5 Marketing Mistakes That Will Cost You Dearly

by William
business mistakes

As a business owner, marketing is key to the success and survival of your business because without it you quickly lose visibility in a crowded entrepreneurial space, filled with many similar products and services all vying for attention.

Of course, in business money coming in probably means you made the right marketing decisions other times it’s just dumb luck.

Besides, how many of us have wasted time and money trying out endless marketing strategies and tools that have brought little return? I know I have.

Now while the Internet is no doubt of one of the most effective platforms when it comes to making a business flourish, it doesn’t mean that online marketing is a fail-proof way to give your business venture the attention and prominence that it truly deserves.

Sure, you may have researched about your target audience, the most widely used online platforms, the type of content that is preferred and even the time of posting it yet you are not getting the desired results.

Well, here are five marketing mistakes that you might be making.

1. Lack of Focus

You did your research about your target audience, but you wonder why you aren’t making as many sales as the size of your target audience. Targeting too wide an audience might be the problem. Casting a huge net can dilute your brand, as you’re not seen as special or different enough. When this happens you may be viewed as a commodity – one of many offering similar products or services.

Focus on a particular niche and from there you can change or expand.

2. Doing Too Much

Sometimes in an effort not to miss out on any marketing opportunity, you are tempted to do as much as possible in the hope that something will stick especially as there are more than enough choices.

However, unless you have a team member, partner or an employee whose job is purely marketing, then you will likely struggle to keep everything going especially when you get busy with customers or clients.

When this happens blogs get abandoned, newsletters stop, tweets and posts dry up and networking is canceled. This will not look great from a customer’s perspective as it prompts the question “are you still in business?”

From a consistency perspective, it’s much better to concentrate on two or three marketing approaches or affiliate marketing programs that work and which becomes part of your on-going marketing campaign.

3. Inconsistency

Suppose your website has a blog that you use to educate people about your services and values, promote your products, share your expert opinions, etc. related to your business, then that blog becomes an important part of your marketing strategy.

So let’s say, you blog once a week or a month about a new service or how a particular service has been improved or about an upcoming product or sales. The error could be that you do not post new blogs frequently enough to keep your readers, leads and potential customers hooked on your brand.

Marketing is all about consistency, just because people have heard of your product doesn’t mean you stop reminding them.

4. Imitating Your Competitors

Too often do I see business owners making this mistake. Look, knowing your competition and following the better competition for good ideas that work is OK, But! It should not dictate your business’s daily tactics.

Yes, pick the best ideas, but remember, your primary goal is to separate your brand or business from the competition. You want to give customers compelling reasons to buy from you, instead of the competition.

You can’t be different if you are trying to be just like your competitor, can you? For example, if your competitor has three or four support staff, that doesn’t mean you must do the same.

If your competitor lowers its prices, this doesn’t mean you should. Find some other way to boost sales. You don’t see Apple reducing the price of its iPhones just because Samsung trimmed the prices of its phones, Right?

5. Too Much Advertising Based On Price

Tell me in the comments section, how many times have you heard this, oh! “you aren’t selling because your price is too high”

Selling at a reduced price or giving too many discounts may be detrimental to your business in the long-run. I’m not saying giving discounts is bad, on the contrary, it’s a good way to spur up interest and improve sales but this should not be the norm.

You want people to buy from you because of your excellent service and the fact that you can provide solutions or answers to their “wants” and “needs”. You want customers who are concerned with these attributes premium quality, unique products backed by great customer service and product knowledge as opposed to the lowest price.

Leave those customers who are too concerned about price to your competition or the big players who can afford to appease almost every customer.

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