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.
For the record, I am a HUGE fan of leveraging online resources and inbound marketing. I like to think of them as an important part of a well-balanced marketing diet. I totally agree that digital tactics are critical today (and I use them for my clients); yet they must be balanced with a mix of appropriate traditional marketing activities to yield success for most businesses.
In the design and construction industry, I work with clients focused on both the residential and commercial markets. Some firms focus on business-to-business work, while others focus on business-to-consumer projects. However, they all have a few things in common. They use a combination of inbound marketing tactics (SEO, blogs, social media to pull prospects to their websites) balanced by a mix of traditional marketing activities (face-to-face meetings, trade shows, print ads, signs, etc. to attract prospects to their businesses).
Once in a while, I even come across business owners who are focused primarily on old school traditional marketing activities. They don’t feel digital marketing will work for them. Even small businesses benefit from online marketing. My mantra to them is the same: they need to diversify and pick a mix of new and old techniques.
If you need more ideas on how to identify the right marketing mix for your situation, please download a copy of my recent presentation. My Marketing Made Easy presentation is designed for companies in the design and construction industry, but is also applicable to many businesses providing professional services.
I’ve also added a Marketing Mix Selector form to the site. Please feel free to use this tool to select the right mix for your business. You can print out the form and share it with your team. If you would like my assistance, please be sure to hit the “submit” button, so I will get a copy.
As you plan your marketing activities, be sure to find the right balance of digital resources and traditional channels to successfully reach your prospects. It’s unique for each company, but most balanced plans will have some similar elements. If you are having difficulty selecting your options, please feel free to contact me for an evaluation.
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