Never Fail Industrial Marketing For Manufacturers
Wouldn’t it be great if you could guarantee your industrial marketing would never fail? Would you settle for almost never failing? How about the occasional failure that was not earth shattering and had no long-term effects? Is this post going to be some feel-good nonsense that encourages you to make lots of positive affirmations, click your ruby slippers three times, say “There is no place like home,” and magically return to Kansas?
Well, no, actually.As you all know, to never fail simply never try. This is, however more than a bit unrealistic for those of you in business. You will not get far sitting on your hands and letting all of the changes in your marketplace float by. We are all of us living in a time of radical change. This remains true whether you are the CEO of a multi-billion dollar manufacturing company or running a manufacturing concern with a handful of people. Radical change is also having a profound effect on every facet of industrial marketing.
If you seek to improve your industrial marketing you must be willing to embrace failure. Although on the surface this may seem like a strange comment on further reflection it does make a great deal of sense. If you think of virtually every new activity you participate in it is unusual to think you will have it mastered the first time.
There is a learning curve you must consider whether you are learning to ride a bicycle to putting together a multi-channel prospecting campaign.
So how do you tie this all together in terms of any industrial marketing campaign?
First, accept the fact that there is always the possibility your campaign could fail. Anyone who says that an untested industrial marketing activity will work with 100% certainty is lying. You need to carefully weigh the probability of the activity you have in mind generating a negative consequence. You also need to consider the seriousness of this negative consequence.
Second, as I have written many times over the years, make a firm company-wide commitment to test small and fail fast. Don’t ever bet the company on a roll of the dice. Testing an industrial marketing campaign takes time, costs money, and is totally worth it.
Third, live and die by the data. I am continually amazed at how long otherwise rational people will persist doing something that is clearly not working. Remember what Einstein said, “Insanity is doing the same thing over and over again and expecting a different result.” If the data says it isn’t working then accept this as a truth. Don’t deny reality.
Fourth, make changes and retest. Small changes can make an enormous difference to the success of an industrial marketing campaign. Always change only one element at a time.
The key to never failing is to fail often, fail small, learn from your failures, and make the necessary adjustments. This may seem like a contradiction but it’s true.
Now an experienced industrial marketing consultant (hint, hint) who has gone through the learning curve can be of great help, shorten the time to a full roll-out, and increase the odds of success in any industrial marketing campaign you may be considering.