Wonder why brands spend lots of money and time developing an effective marketing plan for their brands? That’s because marketing plays a critical role in the success of your business. It can either break the business. Over our years of helping businesses achieve their marketing goals, we discovered that most business owners do think marketing only depends on smart planning and doing the right things. Unfortunately, that is not correct!
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To succeed in marketing, you need to have a deep knowledge of what you ought to do and what you ought not to do. This is especially true for small businesses because they are already stretched thin and can’t afford to make errors.
If you are a small business owner just starting out or have been in business for a while, below are the top 7 marketing mistakes you must avoid.
Top Marketing Mistakes Small Business Owners Should Avoid
#1: Treating marketing as an expense rather than an investment
This is the first mistake most small business owners do make, and it has deprived many of them of achieving their marketing goals. An expense is something you buy and after some time, it depreciates. But investment is something that after being purchased will deliver value in the future.
The primary purpose of marketing is to convert more leads into customers and keep them as loyal fans of your business. So, if your perspective about marketing has been that it is an expense, ready to cut marketing programs and campaigns when things get tough, you might need to reshape your perspective.
Marketing should be a catalyst you need to drive new opportunities and spur growth even when things seem to be tough and sales fall in the tank.
#2: Not having a marketing plan
We have seen this in lots of business owners – not only the small business owners. Trying to promote your brand or business without a marketing plan will sabotage your effort and lead you to frustration. Although you may be lucky sometimes and achieve the result you desire, the probability of you wasting lots of money and precious time in the process is high.
When thinking of promoting your business, you need a solid marketing plan. Every successful business you see today has one. So, don’t start marketing without having a plan too.
#3: Being unclear about your unique selling point
Your business is not exactly the same as any other business in the marketplace. The specific thing that makes your business different from others is your unique selling point (USP). Therefore, to make the most of your marketing campaign and drive good success to your business, you need to identify the thing that sets you apart from the competition.
Your marketing effort will be based on your USP. So make sure you are clear about it before starting to promote your business.
#4: Not sure of what marketing your competitors are doing
Even as you try to differentiate yourself from your competitors, you don’t need to neglect them. Staying up to date on what your competitors are doing in regards to marketing will help you a lot. When you study their marketing efforts, you will see what works for them and what doesn’t.
What kind of marketing strategy do they use month after month? Which ones have they used in the past and abandoned, and why? Using tools like Spyfu will help you better understand the best PPC and SEO strategy for your business. A tool like Google Alerts will also come in handy to help you stay up to date on what your closest competitors are doing.
Know what your competitors are doing so you can use that knowledge to best allocate your marketing resources to find and convert new customers.
#5: Underestimating the power of social media
Today, the internet has changed the way we conduct business. Virtually every business is going online and social media is playing a huge role in ensuring this. Moreover, social media has proved, over the years, to be one of the most effective and affordable marketing techniques for small business owners. So don’t neglect social media in your marketing strategy.
However, when using social media to promote your business, you need to select the right network and be super-clear about your goals.
#6: Trying to sell to everyone
As a business owner, you need to know early enough that not everyone is your potential customer. You need to identify your specific target audience. Even if you offer a service or sell a product that appeals to a broad audience, when it’s time to market, you need to narrow it down to target a specific group so you can employ messaging and marketing approaches that reach them directly.
#7: Refusing to try new marketing activities
Most small business owners are always fixed up, trying to juggle multiple priorities at the same time. That is why we always recommend people set routines for themselves. Routines are good; they help you manage your time and help boost productivity, especially when it comes to marketing.
Marketing changes every day, and the only way to be consistently effective in promoting your business is to stay in tune with the changes. You also need to remain open to trying new marketing activities.
However, if you are the type that is always over-scheduled or doesn’t know how to go about marketing your business, you can give us the chance to help. Here at Made It Stick, we can help you handle your marketing while you concentrate on other important aspects of your business. Our team is skilled and experienced. We have more than 30,000-foot views to grow your business – both online and offline.
Marketing is super important to the growth of your business, and you can’t afford to get it wrong. Whenever you are planning your marketing strategy, don’t forget to avoid these mistakes as much as possible.