11
MONSTROUS Small Business Marketing Mistakes and How To Avoid Them.
?>
Download eBooks and Software
 Satellitedirect - Highest Converting Tv To PC Product
Don't Have A Website? Create A Money Making Website In Just Minutes For Free With Our Brand New Tool: Http://professionalcash.com/webtool
The World's #1 Lottery System For Lotto.
Ken Silver's Multi-million Silver Lotto System! 1 Minute Setup, Winning 9 Out Of Every 10 Games Since 1991. Affiliate Commission Now 75%! Earn Up To $243/sale. Low Refunds. Visit: www.lottoaffiliatecenter.com
Paleo Recipe Book - Brand New Paleo Cookbook
Brand New Paleo Diet Cookbook With Over 370 Recipes. Pays 70% Commission On This High-quality, Easy To Sell Product. Get Banners And Promotional Material At Http://paleorecipebook.com/affiliates.html
Human Anatomy & Physiology Study Course (75% Comms
Converts At 9%! *hot Seller* Strong Niche & Few Affiliates To Compete With! Target Students, Educators, Practitioners, Trainers, Nurses, Paramedics All At One Site! Affiliates - Start Making Money With This Niche Now!
Surveyspaid.com
New Design Is Getting *insane* Conversions (4%+)! If You Promote Surveys, You Need To Give Our Site A Try- We Promise You Will Be Happy! We Use Geotargeting And Downsells. Converts Great With International Traffic. Email Followups With Your CB Id!
Articles Index >> Marketing
11 MONSTROUS Small Business Marketing Mistakes and How To Avoid Them
by Susan Carter
Increase your profit potential by identifying – and avoiding – these 11 marketing mistakes.
MONSTROUS Marketing Mistake Number 1: Sinking a Fortune Into an Unproven Product
Is your business idea built on market research or a hunch?
Entrepreneurs often fall in love with their products or services before they determine if there's a real market, and they throw fistfuls of money into the venture. If you, your spouse, your uncle, and your neighbor think you've got a winning idea, that's simply not enough qualified input to run to the bank and drain your savings account!
Avoid this mistake by:
- Conducting your detective work (research).
- Testing your business idea with the real marketplace.
MONSTROUS Marketing Mistake Number 2: Believing That "If You Build It, They Will Come"
Do you think you have a product or service that will practically sell itself?
Trust me - you don't.
There is a misconception among small business owners that, with the right product or service, your customers will simply "find" you when you open your doors for business. Whether you have a physical storefront on a corner lot in the busiest part of downtown, or a graphically pleasing online storefront offering easy access to your hot products and services, your customers will not find you if you do not market to them.
The day you open for business is the day you put on your "marketer's hat" and never take it off. You must consistently move product, or schedule service time.
To stay in business you must profit.
To profit you must sell.
To sell you must market.
The good news is that, with a marketing strategy, you take the control out of your potential customers' hands and put it into your own. If you have a product that will "practically sell itself," then your marketing job will be easy. Just remember that the job must still be done.
Avoid this mistake by:
- Defining your niche market and USP (Unique Selling Proposition) that differentiates you from your competition.
- Developing a marketing action plan and strategy to reach your niche market with your USP message.
MONSTROUS Marketing Mistake Number 3: Trying to Reinvent the Wheel
Marketing is an age-old practice with some very basic principles. Yet, I'm sure you've read many marketing information products that stress the importance of being innovative and creative with your marketing efforts. It's easy to get caught up in the innovation process and forget that the REAL focus should be on results.
Avoid this mistake by:
- Emulating success instead of trying to create something completely new. Please note that I am not saying, "copy" what others are doing. Look at the basic structure of a tactic, campaign, advertisement, or event and use the same formula as a basis for developing your own tactics.
- Realizing great marketing ideas are used over and over again with just the right twist to make them fit a specific business. Focus on results, and choose imitation over innovation to create your own twist on a proven, winning technique.
MONSTROUS Marketing Mistake Number 4: Over-Preparing and Doing Nothing
The fear of failure can be powerful. So powerful that we do everything we can think of to prevent it. Yet, there is a point at which we are so busy preparing, organizing, and researching to prevent failure that we never get around to the actual marketing of the business. Here are two things to remember:
- Activity is not productivity.
- In order to sell a million of something, you have to sell the first ONE.
Avoid this mistake by:
- Doing something! If you believe in your business and have done your detective work, it's time to dive into the marketing pool. Start small, track results and build from there.
- Not being afraid to make a mistake. Mistakes are the entry to success. At the very least, a failed promotion means you have SUCCESSFULLY determined what promotion does not work. And, to learn what does NOT work is a valuable tool in getting you closer to discovering what WILL work.
So, go ahead. Fail a little. It will make your eventual successes even sweeter.
MONSTROUS Marketing Mistake Number 5: Boredom
When I was working for an ad agency many years ago, I had one client that was running an extremely successful ad campaign. After about six months, I received a phone call from the client. He wanted to develop an entirely new campaign. When I asked, "why?" he simply said, "I'm bored with the one we have."
What?
That client may have had the money to spend on a new campaign due to "boredom" but you and I usually don't. Yet, I've often seen my small business clients switch promotions for the same reason. This is detrimental to your business!
"Losing money" is a reason.
"Boredom" is not.
Avoid this mistake by:
- Remembering that, what is old to you, is new to an untapped target market. If you have a promotion that is consistently getting you results, stick with it until results show you its time for change.
- Testing new promotions without abandoning the current one. Then track results. Never swap a current promotion with a new one that hasn't been tested.
MONSTROUS Marketing Mistake Number 6: Relying on Networking to Generate Sales Leads
Joining the Chamber of Commerce and schmoozing at association meetings can put you in contact with vendors and possible joint venture partners, and will be invaluable exposure for you as a community supporter - but it will rarely generate substantial sales leads.
Everyone else who attends these "meet and greet" assemblies is there to do the same thing you are. You may be able to make some valuable contacts for future ventures and promotions, but one-on-one networking is time-consuming and results are unpredictable.
Avoid this mistake by:
- Treating networking opportunities the same as any other marketing tactic. Track results by determining your costs and measuring your payback.
MONSTROUS Marketing Mistake Number 7: Doing What Your Competitors Do
It's important to be aware of what your competitors are offering, but do not let it dictate the strategy you use for your own business.
If your competitor wants to be the low price leader, let him. Don't try to become the "lower price" leader. Chances are this will lead you to financial problems because it will thrust you into an ugly price war.
If your competitor wants to tout low prices, then you focus on value. Bargain hunters don't necessarily want the lowest price. They want the best VALUE. Make what you have to offer something of value.
Avoid this mistake by:
- Finding an unmet need or want of your target market, and fill it to differentiate your products and services from your competitors.
- Giving customers a reason to choose you over your competitors. Define your USP, and identify your niche market.
MONSTROUS Marketing Mistake Number 8: Not Targeting a Specific Market
If you believe your market is "everybody," you will struggle to attract people who will buy from you. The value of target (niche) marketing is one of the toughest sells I make to my clients. They understand the logic of it, but the "fear of losing a potential customer" gets the best of them.
Avoid this mistake by:
- Viewing the practice of niche marketing as inclusive, not exclusive.
Think of your business as part of a person's support group. It's logical to say, "Everybody needs a support group so my business should attract everyone." But, will it? People - your customers - want to go to a support business that understands their specific concerns, needs, and wants. Make sure you ARE that business by targeting a niche market.
MONSTROUS Marketing Mistake Number 9: Targeting a Market You Can't Reach or One That Can't Afford You
Targeting a niche market is the smartest way to market. Yet, targeting a market that is too specific will limit your ability to succeed long term. For example, a market that might be too specific would be: female pilots under the age of 35 who fly ONLY New York to London flights. That's a pretty narrow market to sustain your business in the long term unless you can capture the ENTIRE market with a product or service that has a high profit point and customers need to use or replace it often.
In that same vein, a market that is begging for the service or product you have but cannot afford it will also be a business impossible to sustain. Never compete for someone's rent money. Your target market must have the means to buy your products and services.
Avoid this mistake by:
- Creating your customer profile to identify characteristics of your potential buyers,
- Identifying a niche market,
- Examining the long term potential for new and repeat sales.
MONSTROUS Marketing Mistake Number 10: Focusing On Acquiring New Customers Instead of Promoting to Current or Previous Customers
When you first start a business you have little choice but to focus on gaining new customers. The cost of finding those new customers can be expensive, which is one reason it is so important to really target a specific niche. However, once you've made just one sale, you're ready to start looking at other marketing options.
Wouldn't you like to:
... slash your marketing costs by half or more?
... reach proven buyers for your service or products?
That little goldmine of proven buyers available to you "on the cheap" is already yours in the form of current and previous customers.
Any respected marketing guru, past or present, online or offline, will tell you that the biggest asset your company has is your customer base.
Avoid this mistake by:
- Realizing that, when a sale is finalized, it is the beginning of your relationship with that customer, not the end.
- Offering additional products or services to current customers. If you don't have your own to offer them, then develop a referral, joint venture or product bundling program so you can reap profits from your already-interested (and buying) customers.
MONSTROUS Marketing Mistake Number 11: Not Systematically Following Up on Leads
The least expensive part of business is making the sale. The most expensive is generating leads - finding the people who are interested in what you have.
Once you find people who express an interest in what you have to offer - whether they buy from you or not - you MUST develop a follow up system that will keep marketing to those interested prospects. A person who has expressed interest in your products and services is far more likely to eventually buy from you than someone who did not respond at all!
Avoid this mistake by:
- Curbing the tendency to become obsessed with generating more leads until you have exhausted the ones you already have.
- Developing an easy, systematic follow up for leads, designed to convert a "maybe" into a "yes."
About The Author
Susan Carter helps business owners “do more with less” to operate and market their small and growing businesses. She is the author of How To Make Your Business Run Without You, and SPLASH Marketing for Overworked Small Business Owners. Carter offers FREE book chapters, and distributes free business-building advice in her twice-monthly ezine, SuccessExpress Press, available at http://www.successideas.com
susancarter@successideas.com
?>
News on Internet Marketing
Cyberset Distinguishes Itself from Other Internet Marketing Companies with Its Dedication to Personalized Service
LOS ANGELES, Feb. 3, 2012 /PRNewswire/ -- As the private sector aims to further exploit the many benefits of e-commerce, more businesses are seeking high-quality Internet marketing services. For comprehensive ... Internet Marketing Company Reveals Results of the Poll, "Which Link Building Strategy Works Best For You?"
Internet Marketing Company (http://www.internetmarketingcompany.biz) Reveals Results of the Poll, "Which Link Building Strategy Works Best For You?"Los Angeles, CA (PRWEB) February 04, 2012 Internet Marketing Company, a search engine marketing company, announced today the results of the poll , "Which Link Building Strategy Works Best For You?" on the Facebook® platform. ... Internet Marketing Expert Cheryl Heppard Teaches Strategies to Attract Clients and Increase Profits
Host of Get Busy With Clients to lead monthly group coaching call for members on how to implement a strategic marketing plan that attracts clients and increases revenue.West Bloomfield, MI (PRWEB) February 08, 2012 Cheryl Heppard, business and marketing coach, will be leading a group coaching call for holistic practitioners, healing professionals, coaches and solopreneurs for members of her Get ... An Internet Marketing Company With a Big Heart
Web Marketing Pros is Donating Internet Marketing Services to Outreach International(PRWEB) February 02, 2012 Jacksonville Beach, Florida based Web Marketing Pros is donating Internet marketing services to Outreach International, an organization which provides long-term investments to generate growth in marginalized regions and countries.“We will be giving Outreach International free Internet ... People Polled on "What is the Best Link Building Strategy to Get a High Page Rank Website?"
Internet Marketing Company ( http://www.internetmarketingcompany.biz ) Reveals Results of the Poll, "In Your Opinion, What is the Best Link Building Strategy to Get a High Page Rank Website?" on the Facebook® Platform (PRWeb February 07, 2012) Read the full story at http://www.prweb.com/releases/seoservices/internetmarketingconsult/prweb9175836.htm Internet Marketing Agency Command Partners Expands
Opens New Office, Announces New Services And WebsiteCharlotte, NC (PRWEB) February 09, 2012 This week, interactive marketing agency Command Partners launched its new website in addition to opening up a new office in south Charlotte. The firm is also adding new services as the boutique firm continues to grow.After adding six new people to the firm, Command Partners opened up a 2,036-square-foot ... Audience Management and Internet Marketing
From March 22 to 23, 2012, the annual eTarget conference is taking place in Moscow. It is the premier event in Russia where businesses interested in online marketing and brand management can meet brand marketers and proven practitioners, learn and get inspired from detailed case studies. Paton Internet Marketing Recognized by Constant Contact’s Corporate Office
As a Pillar Trustee and a proven leader in the community, Todd Paton and Constant Contact have brought highly successful outcomes to Paton Marketing Clients. Paton Marketing was recently recognized by Constant Contact as an exemplary business partner. Paton Internet Marketing is a progressive leader in the field of Search Engine Optimization, Website Development, and [...] Local Lighthouse Changes How Internet Marketing and SEO Companies Do Business With the Introduction of New Online Portal
The Orange County based Internet Marketing and SEO Company, Local Lighthouse, has announced the arrival of its new online portal, PARC, making it easier for clients to assess the performance of their site. Through PARC, Local Lighthouse hopes to make search engine marketing more accessible and easier to understand for small businesses across the country.Tustin, CA (PRWEB) February 02, 2012 Local ... Blizzard Reservation Engine Expands Reach With NEW Escapia API
Blizzard Internet Marketing, Inc., developers of the Blizzard Reservation Engine (BRE), are proud to unveil a newly developed website for The Vacation Company of Hilton Head Island. The website features a booking engine with real-time integration with Escapia, a popular property management software used by vacation rental managers.Glenwood Springs, Colorado (PRWEB) February 07, 2012 The Colorado ...
|
