Marketing Mistakes can Break a Business
Anyone who is in business knows that they have to market their product or service in one way or another, otherwise, there’s a very little chance that they will succeed. Unfortunately many fall prey to the same pitfalls, and instead of marketing to make more money, they end up losing money. To avoid being in this kind of situation, here’s a list of the most common marketing mistakes and what to do to guard against them.
Marketing Mistake: Targeting Everyone
You can’t please everybody. As cliché as it sounds, it does apply perfectly in the business setting. Catering to the needs and expectations of specific groups of consumers is much more reasonable and attainable than attempting to appeal to everybody. You’ll have more success as a brand if you are the top choice for 20% of the market, rather than simply being one of the 20 choices for the entire buying public.
Micro-niche marketing works.
Marketing Mistake: Blending In
Just because everyone else is doing it, doesn’t mean you have to do it too. Don’t play it safe by trying to be like everybody else, or following what the recognized market leader is doing. Instead, stick to your brand (if you already have one), or stand behind your product/service. Work on keeping and reinforcing that positive edge which sets you apart from your competition.
Marketing Mistake: Overspending
It’s illogical to think that there’s no need to market your product. At the same time, it’s also illogical to think that marketing your product should necessarily be a huge expense. It might not be free, but it shouldn’t always have to be so costly. The key is in making sure that you are able to clearly communicate your message to your target audience in a way that appeals to them, whether through conventional marketing means, or other more unorthodox tactics like guerrilla marketing.
Like putting salt on food: less is more.
Marketing Mistake: Leaning on One Side of the Brain
Coming up with marketing strategies requires more creativity than logic. This is not to say, though, that it is only your left brain (the side that’s responsible for creative and artistic efforts) that should work when doing marketing planning. The right side of your brain (for logic and rationality) should be used too, but it should be to do research and testing. This way, guesswork will be minimized, and your marketing campaign will have better chances of succeeding.
Create, then test.
Marketing Mistake: Being Logical
When it comes to making purchases, customers do not always rely on logic and reasoning. Many times, decisions are influenced more by one’s emotions, instincts, and gut feeling. As such, your marketing campaign will more likely succeed if you try connecting with customers, rather than directly convince them to buy from you.
Sell to the emotions.
Marketing Mistake: Throwing in the Towel
So much time and effort are spent to come up with that perfect marketing campaign, yet when sales do not immediately take off as anticipated, there’s a tendency to chicken out and not go full blast as planned. It’s not wrong to be optimistic, but one should also remain realistic. Some campaigns show immediate results, others don’t. If yours happen to need time to create impact and gain momentum, just let it run its course.
Know when to quit; and quit at the right time.
Marketing Mistake: ME, ME, ME!!
Too many businesses have a tendency to focus on highlighting everything about themselves, forgetting that no matter how fantastic their products are, if no one buys from them, success will never come their way. Take a company’s website for example. Sure, it is essential that it should show everything one needs to know about the company and their offerings. But it shouldn’t stop with just showcasing the company and their brand. Aside from plain information, there should also be an effort to connect with customers; get to know about their needs, expectations, and concerns so a more personal and lasting relationship can be developed.
Sell what your customer needs, not what you want.
Marketing Mistake: Ignoring Repeat Business
Based on the Pareto principle, 80% of your sales come from 20% of your customers. This means that though it is important to work on acquiring new customers, it is even more important to make it a point to keep your existing customers loyal to you. Selling to someone who already trusts you is much easier than selling to someone who is, for all intents and purposes, a stranger you need to convince to take a chance on you.
Marketing through Content
Have you made one of these marketing mistakes? Don’t worry, it’s not the end of the world! Move on with the next wave of marketing.
Content marketing is the new wave of marketing. Traditional forms are still viable, and still effective. But as people are more tuned in, they want to discover what the product or service is all about. Content marketing tells the client or customer why they need it. By answering the questions BEFORE the customer poses them, the sale is easily made.
Need help with your content marketing goals? Send me an email. I am a content marketer in Billings, Montana. I can work with you to create content with high conversion rates.