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Avoid these 5 common marketing mistakes to make sure that your business will thrive. It’s all about being customer focus and building relationships.
Get it right from the start, otherwise you could be ‘barking up the wrong tree!’ Choose opportunity over failure by watching out for these common marketing mistakes.
Common Marketing Mistake #1 Lack of Research
Remember that the only way you can successfully give your customers what they want is by asking them what they want! It’s no good marketing unless you have got the product right. That means that you are confident that there is a high demand for the product and USP (Unique Selling Point).
One of the most common mistakes by people in business is to miss out the market research stage. But, to spend money out of this may save you from wasting thousands by launching and marketing a product that no-one would want to buy.
How to avoid this marketing mistake: Market Research! You can do market research through surveys, social media and formal and informal focus groups.
Common Marketing Mistake #2 Lack of Customer Focus
Remember, it’s not about you! Change your focus from Me! Me! Me! (the marketer) to You! You! You! (the customer). Get to know your customers on a deeper level.
This also ties in with #1 – make sure that you are offering the customer what they want, as opposed to what you think that they want.
How to avoid this marketing mistake: Listen to your customers and engage with them.
Common Marketing Mistake #3 Starving the Budget
You’ve heard the common phrase – you have to speculate to accumulate. That’s also true in marketing. Even though you don’t have a great deal to invest, it is important to spend something on marketing.
The trick is to test a few methods and see which drums up the most interest, then repeat. For me, the biggest interest and sales driver was Facebook Ads.
How to avoid this marketing mistake – Invest some capital in marketing. Have a marketing plan that outlines an achievable budget.
Common Marketing Mistake #4 Not Being Patient
Marketing is no longer one way and dictatorial. It works as a two way relationship nowadays. Building relationships means taking time to get to know someone, and giving them time to build trust in you.
That means that someone could be watching you on social media for some time before making a purchase. They may need to follow you on Facebook, subscribe to your blog, visit you website and hear you speak or meet you in person before they make a commitment. This is normal.
How to avoid this marketing mistake: Spend time allowing people to build trust in you and your business by sharing free advice and information. Be patient with customers and vary the ways in which you communicate with them.
Common Marketing Mistake #5 Failure to Retain Current Customers
Did you know that 80% of your income will come from 20% of your customers. Your core customers should be treated like gold dust. You will need to tend to them and create new products for them. They will be your advocates.
Think about different ways that you can retain your current customers. Encouraging engagement on social media is always extremely positive. Make sure that it is two way conversation rather than self promotion.
How to avoid this marketing mistake: Develop a mailing list through Aweber. Aweber is easy to use, and free tutorials are available online. You can then send out blog updates and new product releases directly to their email. It is possible to automate most of your marketing, which is a massive time saver.
If you enjoyed this article you might also like to read about How to Handle a Social Marketing Crisis
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