The 6 Most Common Marketing Execution Mistakes B2B Companies Make
In my last blog post, I shared the 7 most common marketing STRATEGY mistakes I see B2B companies in New Zealand make.
But, marketing is about more than strategy. A great strategy is important, but unless you are able to execute that strategy successfully, it’s pretty useless.
If you have managed to avoid the most common marketing strategy mistakes, you are off to a great start.
While most people seem to be itching to get past the stage of setting direction and making sure you are doing the right things (‘strategy’) and onto activity, I also see a lot of organisations dropping the ball on some of these EXECUTION mistakes. These can ruin your chances of success, no matter how good your strategy is.
Here are the 6 most common marketing execution mistakes I see B2B businesses make.
Mistake 1: No clear plan of how to deliver
Many organisations develop their overall plan and then jump straight into execution, without taking the time to break the strategy down into bite-sized chunks and making sure they are clear on what actually needs to be done to get to the objective.
For example: achieve $20m in revenue; grow 5%; enter Australia….
I have seen this lead to overwhelm and inefficiency. Or worse, a complete lack of connection between the activity and busyness of what is done and whether it is moving towards hitting that goal.
You know the phrase: Go slow to go fast.
Take the time to plan the execution of your strategy - how are you going to get there?
You don’t start driving to a new destination by thinking “I just need to drive” - you check out where you are going, what roads to take, whether you need fuel and what time to leave.
Try this: Articulate your marketing goals by quarter/month/week and then map out your core marketing activities by quarter (or month/week).
For example: to build thought leadership you need to know what your themes are, what content you are creating, what style your e-book is in etc….but it doesn’t all need doing today.
Be clear about who is doing what and how you will know what has been completed and achieved.
A couple of free tools that might help you to kick that plan to action:
Quarterly and monthly templates - download your copy here
Marketing calendar - download your free template here
Mistake 2: No clear targets and accountability
It’s hard to know if you’re on track when you don’t have clear targets. And if there’s no accountability, you risk things slipping through the cracks because everyone assumes someone else is handling it.
Think SMART!
Specific, Measurable, Achievable, Relevant, and Time-bound.
Without clear ownership, it’s easy for execution to drift — or for the team to get distracted by other priorities. Make it clear who is responsible for each action, and set targets to measure progress.
Think about how you are going to hold yourself and your team accountable. It’s easy to get distracted by other things (urgent, but not always important), or for goalposts to move, but sometimes this is noise and is not moving you towards what is really important.
When and how do you manage that as a leader or a team?
Try this: Set clear, measurable targets and assign accountability to specific team members. Follow up regularly to check progress and adjust where necessary.
These weekly, monthly and quarterly meeting agendas will help.
Mistake 3: Getting easily distracted
I often see businesses make plans – only to forget all about them the second an interesting new opportunity pops up.
Being entrepreneurial and adaptable is key when building and growing a business, so don’t lose this. But there is a difference between being adaptable and jumping at every opportunity that presents itself. For your business to grow, you have to commit to certain goals and priorities and then see it through.
That doesn’t mean being rigid with your plans. For the right reasons and opportunities, you should absolutely change your strategy. But it should be a considerate and intentional decision, not an ad-hoc response to a shiny looking opportunity that just popped up.
I know - for most growing businesses, resources are scarce. For just about everything you do, there is something else you won’t be able to do (even though it might be a good idea or opportunity). When you decide to pursue a new opportunity, be clear about what you will NOT be doing in exchange – and how that will impact your business.
Try this: Regularly refer back to your strategy and ask yourself if you’re on track. If new opportunities come along, consider them carefully against your objectives. If you want to pursue them, change your strategy, not just the busy activity of today.
Mistake 4: Busy working in the business, not on it
This is an issue for many founders and leaders, especially those with technical expertise. It’s so easy to get buried in the day-to-day — responding to emails, dealing with client work, hands-on-helping the team. In the meantime - where is the accountability and keeping on track? And what is that saying to your team when they don’t do what they were supposed to?
I have seen this challenge inhibit many organisations - things don’t get done, time slips and all of a sudden…it’s already halfway through the year and you haven’t achieved what you wanted.
Try this: Block out time each week to step back from the day-to-day and focus on your business. Treat it like any other non-negotiable commitment such as a client meeting. This is about the future of your business.
Mistake 5: Inconsistent lead nurturing and follow-up
I literally envisage dollar bills lying on the floor for this one. Too many businesses spend money on getting new leads, but then move onto the next activity without fully making the most of them.
If you have leads, from lead-gen marketing, events or any other source, make sure you have a plan to follow them up in a timely way and nurture them over a period of time.
As I pointed out in the blog post about strategy mistakes, 95% of your prospects are not buying RIGHT NOW. They might not have a need or could be lacking the resources and budgets right now.
But you want to be front of mind when they are ready to buy.
Try this: Look at your database. Understand what leads and opportunities you have already. Make a plan for how to engage with them regularly.
For new opportunities, create a plan so you are clear on ‘what next’.
Use your CRM/calendar to schedule tasks and think about creating a nurture journey, using automation.
Mistake 6: All hunting, no fishing
Many organisations are focused solely on hunting for new business. Don’t forget your existing customers. You want to retain and grow these (fishing in your pond).
On average, it costs 5x as much to win a brand new customer than it does to grow existing customers, so that goes directly to your bottom line. Cha-ching!
Try this: Develop sales and marketing activity directed at your existing customers. Focus on the most valuable (top tier) customers first. Set a minimum cadence of contact for your existing customers (in person, phone, marketing activity etc..) and make sure they know all you offer
These may look super obvious, but I honestly see these as the 6 most common execution mistakes I see B2B business in New Zealand make.
The good news is - none of them are super hard, timely, or expensive to deal with.
Review your business and identify where you might be falling down some holes. I guarantee it will be time well spent and could make a real difference to your bottom line today and the growth of your business this year.
If you need any help avoiding these mistakes – or generally growing your business – get in touch.
Get in touch
I provide leadership, support and direction for growing Kiwi tech and innovation companies as your 'fractional' (part-time) Chief Marketing Officer (CMO) - an affordable way to get senior thinking and direction for businesses.
If you could do with some help to grow your business, get in touch
Helen Shorthouse
Fractional Chief Marketing Officer (CMO)