10 Marketing Mistakes

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After 40 years in the marketing communications industry, Love Scott & Associates has learned some pretty valuable lessons when it came to marketing during a recession. Here are the 10 biggest mistakes marketers make during a recession.

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10 Marketing Mistakes

  1. 1. The 10 Biggest Mistakes Marketers Make In Tough Times
  2. 2. 1. The BIGGEST mistake marketers make during tough times is adopting a bunker mentality. Myth: It’s a waste of time and money to continue spending on marketing during an economic downturn.
  3. 3. 2. During tough times, marketers make a mistake when they continue their current message as if nothing has changed. Myth: If I act as if nothing has changed, nothing will.
  4. 4. 3. During tough times, marketers make a mistake when they don’t closely track results with the expectation of making changes based on the findings. Myth: During a recession all bets are off and trying to track marketing is an exercise in futility.
  5. 5. 4. During tough times, marketers make a mistake when they don’t meet their customers where they are. Myth: Even in recessionary times, my customers are right where they’ve always been.
  6. 6. 5. During tough times, marketers make a mistake when they market what they want to sell rather than what their customers want to buy. Myth: I know what my customers want because they have a buying history with me.
  7. 7. 6. During tough times, marketers make a mistake when they don’t recognize an opportunity that presents itself. Myth: In a recession, opportunities are hard to come by.
  8. 8. 7. During tough times, marketers make a mistake when they let their expectations outgrow their budgets. Myth: I can safely cut back on marketing resources during tough times without doing long-term damage to sales.
  9. 9. 8. During tough times, marketers make a mistake when all their efforts and resources are directed at acquisition to the exclusion of retention. Myth: When times are tough, I need to concentrate on acquiring new customers to have any chance of surviving, let alone growing.
  10. 10. 9. During tough times, marketers make a mistake when they don’t listen carefully to the counsel of the advisors they are paying for. Myth: I need to be on a high level of alertness, ready to react to the changing market.
  11. 11. 10. During tough times, marketers make a mistake when they don’t make public relations a bigger part of their marketing effort. Myth: To prosper in a recession, I need to put all of my marketing resources into advertising and promotion.
  12. 12. Thank You. For more information, and to experience “a Different Kind of Ad Agency,” contact: http://www.lovescott.com

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