We are finding that more and more people are coming to us and telling us that "marketing isn't working anymore". Advertising does not work, email marketing has fallen off a cliff, cold calling hasn't worked in Europe for two years now and events don't work.
Or maybe, one of the above works, but this isn't enough to sustain the growth targets and aspirations that all companies have. There is a lack of leads and meetings and this will impact on the revenues at some point. Or the revenues are already being impacted.
Often we hear people saying that they have a bad quarter and they have decided to put in a new plan, so that does not turn into two bad quarters. Or as we are speeding to 2019, because the demand generation tactics of the past are not working, they want a new plan for 2019.
Obviously they are talking to us, because they are investigating social to drive at least the sales, maybe marketing and maybe human resources parts of the business.
At what point should you implement the remedy?
During a bad quarter?
After a bad quarter? which is during the second bad quarter?
In 2018, so you are ready to go in 2019?
That will be you call. We have one client that has stopped all the marketing that does not work as they say it's pointless. Pouring money down the drain!
Back to my original exam question - When Your Business Is About to Hit a Wall, When do you Figure Out What You Need to Change?
Establishing a habit of getting to know more people and learn from their expertise can help you on your intellectual and entrepreneurial journey. And when you do find yourself in a rut, don't run into the arms of a bad solution. Instead, take a step back, review your resources and try to find a new way out.