What Are Marketers’ Biggest Fears?
There are certain marketing issues that cause chief marketing officers (CMOs) their biggest fears. In the ever-evolving world of marketing, these issues make or break the most detailed and finely honed marketing campaigns.
- Fear of failure
- Sudden changes in target market
- Loss of brand reputation
- Misunderstanding mindset of potential and existing customers
Fear of Failure
The fear of failure in marketing occurs when there is a tiny kernel of doubt. Failure can occur in marketing planning and scheduling, failure of marketing staff to understand marketing goals or failure to reach desired target markets.
Sudden Changes in Target Market
When there is a fear of failure to reach the desired target markets, it may be a result of sudden changes to the marketing landscape. It may also be a result of not correctly identifying target markets and/or miscommunication.
For example, when a small business reaches its optimal customer base, business owners may not realize they need to delve more deeply into a wider marketing pipeline that grows as their business grows and at the same speed as business growth.
Loss of Brand Reputation
Loss of brand reputation occurs with businesses involved in marketing goods or services. All it takes is a single negative customer review for a brand’s reputation to descend into a maelstrom of negativity.
This can be avoided by projecting a brand reputation for excellent customer service and willingness to go the distance to ensure customer satisfaction, all the time, every time.
Such excellence of customer satisfaction neutralizes customer negativity. Another strategy is the use of customer reviews in business advertising.
Misunderstanding Mindset of Potential and Existing Customers
When your marketing is based mainly on your views of your goods or services, it almost always results in misunderstanding the mindset of potential and existing customers.
The best-nuanced approach to your marketing plans is to produce and promote as if you are the customer. This provides a greater depth of credibility for your brand’s reputation and your business name as well as allowing marketing to emanate from the customer mindset.
There are several ways to achieve the goal of a better understanding of customers’ mindset:
- Know the benefits and unique features of your goods or services
- Adapt goods and services to the specified target market
- Be open and willing to exchange communication with customers regularly
- Understand how your goods and/or services fit into customers’ lives
The role of a CMO is complex and not without inherent problems and rewards. However, it is important to study the insights of marketing experts. The one feature all marketing experts possess is their ability to innovate and their fearlessness of changes as needed.
- Ensure your marketing message is clear and articulate
- Measure your marketing successes by anticipating the next step
- Try a new strategy when the existing strategy has exceeded its value
Overcoming Marketers Biggest Fears
Simplify your marketing life by compartmentalizing your private life and your professional life. That reduces stress. Take advantage of today’s hi-tech advancements that expedite your market planning and are cost-effective.
Create a signature customer-centric culture. Combine your social media and marketing strategies to create a fire-wall for marketing challenges and unexpected changes.
Brandon Webb is a former U.S. Navy SEAL, Sniper, and finished his time in the Navy as the Naval Special Warfare Sniper Course Manager. A passionate Entrepreneur (SOFREP.com & Crateclub.us) and a New York Times bestselling author. He is a member of YPO New York City and, Harvard Business School OPM 56.