3 Reasons Why Companies Are Approaching Marketing Wrong

Featured Boss: Monia Poncik

A little-known fact about me: when I was younger, if you asked me what I wanted to be when I grew up, I’d tell you I wanted to have my own daytime talk show. Ricki Lake, Sally Jesse Raphael and the ladies from The View, were idols of mine. Though I’ve not actively pursued it, it is still an idea that gives me butterflies when I think about it. As I evolve as a Success Coach and Author, I frequently get asked to speak and lately my daytime daydream feels a little more within reach.

One of the most exciting opportunities that has surfaced recently is when I was asked to be the host of the Incspire podcast, an incubator inspired platform for entrepreneurs, by entrepreneurs. After several days of shooting and weeks of editing, I’m pleased to announce that our first podcast is LIVE! While I’m not quite daytime television ready, I loved being in the interviewer seat and diving deep into emotional marketing with Monia Poncik. Monia left the agency world, went rogue and founded her own firm, Mo and Co. She is a brand marketing specialist and is someone who I have a great deal of respect for, both as a person and as a professional.

I live and breathe marketing in my daily life. To find someone who just gets it and offers a fresh perspective is completely invigorating for me and is my equivalent of nerding out. We set up shop at Lemonade (an awesome co-working and event space) and discussed traditional marketing, how the landscape is changing, why companies are approaching marketing wrong and what they need to do in order to survive in this day and age. She sees companies going off the rails in three major ways:

3.       They put tactics first. Companies are so inclined to get their message out there and will turn to all available channels to market their product or service before they’ve set concrete goals. Without setting business goals, or communication and marketing goals, companies are failing to effectively get their message to resonate with their audience and are left with no way to properly measure their efforts.

2.       They rely on push communication. Organizations often make the mistake of assuming that just because they have a good product or service they can easily turn prospects into customers. They figure that if their branding is tight, it will unquestionably speak to their audience. They push their message out without thinking of how it will reverberate, and while they may experience some success, they are missing the big picture. Monia encourages brands to think of their relationship with their customers as just that; a relationship. The way we connect with people is through shared beliefs and interest, not by the things they have. Our brands are no different. Monia suggests to “Figure out what your brand ethos is and what your core beliefs are, what your values are and combine that with practical benefits of your brand and what’s happening in the world and communicate that outwards. You’re going to pull in the right people, who are connecting to your brand’s values and beliefs, and will buy your product or service”. This fosters greater brand loyalty and will ultimately enable you to scale your business.

1.       They're not interpreting their data. We’re in the digital era and have more data than we’ve ever had… but we’re not looking at it properly, according to Poncik. Your data should serve as a pulse check for your business and encourage you to ask yourself, and your team, more questions. Instead, companies often look at the numbers without looking at the story they tell. Her advice is to challenge what the data is telling you, constantly ask questions and seek to uncover the insight the numbers hold, and adapt your strategy so you can continue to satisfy their customers.

Business owners and their brands are in a very powerful position, but only if they're willing to listen to what their customers and their data tells them. Figure out what your audience needs, create a genuine brand promise, deliver your brand promise through compelling collateral and be willing to test different channels to best communicate it.

To get full interview details, watch the video or listen on SoundCloud.

Make sure you’re not making the same mistakes! If you need help and are ready to take your business to the next level, connect with Monia, myself and other Bosses in the Bossing Up Members Area.