{"id":5927,"date":"2022-08-30T17:16:57","date_gmt":"2022-08-30T17:16:57","guid":{"rendered":"https:\/\/karolakarlson.com\/?p=5927"},"modified":"2025-04-14T16:39:42","modified_gmt":"2025-04-14T16:39:42","slug":"top-5-growth-mistakes","status":"publish","type":"post","link":"https:\/\/karolakarlson.com\/ro\/top-5-growth-mistakes\/","title":{"rendered":"Top 5 Mistakes &#038; Cures of Slow-growth Companies\u00a0"},"content":{"rendered":"<h2 class=\"wp-block-heading\"><\/h2>\n\n\n\n<p>This article is based on a keynote titled <em>5 Mistakes and Cures for Low-traction Startups<\/em> that I presented at the <a href=\"https:\/\/summit.superangel.io\/\">Growth Marketing Summit<\/a> in August 2022.<\/p>\n\n\n\n<p>The room was packed with marketers. The screen was lit up with stupid (or, arguably, lovely) cat and raccoon GIFs. The air was filled with painful truths and aha-moments.<\/p>\n\n\n\n<p>Essentially, everyone had gathered to find the answer to a burning question, albeit simplified:&nbsp;<\/p>\n\n\n\n<p><strong>Are we making any mistakes in our marketing, brand, or product strategy? And how to fix it?&nbsp;<\/strong><\/p>\n\n\n\n<p>Are you spending your marketing $$$ the right way or throwing them straight in flames? \ud83d\udcb8\ud83d\udd25\ud83d\ude92<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/_MgSh_1vKG-4MuQXuqam6wk_U0APHb0yiyR2HyvID80GDInSN2WQKMZN3hux39JfzUiP1g-_J5BRgWmvBAf0tjOxH8EHez3LivcmGnyjSecfPHONINhzQZGlgpUgzdWLF6KKGO9zr02YQimqTl824A8\" alt=\"\" style=\"width:588px;height:295px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">How I imagine the CMOs and CEOs must feel&#8230;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Taking a step further, it&#8217;s important to realize that <strong>marketing, brand, and product are intertwined. <\/strong>You can&#8217;t grow if one key aspect of your company is dysfunctional.<\/p>\n\n\n\n<p>So instead of focusing on tiny mistakes like using on the wrong Facebook ad campaign structure or missing out on email marketing automation, I asked everyone to take the macro-level view.<\/p>\n\n\n\n<p><strong>Zoom out of your everyday work and consider your company from the birds-eye level.<\/strong><\/p>\n\n\n\n<p>Now, you&#8217;ll begin to notice the <em>actual<\/em> problems. And once you see them, you&#8217;ll be able to fix them.<\/p>\n\n\n\n<p>But before we jump to the TOP 5 mistakes of low-traction businesses, I suppose I should briefly comment on why I am even the right person to talk about this topic\u2026<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"20-marketing-audits-later\">20+ Marketing audits later\u2026<\/h2>\n\n\n\n<p>For the past 1.5 years I&#8217;ve been freelancing as a marketing consultant, working with both B2C and B2B brands.<\/p>\n\n\n\n<p>I&#8217;ve had the opportunity to speak to 60+ businesses and work with 20+ of them.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/ImeVOAdIOlK8afAfZEz08Yb3YPODwSOa5VUqx_AujEgU_tillPuzIaceVO5kU4QRF3Ot6UfhaWQSN5Mgzdt2PCIQ4IEaQkZO4tcKB2tVbi9FQhxNMNq72JpeAx_eOi7Los2OVsKCJsvKPWBgih3SX_U\" alt=\"\" style=\"width:716px;height:312px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">My favorite marketing collabs<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Quite often, I begin a new marketing consultation project with a 360-degree marketing audit.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is-a-marketing-audit\"><strong>What <\/strong><strong><em>is<\/em><\/strong><strong> a marketing audit?<\/strong><\/h2>\n\n\n\n<p><strong>Read more: <a href=\"https:\/\/karolakarlson.com\/ro\/80-marketing-audit-questions\/\" target=\"_blank\" rel=\"noreferrer noopener\">80 Marketing Audit Questions \u2013 Free Checklist<\/a><\/strong><\/p>\n\n\n\n<p>The goal of a marketing audit is to understand how the company is doing in all aspects and channels of marketing and growth.&nbsp;<\/p>\n\n\n\n<p>It might also arise from burning questions like:&nbsp;<\/p>\n\n\n\n<p><strong>&#8220;Marketing isn\u2019t working. What are we doing wrong?&#8221;<\/strong><\/p>\n\n\n\n<p>Or\u2026<\/p>\n\n\n\n<p>&#8220;Are we using the full potential of all marketing channels?&#8221;<\/p>\n\n\n\n<p>To compile a marketing audit, I request access to the company&#8217;s marketing reports, ad accounts, etc. I always set up calls with relevant team members to get their insights.<\/p>\n\n\n\n<p>Once I have all the requested information, I&#8217;ll get to work\u2026<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/cG9QkqZgGue020W798oighMCGyia2HYMyYtm-LtoaAiRlf_pISNSADta08Y3_clEfczFHtPMPrBlu0nFRf5HvFg9Xrl03eYIRHyTJVwd3rWSEQ0--V2y4zmYy1py2drJLZI47SgQgMpQ020wO5wnfiM\" alt=\"\" style=\"width:480px;height:360px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Ultra busy checking ad accounts\u2026<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>It usually takes ca 1.5 weeks to compile a marketing audit\u2026<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/hlFBjnmV9js8QXHqbb9r8Mf0f30uLhN3uBk74E9Gmb-2tmtSaLBmudN6t9RzF6xC9dFFG1LRlhjNhgpPo1ppyLwlCdv45PSOE9ahLVWNGZ3YbY0AqpDo6uGL6t8VUigjCVVDb3WG54mCkoBO16TWG_0\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Typing down the 100th recommendation<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In the end, I and my client end up with 60-70 pages&#8217; worth of a Google Doc. It includes an overview of all the marketing channels.&nbsp;<\/p>\n\n\n\n<p><strong>I also look into the onboarding process and product retention<\/strong> as it&#8217;s just as important a contributor to a company&#8217;s growth as new user acquisition.&nbsp;<\/p>\n\n\n\n<p>Below is a quick overview of the marketing audit sections that I generally cover.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/dmR2SfML3xfRm-oke-_emERcVCFivFTqCXgCkJy83Riwvg0ik7SY3IMhl_2MlzAukDNK9ddpPwry7u9E7zv8V1CXRXrouwE5D41Xf8nrCnCojIVP7JEB_DxXQaQOQP80LOmANnE826Dq5aAtaqAl7KA\" alt=\"\" style=\"width:677px;height:316px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Marketing audits cover more than just paid ads<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In regards to each of the above topics, I share my advice on:&nbsp;<\/p>\n\n\n\n<p>\ud83d\udd0d The current state<\/p>\n\n\n\n<p>\ud83d\udd0d Opportunities<\/p>\n\n\n\n<p>\ud83d\udd0d Suggestions<\/p>\n\n\n\n<p>We then meet with the marketing team \u2013&nbsp;often the CEO joins as well \u2013 and discuss the key takeaways and, most importantly, how to go forward.<\/p>\n\n\n\n<p>\ud83d\udcab Goals<\/p>\n\n\n\n<p>\ud83d\udcab Action plan<\/p>\n\n\n\n<p>\ud83d\udcab Work<\/p>\n\n\n\n<p>As a result of a marketing audit, the company will have a clear understanding of how each of their marketing teams\/channels\/actions performs and how to improve it.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/vHWUuvPu5prNweFHC9tBjPXFdrZnnVsiuAIXSZkO2jkzZdK7qKyuM34yq0oU53_tHCz6YN8sdtHzg3d3iJMUwSd_oshabYrJvgFe2G9odD9j65S9mUVuMlMjq68pt6ksAdXGAmEDunF12zNqYErLAO8\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Now the real work begins!<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>Alright, sounds sort of legit\u2026&nbsp;<\/strong><\/p>\n\n\n\n<p>But what <em>are<\/em> the BIGGEST mistakes and priorities?<\/p>\n\n\n\n<p>Let&#8217;s get right down to it!<\/p>\n\n\n\n<p><strong>Read more: <a href=\"https:\/\/karolakarlson.com\/ro\/55-predictions-for-2025-marketing-trends\/\" target=\"_blank\" rel=\"noreferrer noopener\">55+ Marketing Trends for 2025<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"mistake-1-no-clear-goals\">\ud83d\udd25 Mistake #1: No clear goals<\/h2>\n\n\n\n<p>The first things in a marketing audit that I check are the company&#8217;s<strong> marketing KPI and growth reports.<\/strong><\/p>\n\n\n\n<p>I mean\u2026 80% of the time I don&#8217;t check them as <em>they do not exist<\/em>. Rather, what&#8217;s been happening is the CEO or CMO saying:<\/p>\n\n\n\n<p>\u201cLet\u2019s run some ads and find out who our customer is.\u201d<\/p>\n\n\n\n<p>&nbsp;Or\u2026<\/p>\n\n\n\n<p>\u201cWe\u2019ll find out the ROI and CPA once we start with marketing.\u201d<\/p>\n\n\n\n<p>Um\u2026 No you don&#8217;t!<\/p>\n\n\n\n<p><strong>You (the CEO or CMO in this case) should know the company&#8217;s growth forecast for the next 6-12 months.&nbsp;<\/strong><\/p>\n\n\n\n<p>You should know <em>where<\/em> that growth is supposed to come from. And at what CPA, ROI, and payback period. How else do you intend to ever make your startup or early-stage business profitable?<\/p>\n\n\n\n<p><strong>Without clear growth goals, there won&#8217;t be a clear action plan.<\/strong><\/p>\n\n\n\n<p>The best a marketing team can do at such poorly-guided companies is to try to get &#8220;some&#8221; results. Without a long-term vision, this tends to result in wasting time on poor-quality social media posts or blog articles that nobody will actually read.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/lkG1PEb2T6WxvaXQ1rBzQy_QgNDYIplkydr6_jVkQjQjfYDPw_lWrdI7dP6iVKP6VBXS1VeJk6rI8qtXX86AlXUGnoqDtQm9_59Efq4AOhgudqt3deljzld8lk2e8buGrp-HGH9pLRawaTpHTZipITw\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Working 9 to 5&#8230; \ud83c\udfb5\ud83c\udfb5\ud83c\udfb5<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Doing marketing without a clear understanding of the goals amounts to being busy for the sake of being busy.<\/p>\n\n\n\n<p><strong>If you don\u2019t know where you want to go, you can\u2019t get there.<\/strong><\/p>\n\n\n\n<p>If this sounds like your company, here&#8217;s a not-so-easy (and yet unavoidable) solution. You&#8217;ve got to demand clearer input from the top management.<\/p>\n\n\n\n<p><strong>The only fix to Mistake #1 is getting clear input from the CEO<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/0vgP3m0uU9bQw4T5IKaDCa0TN030mM0H-eKa0dLtUo_IRxs8edluDOqqTHWkxr__xYtsZi35SXtKDmLijjIbPbgOJqFVOISUKEXJCX8Lv8Fnzg38917HTCyXbFoUvmBnxlXjHdCvwkQ0Dg65bnsqQEA\" alt=\"\" style=\"width:651px;height:330px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Top management needs to know the goals<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>When consulting various companies in growth and marketing, I always begin by establishing a detailed Marketing KPI Tracking sheet. Together, we fill in the past 3 months to see if there&#8217;s any past data on the LTV and CPA per lead and paying customer.<\/p>\n\n\n\n<p>Up next, I collaborate with the CEO or CMO to understand the next 6 months&#8217; revenue goals and work down to other growth and marketing projections based on revenue expectations, churn, LTV, and expected CPAs.&nbsp;<\/p>\n\n\n\n<p>All this leads to having\u2026<\/p>\n\n\n\n<p>\ud83d\udddd\ufe0f A clear 6-month plan<\/p>\n\n\n\n<p>\ud83d\udddd\ufe0f Alignment of marketing &amp; product<\/p>\n\n\n\n<p>\ud83d\udddd\ufe0f No gut-feeling-based surprises<\/p>\n\n\n\n<p>&#8230; on the high level. And on the marketing team level, you&#8217;ll have&#8230;<\/p>\n\n\n\n<p>\ud83d\udcab Clear expectations (numbers)<\/p>\n\n\n\n<p>\ud83d\udcab Revenue, ROI, LTV<\/p>\n\n\n\n<p>\ud83d\udcab KPIs and measurement<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/Mpj7Bj0D8f65mAC0rT7My3yQZGVuJTGiK30-Dhc2pJ-VZP4uIPb2EmrfYG42dYPuw6ssmG9kAhGpmcZKStRPpOedgKZUqJSNYZKF8OMHzOeZ5nV6_A05-zFgDNqA-BOMm24pUEgff7LEQv8zKZRv5l0\" alt=\"\" style=\"width:450px;height:253px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Ready for the takeoff<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-text-align-left\">Once we know all this, we can proceed to implement the planned marketing activities and campaigns.<\/p>\n\n\n\n<p>Moreover, as you know the expected KPIs, you can compare whether your results match the projections and make quick adjustments (e.g. channel &amp; budget allocation) if needed.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"mistake-2-amazing-product-bad-packaging\">\ud83d\udd25 Mistake #2: Amazing product, bad packaging<\/h2>\n\n\n\n<p>Remember that quote used in startup blogs and books around the 2000s?&nbsp;<\/p>\n\n\n\n<p><strong>\u201cIf you build it, they will come.\u201d<\/strong><\/p>\n\n\n\n<p>Well, as it turned out as I googled it, the words come from a movie titled <em>Field of Dreams<\/em>.<\/p>\n\n\n\n<p>When talking to various businesses \u2013 both B2B and B2C \u2013 I&#8217;ve realized that many of them have a very strong product and there&#8217;s a high potential for finding product-market fit.<\/p>\n\n\n\n<p>However, their website and ads looked like out of an early aughts&#8217; financial scam.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/_ucO9039tD38iLIPuYJE7B3WsH5c6QoTgAc3dDgIgpBhATq3T_ZVAhMEVjScphy_8FnqlmlKEMU9SNWnRU2u9leGq1v7uumlaDlya_sjZ40FTaXy1BelsOc-HtdmHbJpu_QHzRJED0QpPzh1L5Zk9Mk\" alt=\"\" style=\"width:328px;height:327px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Great products need great packaging<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Around 10y ago it was still possible to build a breakthrough product and get people using it via engaging the early adopters and betting on word-of-mouth.<\/p>\n\n\n\n<p>In 2022, this is no longer the case. Almost all business verticals are saturated with tens of businesses building a similar product.&nbsp;<\/p>\n\n\n\n<p><strong>Even if your product is the best in the industry, you&#8217;ve got to earn the user&#8217;s trust. <\/strong>And nobody these days trusts a brand that looks low-quality.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/91wp-fMFWCc56wYqxjnWEsSHdPswUlZbsAzU-mlZTP5YeERZ-esCfIvZrCE1zOhbxQKho6nkJ2YSE_RHXJDd5n-nac2kiB6KcALhXXiY29sUxcoLiyfw1sHVDFbgfnUAAHZXXaTyVWGlnxR16afZnxc\" alt=\"\" style=\"width:677px;height:308px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">People don&#8217;t buy from brands they don&#8217;t trust<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Take this example of a well-known fintech company\u2026<\/p>\n\n\n\n<p>Here&#8217;s what their website home page looked like in 2012. (IDK how it didn&#8217;t look sketchy already down in 2012, but anyhow\u2026)<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/U0LxVp5SQmNk8VthPlTMru0_vby2TWH2L1zy6-wAmGknOP36odMKUuqcFdq1vgS8Mlr5grEK6aCiWcMk74vqNEcm1tp7zfOHrioLyUJLxKzNNEpEKUiYIHnD1qdGJ8H1UwRf-xtSWTP9TU-WMGdxxXDskWQm8-e00ni6cDQZZGy2zO67r22PqPcuWA\" alt=\"\" style=\"width:560px;height:510px\"\/><\/figure>\n\n\n\n<p>Would you trust your money to this company in 2022? Hopefully not.<\/p>\n\n\n\n<p>Of course, they know that design trends as well as website-development opportunities have changed over the past 10 years.<\/p>\n\n\n\n<p>Today, the same company&#8217;s home page looks like this:<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/-AxsGGnTR5U4X2tSS5SiccLTG_GeX5eQklm4_Y_3_Bau2iRUOJqeW7hQL1a1bu6FzUeg0fLzCsWIBVmA09UknRGdc5DrC2pD6vYtqJVAXweX5SXxgMfGsMLfkX8S-iXLAEPNQZfYwpUIZDBHRBrVPKk\" alt=\"\" style=\"width:543px;height:522px\"\/><\/figure>\n\n\n\n<p>Looks 100x more legit, doesn&#8217;t it?&nbsp;<\/p>\n\n\n\n<p><strong>It is told that your brand should be good enough not to get in the way of growth.<\/strong><\/p>\n\n\n\n<p>But how to tell whether your branding is good enough? I usually suggest a simple exercise:<\/p>\n\n\n\n<p>Ensure your brand is at least as good as the competitors\u2019.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/Y5lDARIiI1ng2esPwX87bS5xsaJG6OfBrk10bFOawGAp-1MLwu0xhwwffVbIh7ub-xHn_GRrlQykGxYTCGKyNAD_565-7viQW9e4qbyNBm0D5LzjxhyzvWh1tL0JoPSHmbvovoXgzrVljJWGMJdJmr4\" alt=\"\" style=\"width:647px;height:324px\"\/><\/figure>\n\n\n\n<p>But don&#8217;t just go with the gut feeling \u2013 your own baby will always look sweeter and smarter than those of others.<\/p>\n\n\n\n<p><strong>Ask three types of different audiences to evaluate your website \/ App Store listing and to grade its quality and trustworthiness.<\/strong><\/p>\n\n\n\n<p>\ud83c\udf6a Ask a brand\/marketing expert<\/p>\n\n\n\n<p>\ud83c\udf6a Ask your friends<\/p>\n\n\n\n<p>\ud83c\udf6a Ask 10 neutral people<\/p>\n\n\n\n<p>And what shall you do once you realize that your brand really isn&#8217;t as strong as it should be?<\/p>\n\n\n\n<p>Hire a branding expert or agency to help you out.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/SuTIoNq5glAskNzGJm-y5GD1w6JKCjpw1CSuJLCStMPI7JGpBre9DEV097pUo8LWtW9B-oEQ759jiRj3EKc3IpMz6efAAGtQCZlyEkZK7v-sq_h5BCvdUBUYxHuM6FfyKlpvK8VLOlI0GnQohnM-6R8\" alt=\"\"\/><\/figure>\n\n\n\n<p>Now, let&#8217;s get to the next mistake that&#8217;s the exact opposite of having a strong product and a low-quality brand.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"mistake-3-amazing-brand-no-product-market-fit\">\ud83d\udd25 Mistake #3: Amazing brand, no product-market fit<\/h2>\n\n\n\n<p>You can trick people on a date with your product\u2026<\/p>\n\n\n\n<p>\u2026 But they\u2019re free to leave any time.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/M9O87rdXmV0JgkAriowwXA1-mv5WOigJtdoXOVL36m5xuniHuajcHRtUNp0GAtNoLyDlgagZtEgK9PI_wx5sYzmwg5ht-TTojOtTdvsVeZwnICgkNjRnkl20BAhpeG3C_BHbGhy5Ykx3ezPIK9ipLRI\" alt=\"\"\/><\/figure>\n\n\n\n<p>What this means is that you can spend a lot of money on paid advertising and other venues for customer acquisition.<\/p>\n\n\n\n<p>However, <strong>if your product fails to deliver on its promises<\/strong>, the new customers will immediately churn.<\/p>\n\n\n\n<p>I&#8217;ve often seen Product and Marketing teams fighting over this conundrum. Is it the fault of the product or marketing that you fail to attract new paying users with a high LTV?<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/_Qauce9d615QMdRujo_e9fp5mUF0jBhCWLtX9E6l39THenZJLIJRZWxpG7B7vz7Qs45pvu3iXZNyiBo1H__45tp50UydB70zSIefOMygAQ-DS0uWsTZY02tYeHIERXi4kOxyLyoRq_DJ6xm79RiS9ZZIeYw52HBaE6FksZaDh70m4zRWOQtvFnAMjw\" alt=\"\" style=\"width:538px;height:351px\"\/><\/figure>\n\n\n\n<p>Sometimes, as I ask during a marketing audit what the customers think about the product, I hear that <strong>all the users are huge fans and give positive feedback.&nbsp;<\/strong><\/p>\n\n\n\n<p>&#8220;The feedback from 20 customers tells that the product is great\u2026&#8221;<\/p>\n\n\n\n<p>The problem with such easy-way-out customer surveys is that you might send an email asking for feedback to 1,000 users. But only the ones who like your brand will answer.&nbsp;<\/p>\n\n\n\n<p>The few fans would of course tell you almost anything you want to hear. But is it the information that you actually need?<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/qqTmF7BnJo-qqy7dlVy6RpynPh7WfffQ3EmRj3nGHeUx2n2oypeVxoSfzMr18AfiqZrItpaqqXGotdF7nJdxLQLGO3EUZ2mrsC3tFol_GgeI9sjHCwkvLrrBYkh1z6FAnorqmSNBUCv4z-Cqfa9gJPnXNmirfosu77M1OS2aXQHY_CkTuHGd1BteuA\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Yes this is Dog I like the product<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Here&#8217;s the problem\u2026<\/p>\n\n\n\n<p><strong>People who are disappointed in your product do not bother to reply to your emails.<\/strong> Nor do they fill in the surveys.<\/p>\n\n\n\n<p>So how can you get honest, relevant, unbiased feedback about your product?<\/p>\n\n\n\n<p>By hiring a group of 10-20 random, neutral people who more or less fit your target audience group and getting them into a room or on a 1h call one-by-one. You can then ask them to test the product and to give honest feedback.<\/p>\n\n\n\n<p><strong>The goal here is to uncover the real issue. The most common issues include:<\/strong><\/p>\n\n\n\n<p>\ud83d\udd25 Solving an inexistent problem<\/p>\n\n\n\n<p>\ud83d\udd25 Not the best way to solve a problem<\/p>\n\n\n\n<p>\ud83d\udd25 Too expensive (time + money)<\/p>\n\n\n\n<p>The solution to a non-existent product-market fit is, well, to find it. And it&#8217;s not going to be easy \u2013 you&#8217;re going to have to make substantial changes to the feature set, pricing model, or another product aspect. Or pivot completely.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/iiQwr_nctf5Prg4iBjKtTAGEzT3X-a_ldIatTOXj9nT8JgmSeEhQlzE9t3l2RDDdwOj4E9LcXQWbcdfNpHlPhxIPgNQJ3MLk1xZd5iBZJXWCMyImwWy8mlPVOuH1WzntinEvvk4MCvZ-ZKLavN4NNR6uViwQowIrQKgL4MEZQkgOCxZovgaiypDbJQ\" alt=\"\" style=\"width:642px;height:327px\"\/><\/figure>\n\n\n\n<p>P.S. By &#8220;improving your product&#8221; I do not mean building new cool features that seem like quick wins. This almost never works. A meaningful product change will probably take months, but will also be worth the effort.<\/p>\n\n\n\n<p>Looks like we&#8217;re steering away from marketing and spending too much time on the product? Thing is, <strong>no marketing can make people use a bad product.<\/strong><\/p>\n\n\n\n<p>But let&#8217;s get back on the marketing track for now\u2026<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"mistake-4-lack-of-focus\">\ud83d\udd25 Mistake #4: Lack of focus<\/h2>\n\n\n\n<p>Most marketing teams are constantly on the lookout for new user acquisition and growth channels.<\/p>\n\n\n\n<p>At one point, this will lead to your team of 1 or 20 \u2013 depending on the size of your company \u2013 working on many different channels at once.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/tARP2nTbEOF0dowc5hGVISHYnzElLHf_WkrzlqawmJJdUzVI2L-ICF6jzUxHWl-xNjyaH08M1ujogOwW4ytxXnuBnSRhZAqudMu0Rnj_L6ZSAxHJRgnMQbvBFTWopFKgibqi7xM5KvFMXq3M-SifwpQ\" alt=\"\" style=\"width:600px;height:302px\"\/><\/figure>\n\n\n\n<p>Most of the time, focusing on so many marketing campaigns at once will lead to a big bold mess.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/bGk1yVjMJqBYgUsFpTMklopchgZEOQyHGCw5_xEnFfmIOZYwBiqLQwTCRypjMixP2YKQS9-Vgvf9d8Cj6Co1ZwjBjndCtMsEm9SU1k4MXEVAubi0p8_6gbs4jEoZVylpT7Lu5alymqQKT5BZ3V3MtHw\" alt=\"\"\/><\/figure>\n\n\n\n<p>If this looked like your marketer, keep reading. Salvation is coming.<\/p>\n\n\n\n<p>One of the most common suggestions I write down in marketing audits is this:<strong> Stop working on this marketing channel.<\/strong><\/p>\n\n\n\n<p>\u274c There&#8217;s no point to post on social media if your posts are not original<\/p>\n\n\n\n<p>\u274c There&#8217;s no point to create another blog article on a topic that&#8217;s been covered 100x<\/p>\n\n\n\n<p>\u274c There&#8217;s no point to work with influencers if you don&#8217;t see measurable results<\/p>\n\n\n\n<p><strong>Consider all the marketing activities that you and your team spend time on and ask: Is this bringing us new customers and revenue?&nbsp;<\/strong><\/p>\n\n\n\n<p>If the answer is no, stop working on that marketing channel.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/PX5muYXSG3ok8VlyUpde7G7zOQ5ZwzTBsDScLJEgTgV7Rz37tx5zV1ls0Tuo4RuqttIQcQevTGgvJ7OQqjXCrA_fSL7BjFwLxEhD00-fsehqDJNkiVJRjT-4P1DuvwSwAuNlOUS9p9uChmb9G-lLtv8\" alt=\"\" style=\"width:600px;height:302px\"\/><\/figure>\n\n\n\n<p>Quite often, I recommend to my clients to focus only on paid advertising and automated emails for a while.&nbsp;<\/p>\n\n\n\n<p><strong>If you can&#8217;t make paid ads work for you, the chances are low that you&#8217;ll find substantial growth opportunities in any other channels<\/strong>.<\/p>\n\n\n\n<p>You can drag along for a year or more doing low-impact work. Or you could just spend the time and salary money on running 4 weeks of paid ads.<\/p>\n\n\n\n<p>Instead of 12 months, you&#8217;ll find out in 1 month whether there&#8217;s a product-market fit \/ whether your brand is strong enough.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/xSRZzl6QVTebafog9WJaMypIY43C0HTcn8n2KcA3CCNb3Dls_pTyUW170q0MkZAbaW0MBVkzWjC3jRq0P3JvSJd0mHPJUbj10Q3FCfP4NZqXdHfuk4aKdwQOm5EJI2M8tybp6akUIfO05EVkq2hyYqQ\" alt=\"\" style=\"width:320px;height:320px\"\/><\/figure>\n\n\n\n<p>To explain this a little further, I&#8217;ll share a quick story from my Bolt years.<\/p>\n\n\n\n<p>As one of Europe&#8217;s biggest mobile advertisers, we received a pitch from a new ad platform every week. They promised lower cost-per-install and<strong> lower cost-per-purchase prices <\/strong>than we had in Google or Facebook ads.<\/p>\n\n\n\n<p><strong>However, we always turned them down.<\/strong><\/p>\n\n\n\n<p>Why?<\/p>\n\n\n\n<p>Because their platforms could reach only 1% of the people we could reach with our Facebook and Google ads.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/W0VrQRw6VjpNbD_1g812jR-x9lh8Re0LLoelDPmCYyufxWL1PW2T3enhCIxLY84WFtWqNbSKfpuRD_MS6fmmWtVaGJVBdb6WhQOad6qLCMTaoHQyoIA6DY8ERvHpzJZvr8VygjWQb0iHHY3fS4Zs3V4\" alt=\"\" style=\"width:493px;height:545px\"\/><\/figure>\n\n\n\n<p>Why would we spend time on working on tiny marketing channels instead of funneling all our efforts into scaling and improving our top channels?&nbsp;<\/p>\n\n\n\n<p>Instead of wasting your team&#8217;s time on tiny marketing campaigns that promise low-cost results, <strong>focus on the activities that bring results on scale.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/xVwPY9TcoIh13E3_P9vOAh6Nqs_oVqzOtGo3nyeDcLQgW8nIKoTuyONb51kgsrmziknI2oMoBpgt9CSzKwRMo8wu-61yRV7gf39VkWwRmqPsM2ury26Dn7slXGsaotMXB-aoYXA1UigjQigfWlKxltgkpW3RpVR90ox6Am2NpOmI72y2HBPje_R5YQ\" alt=\"\" style=\"width:656px;height:329px\"\/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>\ud83e\udd72 Kill your darlings and cute pet projects&nbsp;<\/p>\n\n\n\n<p>\ud83e\udd72 Focus on 3 high-potential growth channels<\/p>\n\n\n\n<p>\ud83e\udd72 The same applies to product features<\/p>\n\n\n\n<p>As a result, your team&#8217;s focus and output will improve. You&#8217;ll have to work less, but will yield better results.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/xlZlNFsV-VCh2EH8nn_rbrx29kqufqQnIQdfAzSdGiRMcoVLexasTc8_EJElLOgMVYI3HlPyNC6kbcaQrsSIIroBHTtFmCgdWzi1cLukds-Zka1vJtt6t_dpTd4LtVzfHhlptfGmOFXfbbfXL4B4gMg\" alt=\"\" style=\"width:480px;height:359px\"\/><\/figure>\n\n\n\n<p>To put this in Moomin terms: instead of reaping ten unripe green pumpkins, you&#8217;ll get one big juicy pumpkin.<\/p>\n\n\n\n<p>Continuing on the subject of (vegetable) growth, we&#8217;re down to the last mistake\u2026<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"mistake-5-no-growth-loops\">\ud83d\udd25 Mistake #5: No growth loops<\/h2>\n\n\n\n<p>Whenever you bring a new user into your product, the first challenge is to keep them there for the first 3-5 minutes.<\/p>\n\n\n\n<p>If you achieve that, you&#8217;ve likely got an excited user looking to explore your product further.<\/p>\n\n\n\n<p>While it usually falls on the Product team to increase retention, reduce churn, and keep users happy over a long period of time,<strong> there are points in the in-product user journey that fall under the Marketing team&#8217;s radar. <\/strong>Such as\u2026<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Post-signup retention newsletters that urge the user to complete their profile or try the product<\/li>\n\n\n\n<li>Post-onboarding requests to refer a friend<\/li>\n\n\n\n<li>Automated lifecycle marketing emails that keep bringing people back into the product\/store<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/9yhSLvl0YN-lgLRW2UteGNfqUsxXl0BlbCwcsEJPt4DDPpTDcQ-py8X1PQoZ7sug2qt5KGGmT5RThm2fD4KKYOi2kdHltiWogsYGRfIDjYxFBn5IZD_lgIdooOir9loVAxrHkdwJ7wSIqikeoSOm9w\" alt=\"\" style=\"width:574px;height:353px\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">Know your retention stages \u2013 <a href=\"https:\/\/blog.growthhackers.com\/solving-retention-with-loops-93bdbbf3e3f9\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Image source<\/a><\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>If you forget to think about user retention, you&#8217;ll be filling a water bucket with a hole in the bottom.<\/p>\n\n\n\n<p>You might bring in 10,000 new users\u2026 But in 2 months only 20% keep using your product.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/agkl8x0gsw6Kfv3lNABep_yMnBCN-kJQCsMvr2bEv8h4Glc1BU6U5b4TSa7CENfU4lhFfedG2X1eskeE1RwEekeZRz6adtXWMcNc3u9F5wVQIcWWB441n-mspMXuM99cZg29Gv4APjpoAEHbH4DBxIuY_ySDOfTmRghThXNrbeh9Lop2u554elWt\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\">My friend where are tho?<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Yup, that&#8217;s sad.<\/p>\n\n\n\n<p><strong>But there&#8217;s more than just retention marketing that you can do.<\/strong><\/p>\n\n\n\n<p><strong>You can also build growth loops.<\/strong><\/p>\n\n\n\n<p>A playbook definition goes like this: &#8220;Growth Loops are systems designed to make every input to generate an output. That output is then reinvested as an input and, since this is a closed-loop system, the process repeats.<\/p>\n\n\n\n<p>In more practical terms, the best-known growth loops are:<\/p>\n\n\n\n<p>\ud83c\udf6f User-2-user referrals<\/p>\n\n\n\n<p>\ud83c\udf6f User-generated content<\/p>\n\n\n\n<p>\ud83c\udf6f Rewards programs<\/p>\n\n\n\n<p>However, offering people \u20ac5 to invite a friend for another \u20ac5 promo code doesn&#8217;t quite cut it in 2022. You may need to find more attractive incentives.<\/p>\n\n\n\n<p>For example, Revolut has upped their referral offering to \u20ac50 for every referred friend. On the other hand, they&#8217;ve also made it 5x more difficult to fulfill all the conditions.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/9bwzdRxJ_N6wVC07BG_BC-BUJm4NdgfnMc_LIj3ezHEQ1GgrpEYKI9rk_dX4OqBApiWVElPwS2NoKWt6Mf7zQAkVs7VtZZdFlCS_Rw51PlrNcYaLFfWanO1iqex-hvVmW5VMLqoFzi1E5HhhmnPTJg\" alt=\"\" style=\"width:574px;height:375px\"\/><\/figure>\n\n\n\n<p><strong>Test various referral programs to turn one new customer into multiple new customers.<\/strong> By the time the first one leaves, their invitees are referring their own friends.&nbsp;<\/p>\n\n\n\n<p>The best time to ask for users to refer friends is while they&#8217;re excited about your product \u2013 either right after signup or after another successful engagement (e.g. ordering something from your store \/ unlocking a milestone inside the product).<\/p>\n\n\n\n<p>\ud83c\udf69 Build in the initial surprise moment<\/p>\n\n\n\n<p>\ud83c\udf69 Establish growth and retention loops<\/p>\n\n\n\n<p>\ud83c\udf69 Keep people excited and engaged<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/UVyZeYQWvhKlm2a1TI98lgZ4Eu494c47nJ1473mnTc8b40yE6pps8tZiUCRwC91p6Q6in3t796tvHPfbOiMZqm8ydlKBMjx2pK0MR0hZ-_VbX8OkQNWL9-uMw4LdA3dQNTnXB8-5MeSSLIYQ8hcIqw\" alt=\"\"\/><\/figure>\n\n\n\n<p>Once you&#8217;ve figured out the biggest hurdles to your company&#8217;s growth, you&#8217;ll be able to fix the holes in your marketing and product buckets.<\/p>\n\n\n\n<p>It&#8217;s only an uphill ride from there.<\/p>\n\n\n\n<p>\ud83c\udf6a Thx for listening, thx for reading! If you&#8217;ve got an article\/keynote topic you&#8217;d like me to cover next, drop me a line on <a href=\"https:\/\/www.linkedin.com\/in\/karola-karlson\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">LinkedIn<\/a>.<\/p>\n\n\n\n<p>\u2014<\/p>\n\n\n\n<p><strong>A quick note:&nbsp;<\/strong><\/p>\n\n\n\n<p>I am back from my <a href=\"https:\/\/karlsonkarola.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">writing<\/a> sabbatical and taking on new marketing consultation projects.&nbsp;<\/p>\n\n\n\n<p>While my schedule for the upcoming months is already 60% booked with confirmed projects, I am still open to 1-2 extra interesting projects starting from October\/November 2022.&nbsp;<\/p>\n\n\n\n<p>Reach out at <a href=\"mailto:marketing@karolakarlson.com\">marketing@karolakarlson.com<\/a> and tell me how I could help your marketing\/growth team.<\/p>","protected":false},"excerpt":{"rendered":"<p>Why do companies fail in growth and marketing? Here&#8217;s my 2 (or 5) cents.<\/p>","protected":false},"author":5,"featured_media":7153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_gspb_post_css":"","footnotes":""},"categories":[11,4],"tags":[24,66,117],"class_list":["post-5927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth","category-in-depth","tag-growth","tag-marketing","tag-startups"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Top 5 Mistakes &amp; Cures of Slow-growth Companies\u00a0 - Marketing Fix blog<\/title>\n<meta name=\"description\" content=\"Why do companies fail in growth and marketing? Here are the top 5 growth mistakes I see brands making.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/karolakarlson.com\/ro\/top-5-growth-mistakes\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Mistakes &amp; Cures of Slow-growth Companies\u00a0\" \/>\n<meta property=\"og:description\" content=\"Why do companies fail in growth and marketing? 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