When Marketing Suffocates Business Growth
Set in their ways and believing it was the market and not how they operated this company suffered.
A once successful construction company struggled to retain annual revenues and over four years had retracted by 25%, and profits had disappeared. The company struggled to identify the issues internally, and although investing heavily in marketing, the deterioration continued. Some company executives believed it was a sales-related problem, while others thought it was marketing. The outcome was marketing suffocates the business with the wrong strategy and target audience.
- Topline Growth of 70% in 12 months
- Marketing costs slashed by 40%
- Profit increased to 30% EBITDA
- Sales targets exceeded by most sales personnel
- New business sales goals exceeded by all sales personnel