Finance

7 Preventable Marketing Mistakes Business Owners Make

marketing mistakes business owners make

Every person in the world, each one of us is a salesperson. We go about marketing ourselves to everyone around us and even reach out to others across time and space. E-commerce has changed the way B2B and B2C entities need to operate. Sales and marketing can be challenging as well as exciting.

While no one can stop you exploring newer combinations of old activities, learning through trial and error method is passe. The online competitive market place will not wait for you to catch up.

Small businesses can survive and even hit it big occasionally simply due to laser sharp sales and marketing activities. Customizing what works best saves resources, time and efforts. Generation of exclusive live transfer leads is dominating e-commerce businesses.

Unless You Make Mistakes, How Will You Learn?

There is something that scares us from taking risks with our beliefs. Complacency breeds danger. However, anticipating something can be a ‘mistake’ helps you take appropriate corrective action faster. Mistakes are the trigger to damage control. Without mistakes, people do not realize they are travelling on the wrong roads leading them away from success.

The Mantra is ‘Avoid Mistakes If You Can’

  1. Not Planning Your Sales and Marketing

What seems to be a great idea to entrepreneurs and manufacturers is often not received favorably by even their niche audience.

On the other hand, products or services which can really make a difference might take a lot of time to become common. As the masses realize their importance and the way it can change their lives, popularity begins it’s upwards journey.

Hoping to achieving success without giving due importance to sales and marketing is a huge mistake. You can compare this part of your company with the growing tip of plants. Yes, growth ensures survival especially in a competitive environment. Online market place throws up newer competitive ideas like ways to get best auto insurance leads every minute. And it doesn’t take even a day for something to go viral and upend past, conservative successful practices. Creating a demand where none exists is the aim of sales and marketing. Marketing plans are made continuously because they become obsolete with time.

  1. Being Afraid To Stand Apart By Being Different

Apart from me-too brands, entrepreneurs are geared to introduce new concepts, different products and services. Whether competition in any form exists or comes up quickly, you need to market your business effectively to be taken seriously by consumers. A unique selling proposition – USP grabs attention and persists in consumer minds. A successful business is one that makes consumers buy their stuffs even if they can get on without it.

  1. Selling Without Targeting

Businesses and organizations in the initial stages could do much better if they concentrated on their target, niche audience. Online web presence may announce your products / services to the world; but following up interests beyond your geographical location and economic capability just does not work. So even though smaller beginner wants to grow by reaching out to the masses, not everyone is a potential customer.

Messages and marketing strategies that have a direct approach to select audience works wonder to consolidate your position in the market place.

  1. Word Of Mouth Is Omnipresent and Omnipotent

Word of mouth works behind the scenes whether you are aware of it or not, whether you want it or not. Customer satisfaction is the key which brings out conversations over your products / services. The flip side is unsatisfied customers from any unfortunate glitch, lapse results in adverse publicity and maybe even lawsuits. Confident businesses do encourage customers to spread the word through a number of sales and marketing promotions. Many loyal customers are believed to have tried something for the first time just for the heck of it.

Cautionary note: never, ever ignore / underestimate what word of mouth can do.

  1. Not Changing Over To Digital Technology

Whether you realize it or not, social media is as old as civilization itself. Going digital, our innovative IT technology is only trying to put it in everyone’s hands as early as possible. Digital social media has transcended time and space for instant communications. A great stride in progress since air travel overcame borders.

You can see why spreading sales and marketing nets can generate immense information either relevant or irrelevant to your business. Professionals for Applied Data Analytics –the greatest present demand at the forefront of IT technology, are still uncommon. Social Media includes quite a few service providers and reaches out to different audiences. Smaller businesses can focus resources to maximum efforts for bigger results through data analytics. Changing short term goals keeping in mind your destination means navigating the new digital information highway.

  1. Unwilling to keep up with What’s Trending

Small businesses cannot grow because they do not know how to expand their activities. Routines offer security that often make you smug. A perfect situation for competitors to overtake your market share. You simply cannot ignore staying in tune with changes in the market place. You have to meet new challenges with new activities like buying insurance leads online. Those who manage to lead are at the forefront because they go one step further: they anticipate changes and their effects. Shocking surprises result in scurrying for cover in order to survive the latest onslaught.

  1. Being Complacent About Competition

No one, how big or small is invincible. This is especially true of the constantly unfurling competitive online market place. Standing apart from the competition means being aware of leading entrants in the market place. Social Media has made espionage much more covert than ever before. Uncovering new marketing opportunity is the need of the hour rather than contentedly waiting for growth to occur with time. Search engine optimization is the new industry that equips businesses to race ahead.

Also Read: Running a Small Business? Then Never do These Cash Flow Mistakes

Conclusion

Focus on what is needed urgently through data analytics. Online competitive markets are changing overnight, as newer products / services eclipse existing ones. Promote your small business in the best possible professional way and be ready to change tracks if you want to stay in the race.

About David Roskethi :

I am David Roskethi, a writer at ProspectsForAgents for past 2 years. I hold a passion for writing on topics such as finance and business and I have been lucky enough to contribute my work on a couple of great sites. A writer by day and a reader by night.

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About Ajeet Sharma

My Name is Ajeet Sharma Financial Blogger & Founder of Financegab.com. We are a personal finance blog dedicated to personal finance & financial planners. The main aim of this blog is to help people to informed financial decisions.
View all posts by Ajeet Sharma →

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