If done properly, marketing has the potential to not just get people talking about your product, your company or your services, but also create a number of prospects and loyal followers. Marketing campaigns however, also often go wrong. They are either talked about in the wrong light, or worse, go completely unnoticed. Although mistakes are inevitable, some common mistakes can definitely be avoided.
Lack of research
The performance of any marketing effort can be determined by proper market research and testing. Knowing the target audience is essential; guesswork about what the customer wants does not work. Different offers, packages and prices need to be tested with the input of the clients and a thorough research.
Not knowing the market
The success of your brand is largely determined by the voice of the market that you are targeting. Reaching out and communicating with the customers gives you an opportunity to repeat business, and also makes the customers feel like their opinions are valued. Getting an honest point of view and having a good grasp of the customers’ needs is priceless. It lets you find out the needs that need to be filled and the holes that need to be closed.
No marketing plan
A marketing plan serves as a map, a guide to success and every business, big or small needs one. The marketing needs to demand an immediate response from the recipients. It needs to encourage the customers to act, to draw them into doing what you want. The marketing also needs to be consistent.
Lack of tracking
The success of the marketing cannot be measured if there is no tracking system in place; there would be no way of checking if the marketing has been effective. There are a lot of ways to monitor marketing including web analytics, special coupon codes, unique phone numbers and others.
Failing to capture repeat customers
It is important to keep in mind that the major percentage of the business comes from existing customers, and only a small number from new customers. Reselling to current customers is crucial; failing to do so could have negative effects on your profits. It takes more revenues, time and energy to sell to new customers than to sell to existing ones.
Marketing without a USP
Sometime, if the marketing lack diversity, it tends to become boring; a complete disaster for you. USP is your unique selling proposition; the one thing that will segregate you from the rest of the competition and get your product noticed. Every piece of marketing material should use it. Your USP gives you brand value, and requires some planning.
For any marketing venture, you need to be clear about the goals that you wish to accomplish. Markets continue to change, but avoiding the most frequent mistakes will go long way in allowing your business to evolve.