Your Mindset Is A Key To Marketing Success

Could your mindset be holding back your business’s growthmindset business growth

You may not be doing it consciously.

It may be because of something you heard or saw in the past that is you still believe.

Here is an example where a company’s perception halted growth and reduced profit.

During the interview process to join a company at every meeting including the MD who I would report to and the head of the company from the UK focused on one thing.

“A major issue you have to tackle is that customers think we are too expensive.”

When I joined the company my marketing team said the similar statements about price.

For some reason this did not feel right.

What I found was the perception came from a research study that said our brand was perceived as expensive.

So everyone had latched onto this one statistic and went about lowering price and put in place strategies that reduced sales and profit.

Their perception was wrong as the research was flawed. And price was not a key factor for our potential customers.

We stopped all price reductions, changed the communication plus a number of other things. Sales grew during the year and more importantly profit increased.

Mindset

When you hear or read something often enough you can get to believe it even if it isn’t true. It can lead to the wrong marketing strategy and affect your sales and profit if it is based on a negative mindset.

If you look at your strategy and business decisions are you:

  • Making marketing decisions based on your perceptions or customer reality?
  • Developing your marketing strategy based on what others say or what you have read?
  • Looking at potential strategies for grow with a positive or negative mindset?

If you are not getting the growth you desire it may be time to take an outsiders look at the basis for the decisions.

Your thoughts?

photo credit: coti22 via photo pin cc

11 Responses to Your Mindset Is A Key To Marketing Success

  1. Hi Kate,

    Welcome to the blog and thank you for coming over from Sherryl’s blog. Yep focusing on their needs always works. Regarding traditional versus modern focusing on their needs has always been the case in consumer marketing but not so much in B2B.

    Thanks for sharing your thoughts.

  2. Radu says:

    Hello Susan, long time no see.

    I strongly believe that an open mind is the key to success in this interesting world of web-marketing. It’s a fact that you have to set goals in order to continue, but every time you accomplish this goals you have to set other just to keep the satisfaction to a higher level.

  3. Catarina says:

    Agree with you Susan. Making decisions based on reality is crucial. If not, we may end up trying “150 ways to grow your business with Twitter”:-)
    Catarina recently posted..Yoga – an access to having it all?My Profile

  4. Susan, this really gives me reason to pause and reflect. I’ve known for a while that some of my marketing strategies need to change. Starting with my mindset is key. Thanks!

  5. Boy howdy, can I relate to this. I have seen it in action in small and large companies, in individual beliefs and in the blogging world. I have been accessing where I am right now, and have concluded that my perceptions have been my stopgap. The good news is I see it. The hard part is correcting it. Thanks for jolting me out of my current spot. :)))

    • Hi Susan,

      I would have no doubt you could see it as you are so self aware :) Identifying it is the usually the hardest for most including that company I worked for. Even with evidence it was a battle to get them to see it.

  6. Geek Girl says:

    You have raised some very important points. I myself have fallen in to this trap. It’s so easy to do. Perception – where does yours come from, and where does your customer’s come from? Once you are aware of the perception you can set out change it. Great post!
    Geek Girl recently posted..Motivational Monday – September 10My Profile