There is a lot involved in starting and running a small business successfully. Therefore, it’s understandable when things go sideways sometimes. Unfortunately, marketing is one critical business area that many new entrepreneurs and small business owners might treat as an afterthought or completely neglect.
That said, knowing how to allocate marketing resources can be a massive challenge. Not to mention, without the internal marketing experts and big budgets on hand that large businesses have, it will be tricky to know where to allocate resources and money.
Furthermore, approximately 80 percent of the leads you receive won’t convert into paying customers. What’s more, it will be compounded if you are marketing your business without a strong marketing strategy.
After all, creating a marketing strategy has the same value as developing a budget. It is a vital aspect of generating revenue and growing your customer base. However, the good news is, you can avoid marketing mistakes. You only need to be aware of them and utilize some of the strategies we’ve mentioned below.
1. Not Trying Offline Marketing
While most individuals search the internet for information, that doesn’t mean everyone does the same. However, don’t alienate your potential customers by only catering to an online market. Sure, the younger generation considers the web and online advertising a lot better.
However, older generations don’t rely on the internet as much as printed material. That said, you can rent a billboard, put ads in the local newspaper, you could use direct mail. To learn more about various online and offline marketing techniques, consider enrolling in further education such as a Master of Business Administration in Marketing.
Offline marketing strategies will help drive customers to your online resources, mainly if your marketing materials include a URL. In addition, most of your potential customers will want to research your services and products online before contacting you. Therefore, it’s critical that your offline and online marketing work well together.
2. Sharing The Wrong Content
Creating a solid content marketing strategy will benefit your company in the short and long term if done correctly, of course. So, part of the process is ensuring you’re sharing useful, digestible information on your website or blog.
Ask yourself, what resources will be helpful for your customers? What questions do they want answers to? As mentioned above, your market research is of the utmost importance to find solutions to these questions and give your customers what they want.
Don’t overfill your website or blog with reviews of your products or self-promotional articles. Customers will steer clear of your blog if they find out you’ve plagiarized content.
Instead, post useful and helpful articles that educate your viewers. Moreover, establish yourself as an authority in your industry. While it is essential to post content consistently, you must also remember that quality over quantity is the best approach here.
3. Relying On All Social Media Platforms
Sure, it is vital to have social media pages for your brand. However, ensure they are worth your customers’ time. If you build a presence on every social media platform, you’re going to overspend and ruin the quality of your posts.
That said, consider performing market research to identify which social media platforms will work best for your business, and don’t forget to keep them under two or three.
Furthermore, create a robust social media strategy and take things forward. Moreover, ensure that you have the time for engaging with customers and creating posts for every social media platform.
After all, each social media platform works differently. Hence, it’s vital to develop posts accordingly. Avoid cutting and pasting the exact text on each platform. It’s considered lazy, and your target audience will undoubtedly notice it.
4. Misunderstanding Your Target Audience
You might probably say that you’ve identified your target audience. However, but proper market research, you will never know for sure. Not to mention, your company will run the risk of failure if you market your business to the wrong audience.
And you won’t get any second chances. After all, your target audience will act as the driving force behind your marketing campaigns. Not to mention every decision related to your company will be based on your customer’s needs.
More importantly, market research will tell you if there is a need for a particular service or product in the first place. There are various methods to perform market research.
Creating an effective marketing strategy will be challenging as many elements will come into play. For example, what will your next blog topic be? How many business cards to order? And which social media platforms to use?
Therefore, you need to ensure you have the resources and time to commit to each technique while keeping things under budget. Most of the time, it will require some trial and error to determine what works for your business and what doesn’t!
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