Marketing is dynamic and changes constantly. If you notice any of these errors happening in your marketing efforts, stop what you’re doing and rethink your strategies because these seemingly harmless errors can be fatal to your business.
Mistake # 1 – Think of marketing as the lifeguard
To my constant surprise (and disgust), many people think of marketing as the magic solution to all ills of their business. In search of an immediate return, entrepreneurs place an ad and imagine a flood of phone calls the next day. Not so. In most cases, marketing will not save a company. It will just start saving.
Mistake # 2 – Lack of monitoring
As a marketing plan is developed for your company, you need to know the strategies and understand how they can translate into market success. But the best marketing plan in the world is useless on a shelf. One hour per week is the minimum that any company should spend on marketing – an hour a day if a larger company.
Mistake # 3 – Play Coins to cover holes
Keep an eye on your marketing budget is a good habit. But some companies go too far. Spend more to improve appearance won’t result in overnight profit. But it may communicate an image of success for your business, resulting in sales and referrals. So, from time to time, make fanfare. Modernize your sales materials. Just consider these additional values as an investment.
Mistake # 4 – Becoming impatient
Currently we expect things to happen immediately. However, the successful marketing approach relies on a 180 degree opposite direction. Why? Because marketing is a change on people’s behavior, and this doesn’t happen instantly. Therefore, it is essential to remain constant.
Mistake # 5 – Do not listen to the market
Marketing is to be in the market and keep your ears open. Small businesses can conduct a market research if they get creative. For example, the following issues are invaluable and cost nothing:
• What does our company do well?
• Where can we improve?
• What else can we do for you?
Ask these questions to a handful of regular customers and you will be amazed at the amount of information discovered.
None of us can avoid all marketing mistakes. After all, we are human. But you need to identify them and remain vigilant.