As business owner Adam Osborne once said, ‘Money coming in says I’ve made the right marketing decisions’. Yet how many of us have wasted resources trying out endless marketing tools and techniques that have brought little return?
Marketing is key to business success and survival because without it you quickly lose visibility in what is a crowded entrepreneurial world, populated with many similar professions vying for attention.
To make sure you are maximising your efforts watch out for these marketing mistakes that could mean you are losing potential clients and revenue…
Lack of focus – you may be targeting too wide an audience which can dilute your brand, as you’re not seen as different or special enough. When this happens you may be viewed as a commodity – one of many offering similar products or services. Peter Drucker, the management guru, wrote, ‘The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself’. It’s difficult to do this when you open your doors to ‘everybody’!
Your message is too vague – to be known and remembered it helps if you communicate a strong message about what you offer and one that is relevant for your potential clients. And it must clearly relate to the problems they want solved and the benefits they’ll achieve from working with you.
Doing too much! – sometimes in an effort not to miss out on any marketing opportunity there is a temptation to do as much as possible in the hope that something will STICK- particularly as there is more than enough choice! But unless you have a team member whose job is purely marketing then it’s likely that you will struggle to keep everything going… particularly when you get busy with clients.
When this happens blogs get abandoned, newsletters stop, tweets dry up and networking is cancelled. This doesn’t look great from a client 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 that work and which become part of your on-going marketing campaign.
Failing to review – tracking and monitoring may not be what gets you out of bed in the morning (it’s not one of my favourite activities), but I have learned to look at the numbers and to check to see what’s working. Over time it gets quite interesting and you can start to spot the trends. When this happens you’ll learn from and transfer your experience to the next campaign with greater success.
No marketing strategy and plan – without this in place marketing becomes hit or miss as the tendency will be to make it up as you go. Ultimately, this will show up in the peaks and valleys of clients and money which can be very stressful to manage.
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