Lesson 3: The tunnel vision issue
Working and liaising with other business owners, I’ve come to notice that running your own business can in fact be really quite tough! Being your own boss means that you leave yourself completely accountable. Things that may not ‘really’ be your fault, you have to roll with and take responsibility for. The decisions you make tip the scales of your business’s productivity and profitability which for many businesses (especially start ups), is the difference between treating your team to a beautiful 5-star restaurant or having to squeeze your last penny’s in the grocery store.
In terms of marketing, one of the biggest traps I see many Bosses fall into is tunnel vision. In the digital marketing platform, there are so many flexible ideas to stretch and compress your budget. This is designed so businesses of different sizes can take their share in digital marketing (this is especially the case for Facebook Ads). However, some businesses with BIG potential will shoot low after maybe a small incident or loss. In attempts to make up for some losses, some try to cut the marketing budget a little hoping to catch up in other operations. Unfortunately, what happens from here on becomes quite tragic.
The market budget becomes more restricted. There’s less participation in the competition in bidding (keywords and ads), and the business is overall less competitive in the market. Less Ads fly on less days. What happens here is that all the potential market and leads start to get bottleneck or lose their heat in the middle process of a sales funnel. The sales and revenue starve further and everything feeds back negatively all because a small loss causing our fellow Boss’s to have tunnel vision rather than having funnel vision.
Sometimes we are lucky enough to save these starving organisations and businesses before they make their last stand and the results are quite phenomenal! The most important part about this tunnel vision circumstance is communicating this one point:
The more you put in, the more you get out.
There are solutions beyond starving and restricting one of your main lead generating machines and some of them are so innovative and efficient that we refer to it as opening the “floodgates” to your marketable audience. If you’re a business not happy with the results of your current digital marketing setup, we urge you not to restrict and then work harder. Instead, expand and work smarter.
This is especially the case when people tunnel vision too far into their target marketing which is why I’m very excited to be releasing this new piece of e-content on the official Intentree website. In this piece, I discuss and provide an exercise that will help you zoom in to your target market demographic with the hopes to open the floodgates to your buyer demographic.
Find my copy of “Leaving your Facebook Ads Legacy PT.2” On the official Intentree website and tell me what you think!