A strong marketing campaign will connect you with the right customers, get people talking about your company, introduce your product or service to the media, and set up your business for financial success. Thoughtless marketing, however, can do the opposite. Marketing mistakes can cost your business quite a lot in lost revenue and other expenses. In some cases, marketing errors may even cause a public relations problem. Are you making any of these five common marketing mistakes? If you are, there's still time to turn things around. Most marketing errors can be avoided with careful planning.
Skipping research and testing is one of the most common marketing mistakes that companies make.
Market research and testing save time and money by predicting how your products and promotions will perform before you launch a single campaign. They give you a snapshot of how the public will respond to your marketing campaigns, which can help you flag ineffective or unpopular ideas before you go to the expense of putting them into practice.
To understand how consumers will respond to your marketing efforts, do your due diligence. Develop multiple offers, prices, packages, and promotions, then see how potential customers react to each.
Brand positioning is an important part of creating a space for your company and standing out from the competition. Strategic market positioning creates momentum, which means that every time you market a new product or service, you are building on the previous product. But many companies market single products without thinking about how their overall brand is perceived. They then have to start over with every marketing campaign, which costs time, money, and effort.
Avoid this common marketing error by using positioning strategies to influence how customers compare you to your competitors. Are you luxury or budget? Are your products for a specific situation? Are you known for high quality or a certain type of customer?
Every product or service that you market should relate back to your overall focus and positioning. This creates a specific niche for you in your industry, allowing you to develop a loyal customer base.
SEO is how your customers find you on Google (or other search engines). Neglecting SEO or not giving it enough thought can easily result in your business being ‘invisible’.No matter how good a product or service is, if people don’t know about it, it doesn’t exist. It’s almost like grappling with the existential question: If a tree bloomed in a desert and no one saw it, did it bloom at all? While SEO comes with a learning curve of its own, you only get better as you work towards it. While there are a million things you can do with SEO, it’s important to get the basics right first.
Your USP is your unique selling proposition, the single statement that sets you apart from the competition. It shows how the benefits of your product directly address the needs of consumers in a way that no other product does.
Are you solving a problem no one else is solving?
Creating luxury quality for a low price?
Are you selling a specific lifestyle?
Do you use materials or resources in a new and desirable way?
Customers have a lot of marketing messages clamouring for their attention. If you don't present them with a USP, your business is likely to get lost in the noise. Avoid this marketing error by making your USP the foundation of every marketing decision. This will help customers understand why they need your business and what sets you apart from your competitors.
How well do you know your customers and the problems they want to solve? Surprisingly few businesses take the time to figure out exactly what their customers need and want.
The secret to avoiding this common error is simple, but not easy: find a need that you can fill, then fill that need better than anyone else. To understand those needs, you'll need to do some research and testing.
Once you know what customers really want, you can create a profitable USP, which will position your brand within the overall market. And with a strong understanding of what your customers need and want, you'll have no trouble attracting repeat buyers.
Even with the best planning, marketing mistakes can still happen. Learn to pace yourself when making big changes. If a plan doesn’t give you the results you expected, analyze and learn from mistakes instead of discarding them completely and jumping onto the next strategy.
Marketing right comes from a lot of trial and error, but understanding the need of your customers is of paramount importance. If a majority of your efforts are going towards improving customer experience, you’re on the right path ahead!