A marketing campaign, if done right helps you connect with a lot of relevant audiences, that will get people talking about your company, the products and services you provide. If marketing is done wrong will result in you losing a lot of money in both the revenues and the expense. Some common mistakes to avoid in the marketing world include
Lack of research and testing
Market research is critical because they determine the performance of each of your marketing effort. Always make sure that you have done your research work when it comes to marketing. Try testing the product with different offers, pricing, packaging, etc. and then get all the input and then see the customers reaction to see how they react to each
Marketing is not just about building your company; it is also about keeping your brand alive in the minds of consumers. A marketing strategy needs to demand an immediate response from the audience.
Marketing without a USP
You USP or Unique Selling Proposition is the one thing that will immediately differentiate you from all the competition. The USP can be a piece of information that marketing strategy can be built upon. If you market without it, it is likely that your strategy may fail to impress the audience.
Failing to capture repeat costumers
80% of your business comes from the existing audience you have and 20% from the new audience. So keep your existing audience happy as by failing to resell your product to the current costumers might have a bad effect on the profits. A new costumer will cost you five times the expense than selling the same to an existing consumer.
Lack of focus on Potential customers
Although unfortunate, Marketing mistakes can happen even with all the planning, research and the launch. But, you are not the only one who has ever experience this. Learn from this mistake as you still have a business you want to grow, try to know why did your current campaign fail? Most often than not, it is because of the reasons mentioned above. The worst mistake you can do is to give up and will most definitely result in the downfall your business. The best that comes out of a failed marketing strategy is experience, as you will know what not to the next time and how you can improve yourself to help you and your business grow in the long run.