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3 Common Marketing Mistakes You Can Avoid
There are three common marketing mistakes I see small businesses make time and time again. All of them are avoidable if you know what you’re looking for.
1.Trying to be all things to everyone
I can’t tell you how many times I’ve met with potential clients and been told their target market is “everyone”. I really thought we had got past this. But I still hear it time and time again and I’m baffled. Please listen here and listen good. Your product or service will only appeal to a sub segment of the population. This segment is more likely than most to buy your product. Find them and know who they are. This is what we call your target market. Get to know them and understand what makes them buy.
2. Lack of market research
Market research is the foundation of all good marketing plans. Without it you are flying blind. Research will tell you all about your customer, your market and your competition which is vital when marketing a business. It will also allow you to keep abreast of changes in your market allowing you to respond accordingly. My personal view is that you should integrate market research into the day-to-day running of your business. Do this and you will be ahead of the game.
3. Spending advertising money when you don’t need to
There are many small businesses spending money when they don’t need to. Here are two examples:
- Advertising on Google adwords without understanding how to do it effectively. (This can be a money pit if you don’t know what you are doing)
- Spending thousands of dollars in the Yellow Pages because it’s what you’ve always done.
These are the three most common mistakes I see. I’m sure there are many more. What are your thoughts?
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