
More often than not, small and medium-sized businesses find themselves strapped for time, understaffed, and searching for the next big marketing idea to bring in new business. We all find ourselves wearing a variety of hats, but that doesn’t mean we should cut corners or make mistakes that could hurt our businesses in the long run. To help you along the way, we’ve compiled a list of the fifteen most common marketing mistakes that businesses make.
PROBLEM 1
Copy Your Competitors
When you were a child, your mother used to say, “If everyone jumped off of a bridge, would you do it too?” That’s sound advice because when we copy our competitor’s tactics, what makes us stand out? Think about the stars for a moment. Each one is unique and has a story, but collectively we see right past them because they all look the same. So too does your marketing efforts when you copy off of everybody else.
PROBLEM 2
Where Did You Come From?
Each day a new customer walks into your business, calls your office, or emails you a question. How did they find out about you? A simple fix is to allocate source codes to each piece of advertising you produce. For example, if you’re sending out a mailing to an area that includes ten towns, create a special promotion code such as ABC1, ABC2, ABC3,… where the number tells you exactly what town they reside in. By utilizing that data, you will be able to make informed decisions on future initiatives.
PROBLEM 3
“I Need to Find More Customers Now!”
Remember the show “Let’s Make a Deal?” Monty Hall would head out into the audience and ask someone if they had a $20 bill on them and the first person to raise their hand would have the ability to play the game. Businesses play this game everyday. They take a hard earned, valuable, $20 bill and trade it in hopes for something more valuable. When you focus on new customers more than your existing customers, you’re doing the same thing. Your customers have already bought from you in the past, and that’s the hardest part. Nurture that relationship and remember the 80/20 rule where 80% of your business comes from 20% of your customers. That’s where the real dollars are and not in the hopes and dreams of chance.
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