ten marketing mistakes small businesses make
Marketing is critical to the success of every business. Unfortunately, many businesses discount the effect it can have, and they forego marketing because the believe they can’t afford it or simply don’t have the time or energy to create a plan. Perhaps this is why a high percentage of small businesses fail. But you don’t have to be a statistic when you approach marketing with the importance it deserves. Below you will find some of the most common marketing mistakes businesses make.
- Not Developing a Marketing Plan
- Not Planning a Marketing Budget
- Not Targeting a Specific Target Audience
- Not Developing a Clear and Consistent Marketing Message
- Believing Your Product or Service will Sell Itself
- Not Clearly Defining Your Product or Services’ Benefits
- Underestimating the Value of Your Existing Customer
- Thinking that Advertising is Marketing
- Ignoring the Benefits of Public Relations
- Expecting Too Much, Too Soon
Often, someone just starting a new business will get terribly disappointed because they developed a brochure, ran an ad, attended a networking event, or sent out postcards with little response. They get discouraged and lose sight that marketing is really about developing relationships and like any new relationship it takes time to build interest and trust. To turn a potential customer into new customer, you must reach out to them with consistent marketing messages (at least six times…more if you’re selling a high ticket item) before they feel like they “know” and “trust” your company enough to take the risk of purchasing a product or service.
Remember to stay the course, follow your marketing plan and talk to other businesses that have been down the same path you are on. You’ll find there is no such thing as instant success. And if you are really unsure of what you are doing, find a business mentor, or hire a marketing professional. You may find that by avoiding the ten biggest mistakes small business make, you are on your way to success!