It is a fact that business these days is more competitive than before. To survive, you cannot offer only quality product at a reasonable price. You have to know how to market effectively. Top 10 Marketing Mistakes Business Owners Make.
Unfortunately, most business owners have no idea how they can make the most of every marketing dollar they spend.
There is an interesting point here. Most businesses spend more time planning their Christmas party, while they create powerful, inspiring, marketing communications. Does this apply to your business ???
In fact, I would like to say that the financial success of any business, big or small, is directly related to how much energy and money its leaders can direct marketing to how much it would be affected by internal problems.
Now it can stop. Here are the top 10 marketing mistakes that business owners make. I cannot emphasize how important it is to be aware of mistakes, because just by knowing and avoiding them you can make a big difference in your bank account balance.
These marketing mistakes are not limited to a particular industry, they are found across the board. If one or two of these mistakes do not apply to you, congratulate yourself! You are already on the road to marketing success.
Marketing Mistake # 1:
Being an advertising victim.
Marketing Mistakes Business Owners Make. And it is easy to suffer an advertisement. You see, some advertising sales representative or agency tells you that you need to advertise because you need to advertise. All your contestants are there!
And they want to sell you “institutional” advertising rather than “direct response” advertising. The difference is obvious. In fact, it is correct in name.
Institutional advertisements are advertisements such as Coca Cola, GMH and Ford or McDonald’s. This is an advertisement where you cannot measure your results. They tell you that when someone is ready for your particular product, they will think of you now and walk into your shop.
If you are a victim of this -YOU’LL GO BROKE. The only companies that can afford this type of advertising are Coca Cola, the motor companies and McDonald’s of the world.
What you want to do and only want to do is emotional direct response advertising. Advertising where every dollar you spend is mediocre and accountable.
Marketing Mistake # 2:
Lack of a system to capture the names and descriptions of its customers and prospects
Why would a business spend hundreds of thousands of dollars to get a customer in the door and then let them walk away without getting their name, address and other important information.
Out of all the terrible marketing mistakes made, it has caused businesses to lose the most money. The real gold in any business is in the client database. It is 10 times easier to get an existing customer than to get a new customer in your business. Also, returning customers will typically pay double the fee compared to new customers.
What happens to your businesses if you have to constantly depend on selling new prospects instead of existing ones? In our own business, we obtain the name, address, phone number, fax number, e-mail address and purchasing history of all our customers and prospects. My client database now exceeds 45,000 contacts. I can simply market to my existing customers and prospects and continue to grow my business every year, without any worries about the current financial client.
Marketing Mistake # 3:
Do not try to sell your customers something on the backend
Your most likely is the one you just bought. This is your best opportunity for a more immediate sale. The keys to success are products that offer solutions to your problems. Marketing mistakes business owners make.
Can you imagine how easy it would be for a barber who has just cut and styled a client’s hair to maintain home care. I bet that a large proportion of the saloon’s professionals don’t have a successful system for it.
Just remember, your customers are never “overheated” when you first buy. Accept your first purchase immediately and let them know how much you appreciate. Then, offer them something else so that they have a chance to solve their problems and spend even more money with you!
Marketing Error # 4:
Do not implement a reference system
What is the second easiest customer to sell? Well, the answer is a reference. Unfortunately, most business owners live with the myth that if they treat their potential clients and excellent clients and provide them with excellent products and services, their clients will recommend them to their friends. INCORRECT!!.
The “lack of a referral program” is a HUGE marketing error. The last thing someone is thinking when they leave their business is: who can I send these good people to buy? It’s not because they don’t want to. It’s because we are too busy to think about it.
That is why you should have a “Customer Rewards Recommendation System”, which will give your customers an incentive to recommend it, while they are still thinking about what you just did for them.
Marketing Mistake # 5:
Do not try to activate lost customers
Top 10 marketing mistakes business owners make. If a reference customer is the second easiest customer to sell, who do you think is the third easiest customer to sell? The answer is “Lost customers.” Again, most business owners completely ignore the clients with whom they have NOT been in contact for several years, when in fact, these people are infinitely easier to sell than new clients, if you have a system in place to successfully reactivate your “lost customers”.
Marketing Mistake # 6:
Thinking that you are your client.
This next mistake is a BIG. I cannot say how many times I have heard business owners tell me that their clients are too sophisticated for this type of marketing or that type of advertising. This way of thinking, without evidence, can be dangerous.
Your business must focus on the needs and desires of your CLIENT! No other thing, not you, not what you think is the best.
Check out the yellow pages. Most of the ads inform you about the business, where they are, how wonderful they are, what they do, how excellent their quality is, how excellent their service is … basically all about them. Your ads should focus on customer needs! Your ads should tell your prospect what benefits they get if they become customers.
It is very important to keep in mind the fact that the fact that you do not respond to something does not mean that your customers will not, and you should be open to try new ideas.
Marketing Mistake # 7 :
Working ‘in’ your business instead of ‘in’ your business
Many business owners do not realize the general importance of marketing. One thing I hear all the time from business owners is: I AM TOO BUSY. I am too busy to do marketing because I am the best seller and I need to serve my clients. Or, worse, I need to take care of the staff. The problem is that you are working “in” your business instead of “in” your business. If there is something you should write and publish as a constant reminder, this is it.
Stop seeing yourself as a product or service provider BUT as a marketer of that product or service.
Or better yet,
I am a marketing business that simply provides financial services, prepares food, sells insurance, etc.
The marketer of ANY business will be the one that achieves financial success. It is often said that the best seller wins, not the one that offers the best product or service. The real money is in marketing, not doing all the tasks within the business. Setting aside time to work “in” your business instead of “in” your business will become the most profitable time you spend.
Marketing Mistake # 8:
You are not persistent and are willing to “hold on” until you have contacted your potential client enough times to justify their abandonment, constantly testing and testing new approaches until you find the hot button that sells
Too many companies rely completely on the expected success of an ad or direct mail. Marketing success is not an event ……… it is a PROCESS. The process takes time. You should never rely on an ad, an email campaign or a television ad.
Marketing requires persistence to say the least. You should work on it daily, some days, which will be downright discouraging for you. But you can’t give up. If you have done your homework and realize that you have the solution to your prospects problems, if you have focused precisely on your goal, then you should not let discouragement get in your way.
It can prevent you from succeeding!
If your potential client’s response is not as expected, try other approaches. You see, you can’t know what your potential customer wants, what is the best price, what is the best selling package or what is the best approach, until you take the test.
Mistake Marketing # 9:
You will not tell your prospects what it is about you that want to buy them from someone else instead
It is all about setting up your specific sales offer (USP). What is the benefit to your prospects in choosing to do business with you? What makes you unique? Your USP is the distinct advantage you hold in your competition. This is something that the prospect cannot find anywhere else.
Most businesses are “me too” businesses. That is, they do the same as the competition. They develop nothing that makes them different and nothing that creates desire in the possibility of needing that particular specificity.
Too many businesses to sell only! You must be committed to becoming a business that is dedicated to solving your customer’s problems.
Your USP can get you out of the market so fast that you don’t believe it! So explore your USP and start promoting today’s benefits for your customers and prospects.
Marketing Mistake # 10:
You do not change! Once you understand the mistakes, you will continue to do your business and marketing in the same old and unprofitable way
The change is difficult. Change can be difficult. The change will make you feel uncomfortable.
Top 10 Marketing Mistakes Business Owners Make. My advice …………… CHANGE! The distinction I will make is; Change with the progress!
Not only will it mean much more money to you, but it will also mean more satisfaction in knowing that you are running a business that focuses on the customer, a business that wants to serve your customer.
Simply choose one of these ideas where you think you need to work more. Focus your energy on changing only one thing at a time. Whatever you do, decide to make the changes that will improve your business. Once you think you have your first change, choose another. Focus on that and change. Top 10 Marketing Mistakes Business Owners Make.
Create a 30-day “do” list. First, determine what you want to achieve and work from there, step by step. Then start from the beginning and I guarantee that at the end of the 30 days you will have reached your goal ……….. if not MORE.
Become a successful seller!