Why marketing initiatives fail: campaigns sometimes flop because we ignore the fundamentals. Here are the eight most frequent obstacles to marketing success and some suggestions for overcoming them.

• Author: Graham, John R.

The bank CEO refused to approve funds for publishing a much-needed marketing newsletter for customers and prospects. Initially, he had been enthusiastic and supportive to the point that the first edition was written, designed and approved. But when it came to publishing and mailing the newsletter, he wouldn't approve the expenditure. Yet, four months later, he wanted to get it published and mailed as soon as possible. Why the change of heart?

More often than not, budget problems are an excuse rather than the reason for scuttling proposed marketing and sales initiatives.

[ILLUSTRATION OMITTED]

Management's reluctance to fund these programs may stem more from doubts about the benefits derived than the costs themselves. For the most part, the failures result from failing to deal with certain basic marketing and sales challenges. Here are eight challenges that financial services companies should address if they want positive results:

1. Failing to capture the customers' attention.

   As strange as it may seem, the big task is not simply getting a bank's message out to customers. In fact, that doesn't count for much. Besides, that's easy and you can see the evidence for it every day and everywhere. Look at your mail, read newspaper and e-mail ads. Most of what passes for "getting the message out" totally misses the mark.

   We're flooded with messages--and most of them go right by us. Why? Because they focus attention on the advertiser. What purports to be a message is no message at all.

   If marketing doesn't accomplish this objective, it's wasting money. Most company newsletters, Web sites and marketing brochures suffer from the same flaw. They tell the bank's story but fail to capture the customer's attention.

2. Not understanding what business we are in.

   A survey of hundreds of dry cleaning customers gave respondents the opportunity to express their comments. While some customers expressed concerns about a stain problem, a missing button or some other issue related to the cleaning process, by far the majority of comments related to customer service at the company's stores.

   The survey revealed an interesting pattern: Customers who were satisfied with the people behind the counter tended to be satisfied with the quality of work--and vice versa. Those who did not care for the way they were taken care of seemed to be less satisfied with the quality of the clothing care.

   Is the dry cleaner in the business of cleaning clothes? Of course not. The basic...