11 Marketing Mistakes That Can Absolutely Destroy Your Business
1# Failure To Identify Your USP And Then Promote It
Wal-Mart has built their brand around “Always Low Prices”. John Deere has “Nothing runs like a Deere”. These slogans have been repeated so frequently in conjunction with the brand that consumers can immediately identify the company even if they don’t always agree with the statement.
If you don’t have a Unique Selling Proposition (USP) that identifies your company and brand, how will your customers be able to tell the difference between you and your competitors?
2# Failure To Identify Your Target Market
If I ask you to tell me who your business is targeting with your product and services and you tell me everyone, I will come to the conclusion that you have absolutely no idea who your ideal customers are and where to find them.
Observe your customers and you’ll figure out what your ideal customer looks like.
3# Failure To Target The Hot Prospects In Your Target Market
A hot prospect within your target market is someone that is itching to buy the product or service that you have to offer and any reasonable pitch that is presented to them will result in a sale. Unfortunately, hot prospects don’t last forever. You need to know your customer, know where they congregate and know how to reach them when they’re ‘hot’ so you can put your offer in front of them the minute they get hot for your solution for their itch.
4# Failure To Build A Five Star Reputation For Your Business
If you put a system in place to train your employees on the importance of building a five star culture within your business and then collect reviews from your customers, you will have everything you need to help get that all-important word-of-mouth advertising.
5# Failure To Use Your Five Star Reputation In Your Marketing
Once you have nothing but five star reviews on directory sites like Google+ Local, Yahoo Local, Bing Local, on other local directories and on your corporate website, you’re ready to start letting the world know how good your reputation is but most of you don’t do it.
Isn’t it about time that you started to use these great reviews in press releases, in your print advertising, in your social media marketing and in any other type of promotions that you do?
6# Failure To Build And Maintain A Relationship With Your Customers
Do you collect the name and email addresses from your customers? When you make a sale, do you have the opportunity to collect the name, address and phone number of your customer? Information like this from buyers is a gold mine.
You can use this information to send them an old-fashioned thank you note for making the purchase, informational tips on how to get the most out of their purchase can be sent to the consumer or you can send them greeting cards for the major holidays. Little things like that will require a little time, some planning and a certain amount of money but it will keep your name in front of your customer and help build loyalty.
People appreciate these little extras and these extras will make it much, much easier to turn this happy customer into a repeat buyer.
7# Failure To Have A Marketing System In Place
Unless you have a marketing system in place, you’re throwing your advertising dollar out in a haphazard way which is going to make it more difficult to gain and sustain any kind of momentum in your marketing.
Once you have a marketing system in place, you will be able to measure the effectiveness of your local search marketing, your social marketing, each type of print advertising that you do and how effective your customers are at bringing in new referrals for you.
If your marketing system does not have a component that rewards current customers for sending new business your way, you’re missing out on some of the easiest marketing that you could ever do.
8# Expecting Your Marketing Message To Close The Sale
There are many types of marketing techniques that you can engage in with your business but no single technique has the ability to overcome a customer’s objections and explain all of the benefits as well as you or one of your employees.
9# Expecting Your Customers To Fully Understand How The Product Will Benefit Them
When a customer comes in to buy your product, they are looking to solve a specific problem at a specific point in time. If you or one of your employees, can add additional benefits that will serve the customer both now and in the future, that customer will place a higher perceived value on that product or service than they had when they walked in your door. This higher perceived value may help you justify a higher price or simply make the sale easier to make.
10# Failure To Position Yourself As A Trusted Advisor
A trusted advisor is a person that honestly points out both the good and bad about a product as it relates to the need of the customer. One feature may be a major benefit to one customer but it could be totally inappropriate for another. When you or your employees take the time to learn how the customer is going to use your product or service, you may be able to point them to a different product or service that would be more appropriate for their needs.
By helping them choose the correct product or service, you are showing them that their needs are more important than the sale.
The trust that you gain by helping them make the right choice helps you get a positive review when you ask for it, it may help you get a referral from one of their friends when you ask them to tell others about your business and they may be more inclined to become a repeat customer.
11# Failure To Market Consistently
The only thing worse than no marketing is stop and go marketing. Create a marketing plan that lets you promote your business on a consistent schedule. Use a percentage of the profits that come into your business from that marketing to put back into building your business.
Every dollar that you spend on marketing your business should bring in more money than what the promotional methods cost you. If you are not seeing a positive ROI, you need to tweak your advertising until every time you put an ad out in brings in more business than what you spent.
Consistent marketing with a positive ROI on every method that you use generally means that your business will grow at a rate faster than you ever dreamt of enjoy.
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