7 Costly Small Business Marketing Mistakes7 Costly SmallBusiness MarketingMistakes
7 Costly Small Business Marketing Mistakes For great insights on small business marketing, starting and managing a successful business, click hereEverybody makes mistakes and entrepreneurs are noexception. But for an entrepreneur with a limitedbudget, committing mistakes too often can be verycostly. It is an open secret in the business world thatmost of the mistakes that can be committed in businesshave been committed; so why not just learn from them,saving you the agony of committing them yourself.With that said, here are 7 costly small businessmarketing mistakes every entrepreneur must avoid:1. An Incongruent Marketing MessageTo effectively sell your product or service, yourcustomer has to "get" the marketing message. Acustomer-centric marketing message educates yourprospects and persuades them to become customers.
7 Costly Small Business Marketing MistakesToo many small businesses make the mistake offocusing their message on the product or company,instead of how the prospect would benefit bypurchasing their product. Prepare the right marketingmessage with some of these in mind:Identify the prospects problem.Explain to the prospect why the problem should besolved immediately and explain why your product orservice is the right solution to their problems.List the benefits your prospects would enjoy uponpurchasing your product and provide an unconditionalguarantee to allay any fears they may have.
7 Costly Small Business Marketing Mistakes2. "Spray-and-Pray" Marketing Instead Of PrecisionMarketingThe days of marketing as a zero-sum game are over.You must demand accountability from your marketingefforts, expecting tangible results in the form of ahealthy ROI (return on investment). Differentiate yourmarketing messages and target them to meet thespecific needs and wants of your prospects andcustomers.Many small businesses are guilty of the dreaded "spray-and-pray" marketing ideology, which inevitably drainstheir resources to the point where it very often leads totheir demise.Do not commit this same mistake, but instead practiceprecision marketing, where every aspect of your
7 Costly Small Business Marketing Mistakesmarketing and advertising efforts are measured andtracked for maximum returns.3. Failing To Realize Marketing Is About ValueCreationTo create a sustainable small business, you have tomarket something of value to the prospect andcustomer. Marketing is your business and creatingvalue for your customers should permeate through allyour marketing efforts. Strive to always over-deliverbecause customers love to receive more than theyexpect and the easiest way to do so is to develop athorough understanding of their wants and desires.4. Selling Instead Of EducatingYou must have heard about the age-old principle that"people love to buy but hate being sold to." It is a
7 Costly Small Business Marketing Mistakesprinciple that will continue to hold true for ages tocome, but unfortunately, many small businesses still failto adhere to it. The fastest way to get rid of a prospectis to try forcing a sale out of him or her.Education-based marketing, however, is a powerfulmarketing strategy to overcome this problem of beingsold to. This strategy makes use of giving awayvaluable information, educating your prospect about thebenefits of owning your product or using your service,offered to them as free reports, video cassettes, CDs, orDVDs in exchange for their contact information.It is a strategy that builds trust with the prospectsresulting in a much higher closing ratio. So, forgetabout throwing a sales pitch and try educating yourprospects instead for a higher conversion rate.
7 Costly Small Business Marketing Mistakes5. Failing To TestThe biggest mistake any entrepreneur can make withtheir business is the failure to test every possiblevariable most important to their customers. This appliesto both online and offline marketing efforts.I can understand if small businesses faced moredifficulty with market testing because of limited budgetsyears ago, but the Internet has done away with thisexcuse. It has become so cheap to conduct price testsand sales copy tests and identify what campaigns,keywords, and metrics give you the best ROI online thatnot testing any of these has become a cardinal sin.6. Not Following Up With Prospects Or CustomersSmall businesses spend a great sum of money acquiringcustomers, which makes it all the more difficult tounderstand why many of them dont follow up with their
7 Costly Small Business Marketing Mistakescustomers, or even their prospects after the "front end"sale.It has been well documented that true riches are to befound in the backend sales and the reason for this issimple. If a customer or prospect raises his or her handto do business with you, it means an element of trusthas been established and a business relationship isready to be formed. They are more then likely to buyfrom you repeatedly if you make it a point to capturetheir contact information and develop a follow-upsystem for communicating with them frequently.7. Selling To The Wrong Target MarketNever assume that your product or service will appeal toa general audience because this assumption hasprofoundly resulted in many small businesses shuttingup shop. Large businesses are guilty of this too, but
7 Costly Small Business Marketing Mistakesyou can save yourself from committing such a rashmistake by asking yourself these two questions:Who are your customers, or who is your target market?Who will use your service, or who will buy your product?Answer these questions with absolutely clarity andsegment these markets by demographics andpsychographics to zero in on your ideal customer. Thetime spent doing this correctly will add nicely to yourbottom line.Just remember that to succeed, you must be preparedto fail, so dont fear the eventual mistake but learn fromit. For great insights on small business marketing, starting and managing a successful business, click here
7 Costly Small Business Marketing MistakesRobert Moment is an innovative small business coach and author of soon to be released book,"Invisible Profits: The Power of Exceptional Customer Service". Robert specializes in teachingentrepreneurs how to successfully start and grow profitable small businesses. Visithttp://www.howtostartyoursmallbusiness.com and sign-up for the FREE Small Business Coaching 7day e-course "Turn Passion into Profit: Small Business Startup".Article Source:http://EzineArticles.com/?expert=Robert_Moment