Are you wasting time and money on your business marketing efforts?
In Money-Wasting Marketing Mistakes: Part One we highlighted 5 ways to send your marketing dollars spiralling down the drain. Check out these additional 5 marketing mistakes, and keep your business from losing money now!
Focusing your marketing on you or your company.
Every business owner is proud of their company. And it might seem obvious to mostly say things in your marketing like:
In business for over 17 years…
Award-winning company…
Cutting-edge products…
The problem with these tactics is that they are promoting the business rather than addressing the need of the potential client. It isn’t that company information shouldn’t be shared, but it should not be in your highest-level information. Try shifting your message to answer the questions that are in the mind of your target audience. How can you make their lives better or easier right now? That’s the marketing angle you’re looking for.
Failing to take advantage of free or low-cost marketing tactics.
There are plenty of ways to spend your marketing dollars. Some methods are quite expensive and well worth the investment. But there are also dozens of free and low-cost marketing tools or practices that are worthy of your time and attention. By incorporating some of these excellent marketing ideas into your marketing mix, you can significantly stretch your marketing dollars.
Not knowing which marketing tactics are working and why.
It can be difficult to pin down your key performance indicators (KPIs) when you begin a marketing campaign, but failing to know which part of your marketing mix is producing results (and conversely, which parts are major money wasters) is one of the easiest ways to say goodbye to your marketing money. Nearly all marketing efforts can be measured in some way. Monitor your KPIs and refine your campaigns accordingly.
Too few follow-ups.
Persistence and repetition are crucial for marketing success. A single follow-up to any customer connection or inquiry is completely inadequate to a solid conversion rate. Sometimes you’ll hear the adage “Six to make it stick,” which is a simple way to remember that consistent and repeated follow ups are the key to marketing success. Your prospect may be ready to buy next week or next month. Will your business opportunity be front-of-mind for the client?
Basing your marketing strategies on personal preferences.
At Calvert Creative you’ll hear us say “Pretty is over-rated.” It doesn’t matter whether your website is cute, clever, or your favorite shade of orange, what matters is whether it brings in leads and converts them to business. Likewise it just isn’t important whether someone on the team thinks a particular tactic is “old-fashioned” or “cutting-edge.” Does it convert? Is it contributing to the bottom line? Split test all your marketing practices and get rid of the ineffectual components, no matter whose pet projects they are.
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