being properly diversified is an easy mistake to make, and it’s imperative you fix the problem.
I learned this lesson the hard way. In 1990, I started working for a commercial interior design firm in the AEC industry. It was a great job with an amazing firm. However, most of the firm’s work was with one mega client. When the client moved their account to another interior design firm, we all learned the hard lesson of having too many eggs in one basket.
As a result, we lost 75% of our team and almost went out of business. Those of us who remained took big pay cuts and worked our tails off. In the end, we successfully diversified and managed to turn things around, but it was a horrible lesson I never want to repeat.
Over 25 years later, I see companies making similar mistakes. While they may not be depending on one big client to stay afloat, they are not properly diversifying their marketing mix. In other words, they are putting too many of their marketing eggs into an online basket, thinking digital marketing and social media will take care of everything.