There’s no need to emphasize on how important marketing is for the success of a business. While there are great ways to promote your business, there are several ways where if marketing is done wrong, your business can significantly suffer. Entrepreneurs are bound to make mistakes at one point or another. It’s part of the learning curve. And marketing mistakes can very well be one of those mistakes. However, there are ways to avoid them. After research and investigation, we have found the top 5 marketing mistakes that entrepreneurs make. Additionally, we have included tips and resources on how to avoid these mistakes.
1. Lack of Research
Not taking the time to do proper research can be a huge mistake. It’s important for entrepreneurs to take the time to research to come up with the right marketing strategy for their business. Whether that’s seeing what the competition is up to, finding out what your targeted audience likes or browsing the internet and social media to come up with your own marketing strategy, it’s important to take the time to research.
2. Not promoting your Unique Selling Proposition
Every entrepreneur has one. It’s what makes your business unique and stand out. Unfortunately, some entrepreneurs are so focussed on increasing their clientele that they often forget one crucial thing when it comes to marketing their business: promoting their unique selling proposition. It’s important for clients to know from the very beginning what makes your business unique and stand out. Therefore, take the time to promote it! Include your unique selling proposition in your marketing strategy. By doing so, you are already on the path to success.
3. Retaining your existing customers
Don’t forget: 80% of your business are repeat customers. Therefore, it’s important to include them when you’re coming up with your marketing strategy. Obviously if you have a high demand of repeat customers it’s because you are doing something right. See what it is. Find out what your already existing customers like. Do a feedback request, ask questions, conduct a survey. Once you know the main reason why your clients keep coming back to your business, use it in your marketing strategy. Maybe it’s the great customer service. Or the reliability of your products / services. Whatever the reason, include it in your marketing strategy. Not only will it make your existing customers feel valuable, but it will also bring authenticity to your brand and attract new customers in the process.
4. Not using Social Media efficiently
Social Media marketing is great. It’s quickly become the number one marketing strategy for several businesses. While it’s great and allows you to promote your business at little to no cost, it’s important to have a proper strategy when it comes to promoting your business. You don’t just want to post anything anytime. Have a strategy. Think about the relevance of the information before posting. See what previous posts have received the most positive engagement. One of the biggest mistakes that entrepreneurs often make with social media is posting at random just so they can stay active. While it is important to be active on social media, you don’t want to just post anything so you can stay active. Sometimes, if there is no relevant information to post, it’s best to not post at all than to post something that can create confusion and controversy for your brand.
5. Loosing Focus
You should always stay focussed on your main goal. What is the purpose of your business? What are you hoping to accomplish? Is it to sell sweets? Making people more confident? Whatever the purpose of your business, you should never loose focus of what it is. That goes without saying when it comes to promoting your business. It’s crucial to never loose focus on your overall goal when your coming up with your marketing strategy. Some business owners often loose their focus and in result, this creates confusion to customers. They don’t understand what the brand is really about. However, if you’re consistent and ensure to include your overall goal in your marketing strategy, the message is clear and customers know exactly what your business is about.