As a business owner for some time, I’ve been blessed to have worked with a wide range of people, businesses and industries. Based on my own experience, I have often observed six common errors and misconceptions that small-scale entrepreneurs make in their marketing. It’s surprising that the patterns don’t alter across sectors, but they do lead to loss of income and excessive expense, and especially if you’re working on a tight budget, these mistakes could be catastrophic.
If you’re among those small business owners who want to perform better than your average competitors, This article is ideal for you. Here are six common mistakes that small-scale business owners make and switched-on operators must stay clear of.
There is no marketing plan.
Do you have an easy time finding the most current plan for the way you plan to promote your business in the coming six months? Planning to be a failure?
Although establishing a marketing strategy is usually seen as something that is only for large businesses, it’s equally relevant or even more important for small-sized businesses. At the same time, larger corporations where a misstep in strategic planning might not be as significant making a mistake within small-sized businesses can be enough to put the company out of business.
It’s amazing how many opportunities arise and become more apparent as you go through and follow the marketing planning process. I recently wrote the marketing plan of one of our fashion clients that identified both long and short and short-term objectives. In order to get some cash at the bank,’ we decided to hold an auction to dispose of some of the items in the showroom of the client, making space as well being a limitation on working capital.
The sale was extremely successful, and the owner of a small business was thrilled to find a few thousand dollars in their bank account! It may seem like a straightforward idea; however, it’s often difficult to think of fresh ways to market your company and increase sales when you’re the one who is involved all day, every day. A different supplier’s point of perspective and new perspectives can make all the difference.
Failure to plan is the best way to avoid failure. Through the process of planning marketing, the business can determine to refine and effectively communicate its product or service to itself as well as its team and for its clients. In this way, the business will be able to understand the advantages of its work and how to put the same in business.
You aren’t sure who your target Public is
Do you know, for each service or product that you offer, who your intended audience is?
The most effective and clever marketing choices depend on being aware of and specifically knowing the target market. Try to be as precise as you can by your definition. You are having the smallest number of people you can market to could be a benefit.
For instance, if you’re a gym, then the main product you offer is fitness. At different times of the day, it is possible to attract various types of customers – for instance, during the day, the clients could be moms and retirees, while the afternoon and prior to work hours might be more suitable for young professionals. Both groups use similar equipment and might have the same motivations. However, each is different in its demands and the most popular choices when they go to the gym.
Marketing campaigns must be designed for each audience segment and customized to meet their specific preferences whenever it is it is possible. As we have seen, the concept of one size doesn’t make it all.
There is no one assigned to marketing.
Do you know an employee in your company who is accountable and is accountable to you for your marketing?
If everyone is accountable for marketing at your company, there is no way to know who is. Marketing through committees also does not perform. While it is crucial to consider different perspectives at the end of the day, marketing should be given to a single person who is fully accountable and responsible for the entire marketing role in your company.
Is having one person accountable for marketing make sense in large and small-sized businesses? When I think back to a position I had years ago, as a manager of marketing as the sole person in charge of marketing for the company. While it was sometimes difficult and isolated, I was only aware of the accomplishments I made during my time there when I left the company. It was evident in the way they eventually hired three people to take over my previous job!
If you are a small-sized business owner, you might not have the money the cost of hiring a full-time senior marketing manager. It is nevertheless important to assign someone who is responsible for marketing, no matter whether it’s an assistant to the marketing department, a junior member of staff, or you are an outsourcing marketing provider.
No Tracking Mechanisms
Each marketing campaign Do you have the right mechanisms to track the outcomes? In this age of digital communications, the tracking of campaigns is bound to get easier and more cost-effective. If you are unable to monitor your results quickly and efficiently, is it really worth your time to invest in a campaign whose results are based on your gut feelings?
My suggestions for how to evaluate campaigns include:
Unique URLs (website pages) that are tracked using applications like Google Analytics
Virtual numbers can be used for large-scale campaigns
Coupon codes and
Special offers are only available during one campaign
No consistent templates for brand names
Do your company’s tools and marketing tools conform to your brand and adhere to the style guide template?
The issue is whether your brand’s image appears consistent across all your business and promotional tools. The things to look over include invoices, business cards and letterheads sites, blogs, websites as well as Yellow Pages advertising, and more… It’s very simple overtime to design a variety of templates for your business. The receptionist designs a fax form while your salesperson drafts a follow-up sales letter, and your account manager makes a debt collection firm that all bear your name and logo on them, but they may appear completely different.
Making a strong and consistent branding template and adhering to the strict guidelines for style helps everyone within your company make use of your brand in a way that is consistent. I recently assisted one of my clients to create an overall style guideline since the visuals of their business changed over a five year period.
Although changes were minor, they were evident in the process of observing them from start to the end. The presence of a distinct and consistent brand utilized correctly throughout all areas of your business tells your clients that the service you provides are trustworthy and your business is a solid, organized business.
Do you have a professional who can compose the text you need for those marketing instruments?
Have you ever you ate at an establishment and found spelling mistakes in the food menu? It’s a common error, and I come across it at least once per week.
In my company, we follow the procedure of having two people from outside review any document before it is being published. We’re not perfect, I’m sure, but I’m hoping we spot any mistakes before they’re published. Are you able to afford for your customers to think that you aren’t able to spell? Maybe it’s time to seek out help from outside.