COMMON MARKETING MISTAKES

February 29th 2016 at 10:25pm Published by firstdownadmin

Marketing is only as effective as its execution. Properly considering the experience and message being sent to future and existing customers can make or break campaigns. 

Common marketing mistakes and how to avoid them:

• Lack of Research and Testing. Skipping research and testing is one of the most common marketing mistakes that companies make.  Before launching a marketing campaign, you need to understand your customers. Regardless of your campaign’s purpose — building brand awareness, increasing engagement, generating leads, etc. — it must consider the audience to be compelling.
• Improper Focus and Positioning.  Your marketing should have and use the proper tools to target a specific audience. New tools and platforms allow for highly targeted campaigns.
• Marketing Without a USP. Your unique selling proposition, or USP, tells why you believe customers should buy from you and not someone else. This is what sets your products or services apart from those of your competitors.
• Failing to Capture Repeat Customers.  Selling to a new customer is five times more expensive than selling to an existing customer, so don’t forget to designate a few of your marketing campaigns toward your existing customer base to get the repeat sale.
• Lack of Focus on Potential Customers’ Needs.  Take the time to analyze customer feedback and implement changes along the way to make sure your products and services are aligned with your customer’s needs.

Modern technology has made it easier than ever to keep track of your customers’ behavior and use it to your advantage. Unfortunately, many businesses use this data to craft marketing campaigns they believe will perform well, but then they fail to track the performance to identify areas for improvement.

The most successful companies do whatever they can to tailor their marketing strategies to accommodate different trends and reach new prospects. By experimenting with different social media channels or marketing techniques, you can reach a wider audience and maximize your potential profits.

Looking for small business funding that fits your business budget?  contact First Down Funding for funding options.