I’m 99% confident you’ve heard the phrase, “Don’t put all your eggs in one basket.”
I’m also confident you understand the meaning, but to make sure we’re on the same page: To rely too much on one resource or one line of effort; to risk everything on a single venture. (Source: Merriam-Webster)
I admit, I use this phrase often because it applies to many situations, both in life and business.
And, it also applies to your marketing.
Just like it’s not a good idea to have ONE client that makes up 90% of your revenue or ONE event that raises the majority of your funds if you’re a non-profit…
It’s also a bad move to rely on ONE marketing tactic to generate all your leads and sales.
The most common example I see of this is business owners thinking all they need for marketing is social media.
In every instance I’ve come across, that is not the case.
The danger of putting all your eggs in one basket:
- Reaching only a small percentage of your target audience.
- Completely missing your target customer.
- Wasting your marketing dollars.
- Getting no results or low ROI.
So, what should you do instead?
I’m a firm believer that an integrated, diversified marketing program is necessary for real success.
And, by this, I mean implementing a variety of marketing tactics to reach your target audience on a consistent basis.
For example, in addition to social media, your marketing plan might also include:
- Print advertising
- Digital marketing
Using different tactics and channels ensures you reach a greater percentage of your target audience and even better, more than once.
The combination of tactics and channels is not one-size-fits-all and is different for every business, depending on your industry, audience, budget and goals.
If you’re currently suffering from putting all your eggs in one basket syndrome, contact me for help.
P.S. Find out more about this rookie mistake in this episode of Marketing MOJO.