Did you know that there are four marketing mistakes that can kill your business right now?
While you may not realize the full impact of what can happen when you make these mistakes, you should know that they can be serious.
Every marketing plan should help define the specific steps you’ll need to take towards success.
Without a plan, how can you set goals or define action steps to reach those goals? Every business must have a plan in place.
Every business owner must set goals, and then define the daily actions steps needed to meet those goals.
Is there a way to avoid the tragic mistake that many uncoached startups make?
There is a better way, and it’s still okay to make mistakes as you go. That is how you learn.
Today, I’ll share four marketing mistakes that could totally kill your business before you ever get off the ground.
Marketing Mistakes that can Kill Your Business Today
That is what people say when they talk about being in the red when it comes to their business.
Everyone wants to be in the black, but it doesn’t always happen right away. Depending on your funding or investor, you may not have had the opportunity to jet out of the gate.
That is okay.
The good news is that you can avoid these tragic marketing mistakes that could kill your business during your first quarter.
Here they are:
- Do develop a marketing plan. Run a business without a plan? There is no harm in making quick decisions, but overall you need to plan for your business properly. Starting out with a business plan is best, and it doesn’t have to be a million pages long. What you should have in hand is the data that supports that your business is a viable opportunity and that you know who your target audience is. There should be no question about it, planning is the very first step for any reason. Who do you want to buy from you? Brick and mortar or strictly online? Once you know who and what you are marketing for, then you’ll be able to set your marketing goals. Develop a plan on how to get there, and do so before you get started.
- Invest in building a brand and brand awareness. Once you have step 1, it’s time for you to brand yourself. Big brands like Levi, Pepsi, and even the Dallas Cowboys aren’t the only ones that should be branding. Branding starts with a story, and even if you fly solo as a service provider you should always have a brand and build the awareness. This takes time and money, but if you plan it right, you’ll be on the path to success.
- Don’t advertise, but market yourself. Did you know that advertising and marketing are not the same? Are you aware that there are numerous aspects of your business that require marketing? You may not realize this but the way your product looks and feels is all about marketing. How can you appeal to your target audience? What is it they want out of life and the products they use every day? This is all marketing, and it tells a story. Marketing tells a story and it is a more personal approach, while advertising is more about a blanket approach to get in front of anyone and everyone.
- Measure your investments. It’s vital that you take a look at the investments you’ve made. How have you invested so far and how will that affect you in three months? Measuring your investments and the return on investment matters for your monthly budget as well as your quarterly and yearly budget. Any activity you choose to use to market must be measured, and you’ll want to track the results so you know where your money is best spent.
There are many reasons that business fail, whether they are brick and mortar or online only. Every step you take toward your marketing campaign should be measurable, and if it’s not you’re in a tight spot.
Would you like to learn more about how you can easily leverage the power of the internet to help you build a strong marketing campaign?
If you are new to switching gears to marketing rather than advertising, and you would like to learn more strategic ways to market yourself and your brand, and how to avoid the 4 marketing mistakes that can kill your business, message me here today.