Is your marketing campaign connecting you with the right prospects? If you are unable to adequately create value for both your customers and your business, it’s time for a strategy makeover. Oftentimes first-time entrepreneurs focus on what they must do but fail to avoid marketing mistakes. Overall, the impact of fragmented marketing oversight can easily cost your business thousands of dollars.
Below are 5 little-known factors that could undermine your marketing efforts. Learn to spot these mistakes early on and correct them before they turn into a disaster.
#1: Too much emphasis on strategy
Too much strategy without concrete implementation can kill your business. While having a sound strategy is good, bear in mind that marketing is more of tactical rather than strategic maneuver. As a marketer, you should be paying attention to your two most important responsibilities:
- To generate or sustain qualified sales leads
- To make it convenient for customers to buy.
Once you have outlined your general strategy for implementing the plan, the rest is about tactical execution.
#2: Ignoring the emotional side of marketing
It takes a lot of serious rational thinking to create a successful marketing plan. Plotting a tactical marketing maneuver or determining budgets is a left-brain exercise. However, if you think you can use logical reasoning to convince prospects to buy, you are gravely mistaken.
Consumers are an emotional lot. They seldom, if ever, use logic when making purchase decisions. What you can do is try to inject some emotion into your branding efforts. Use emotion to truly connect with them on a deeper more personal level.
#3: Marketing a bad product
Overconfidence sometimes gets the better of entrepreneurs. When they have a bad product, small business owners tend to assume that good marketing can somehow fix the problem. Well, guess what? The more you hide a product’s flaws through marketing, the worse that product is perceived by potential customers. Besides, forcing a bad product into the market is one of the fastest ways to lose your credibility.
What you should do is channel all your energy into fixing the substandard product. Until you have a product that’s the best in its region and segment, or is unique enough to stand out from the rest of the competition, you shouldn’t even be thinking about marketing.