We cover a lot of marketing tricks, but what about the complete opposite? These are a few common marketing mistakes that will cost your business lots of time, and money.
It’s a given that a great marketing campaign will take your business to the next level of success and consistent smart marketing will keep your business thriving, the main goal of any marketing campaign is to get your product or service out to the masses and showcasing it to it’s the best advantage with that follows with recognition and sales (CHA-CHING). Those are the rewards of investing in your business with a good digital marketing firm but what should you as a business owner look to avoid? You need to know about the good the bad and ugly this allows you to be fully informed about what goes into a good marketing campaign and what really doesn't, so let's look at some marketing mistakes you should want to avoid.
Not knowing your target market
- This is so important for many reasons but in a nutshell, you need to know your customers’ wants and needs period. This takes time and research to focus on what those wants and needs are. You want your business to be able to fill a void where other companies are lacking. Your competition may be selling the same type of product or service but you need to be able to provide what they don't have. Many businesses do not do enough research to know what type of customer to market to and this can be a fatal mistake.
Not understanding where to focus and redirect your product or service
- Just because you think you have a good product or service and you have had sales does not mean that your product is being seen by all potential customers. Yes knowing your target customers is one thing but where are the other people who should be seeing what your business is all about? Brand positioning is very important, it allows for a wider customer audience to see what your business has to offer. If from the beginning you started with a strategic marketing plan, your product or service could have been refocused on other potential customers in another type of marketing campaign- not just your target customers.
Unable to attain repeat customers
- New customers are undeniably a must in any business but not having these new customers turn into repeat buyers is a problem because it is a loss in continuous future sales. It is crucial to have a strategic marketing plan directed to repeat buyers just as you would have for your new customers. If your not investing in a marketing plan for these customers your business will take a hit and have potential revenue loss that you as an owner didn't even have to lose, and all this was caused by not focusing on these types of customers. It has been proven that customers who have purchased a product or service and have had a pleasant experience with that item are more likely to repurchase, again and again, therefore, the momentum continues and sales can continue to thrive.
Take the time and invest in your business it will truly pay off. Having a solid digital marketing team behind you and your business regardless of what type of product or service you provide will catapult your business in the right direction. As a business owner, it is important not only to invest but to be knowledgeable yourself and know what to look out for during the production of all your strategic marketing campaigns. IT PAYS TO KNOW.