Common mistakes made in the pursuit of making money, can and will eventually…. cost you money. It’s guaranteed. This is not what Marketers are in the business for, losing money. Unfortunately, this is the end result Businesses will get by making these 8 common mistakes, and if that isn’t enough of a motivator to change how you use Marketing for your Business, then I don’t know what you’re in business for in the first place. Obviously not to make money. However if you are in Business to make money (Which I hope is part of your business plan) and you are using Marketing as a form of promoting and selling your products and services, then I suggest remembering these, “8 common mistakes Businesses make and how to fix them”.
Marketing by definition is, ‘The action or business of promoting and selling products or services, including market research and advertising’. To put it simply, Businesses use Marketing to promote their products, their services, and themselves in ways that appeal to the buyer, consumer, or interesting party, ultimately to SELL! (MAKE MONEY) Remember, “Proper Planning Prevents Poor Performance” whenever you decide to start a marketing campaign. Here are 8 Common Marketing Mistakes Businesses Make and how to fix them.
Not Knowing Who your Customer Is
Who are you selling to in the first place? You must know exactly who your target market is and it cannot be too broad. Narrow is better in the sense of finding who your customer is, who you’re selling too. The age group, the demographics, race, religion, etc. You cannot target only in pursuit of getting customers, you have to be specific as far as WHO you are selling too. You have to ask yourself, who is my Customer? When you can answer that, while being very specific, you will have your specific target market in
place and you will know who your customer is.
Your message is unclear and or unappealing
Your message and what you are trying to convey to your target market must be clear, concise, and appealing. It must not be generalized as something everyone will understand. You must avoid generalizations, and focus your efforts to eye catching material that is understandable no matter your education or background.
You’re not marketing enough content
Are you getting in front of your target market as often as you should? Running the bare minimum ads won’t resonate your brand with your customer because they haven’t formularized themselves with your product/brand, mostly because they haven’t seen enough of YOU. Get in front of your potential target market often!
Making Assumptions that other Marketing Strategies will work for you too
You must and I repeat you have to seek out your own individual strategy. Following what has worked for others, doesn’t mean that it will work for you. Be different. Stand out. Be unique, and make others follow you. Set the bar!
Not feeding your Budget
You cannot expect to make a fortune off of your child’s piggy bank in terms of paying for your marketing efforts. You have to expect that in order to get anything out of your marketing campaign you must invest more than pennies into it. If you don’t invest, prepare to sell less.
Research is valuable, but don’t solely rely on it
Research can be a very valuable tool, and it will ultimately save you a load of time, but don’t solely rely on research from generalizations of businesses similar to yours. Every business is unique in some way, you must see for yourself and use some of your own research! Get out there and connect
Not taking risks for the fear of the unknown
Entrepreneurs in general are risk takers. They are willing to step out of the norm in order to reap the reward. The same must be true when marketing your businesses. You must be willing to take a risk, if need be.
Trying to brand
You do not have to rush to brand your company or product, this will come in time. Stop spending all this needed elsewhere time on trying to put a brand on your business, rather let your customer help you decide. A lot of wasted time is spent creating a brand, rather than creating and perfecting your marketing strategy.