Everyone makes mistakes in marketing – there is no fool-proof, sure-fire method to go about marketing your brand, only through grit, patience and learning from experience. (Reading our blog for tips and tricks helps too!)
We’ve been there and made mistakes along the way. But we learn and evolve as times change, and so should your marketing strategies! Many brands are focusing on the wrong things. Especially for SMEs lacking in time and resources, you need an even more focused and dynamic marketing strategy to propel your business.
Avoid these 7 marketing mistakes for even better ROI, guaranteed!
- Not Having a Solid Marketing Plan in Place
Without a marketing plan, you lose sight of your overall approach and brand direction. For a solid plan, invest time and thought into deep research and analysis to come up with a marketing plan that answers the questions: “How will people benefit from my brand?” and “Why should they care?”
- Targeting the Wrong Audience
Or worse, not targeting any audience at all. For any marketing to be effective, you must deliver the right message to the right audience for maximum impact. Being too universal in your approach is a waste of precious resources. Be specific.
- Making Assumptions About Your Audience
If you have specified your target audience, go the necessary step further to specify their needs. Gen Z are not Millennials – segment each demographic and know how to market to them, individually. Are they digital natives? What are their needs that your brand can fulfill?
- Not Using a Multi-Channel Approach
Establish a single brand experience and distill it across multiple channels for the most effective reach to your target audience. The best marketing channels are the ones where your target audience already are – meet them there.
- Focusing on Acquisition Rather than Retention
There’s nothing wrong hankering after new customers but a high customer retention rate is proven to be far more profitable. Do not neglect to capture the interest of your existing customers and continue to deliver value to them.
- Failing to Evolve
A brand’s worst fear is becoming irrelevant. Marketers have to develop new strategies, follow new trends and brainstorm content ideas of value to stay relevant. Technology, consumer preferences and brand needs are constantly on the move, and so should your marketing strategy.
- The Biggest Mistake? Not Doing Any Marketing!
Many brands are tempted to scrimp on marketing budget because it’s expensive. But marketing gets your brand name out there, and for a long time even. Marketing makes your brand and your brand is what sells.