Basic mistakes in marketing, 5 mistakes that should not be allowed
A properly developed marketing campaign can not only connect you with the right prospects, but it gets everyone talking about your company, your product, or your service. However, marketing mistakes can just as easily cost your business thousands of dollars. Here is a checklist of five mistakes commonly made in marketing and how you can avoid them.
1. Lack of Research and Testing in Makketing
Market research and testing should be done to determine the performance of every marketing effort. This takes the guesswork out of what your potential customer or client wants. Always make sure you have done your due diligence when it comes to testing different offers, prices, and packages. Get the input of your customers.
2. Improper Focus and Positioning
Don’t market to build up the company and just build brand awareness, but approach marketing to demand an immediate response from the recipient. Improper focus and market positioning can be avoided by following the proper solution positioning of marketing.
3. Marketing without a USP (unique selling proposition)
Your USP is your unique selling proposition. It is the one single statement that will single you out from among the competition. It should be used in every piece of marketing material. Think of your USP as the philosophical foundation of your business. Don’t market without it!
4. Failing to Capture Repeat Customers
Keep in mind that when marketing 80% of your business comes from existing customers and 20% comes from new customers. Failing to resell to your current customer base could have a detrimental effect on your profits. It will cost you five times the expense to sell to a new customer than to sell to an existing customer.
5. Lack of Focus on Potential Customer’s Needs
Do you really know what your potential customers need and want? If so you are ahead of the ballgame and probably don’t need to be reading this article. The truth is very few businesses have a good grasp of what it is that their customer needs from them. The secret to avoiding this common error is to find a need you can fill and then fill that need better than anyone else.
Marketing Mistakes Happen
Unfortunately, it happens. You plan, you research, you launch and the campaign fails. What could you have missed? What do you do now? The first thing you want to do is step back. Breathe. Yes, breathe. The worst thing you could do at this point is to think you are the only one this has happened to. You’re not. The following questions will help you in determining where the mistakes happened. Questions to ask yourself: Did the marketing message reach your target?
Could they have perceived your marketing message wrong or misunderstood the message? Did you miss the pain questions? Did you do adequate research? Unfortunately, lack of research is the reason most campaigns fail. Could your marketing copy or design be at fault for the lack of response? Did you follow the tried and true rules of marketing execution when it came to the presentation?
Good luck to you and your business!