Marketing is a tricky old business and requires lots of time and effort. Fortunately, there aren’t masses of mistakes made when marketing, as long as you’re exposing the business, you can’t usually go wrong. That’s why Walnut have listed the handful of most common marketing mistakes made, so you can avoid them in future.
Not enough time spent on marketing
In 2019, it’s absolutely vital that your marketing efforts are up to scratch. Often, marketing is placed at the bottom of the pile when it should be placed at the top. Allocating only a short amount of time a week on your marketing exercises won’t provide you with enough time to produce, execute, and evaluate your campaigns and strategies, not to mention develop one that can propel adequate leads to your company.
As a modern business, if you can’t devote more time to your marketing strategies, you won’t be able to regulate what benefits you and what doesn’t. If time can’t be spent, then it may be worth investing in a full-service marketing agency, like Walnut who can invest the time and effort into your marketing strategies and provide a personalised report to suit your needs.
Targeting the wrong audience
As a consumer, each and every one of us knows what it’s like to be targeted for an advert we have no interest in. We’re numb to the marketing strategies that don’t relate to us, that’s why it’s essential companies don’t waste time and effort on trying to target the wrong audience.
Look at previous customers of yours and categorise these consumers by their most relevant characteristics e.g. needs, attitudes, behaviours, and location, rather than taking a more generalised approach. Once these are considered it is easier to evaluate how your product or service will benefit your customer’s existence.
In a social media age, it’s even simpler to market to a niche audience. Social advertising tools allow you to concentrate on specific user groups, typically defined by geography, interests and social behaviours. Targeting smaller groups is cheaper and more effective as you’re not marketing to people who are unlikely to become customers.
Being consistent with your brand and your business materials is key in producing the best kind of results. If the materials you are putting out to the world, don’t match, your customers are going to feel confused and unsure about what you stand for as a business.
Your marketing establishes the initial imprint your customer has of your company and you must carry that brand consistency throughout all your materials and through the experience of delivering your product or service.
There’s no right or wrong answer when it comes to observing the competition. Being obsessive and tracking all of your competition’s movements is not healthy, but neither is avoiding them completely.
Learn from the failures and successes of your rivals because if you don’t pay attention to what’s already out there, you’ll accidentally become an imitation project, even if it’s unintentional. This also allows you as a business owner to discover alternative offerings so you can stay ahead of the game.
Blowing your budget on several marketing strategies
When you’re out of your depth with something you’re not familiar with, it can be quite easy to throw your money at any marketing strategy that seems relevant. This is a common mistake, particularly when owners have their launch budget. Investing in several marketing strategies from various agencies can often leave you out of pocket, quicker, with limited results.
You could also jeopardise your marketing analytics by promoting your business to too large of a market. Instead of blowing your budget on several agencies all promising the world, look at a reliable marketing agency offering a full service, utilising their department’s services, from design to PR and content, videography and web development, who will ultimately choose the services which your company is most likely to benefit from.