Top 5 Marketing Mistakes and How To Avoid Them
2nd December, 2008
1) Relying on one element of the marketing mix
If you rely on just one type of marketing you are missing out on thousands of potential customers that will never see/hear your message. By using a mix of media your message stands a far better chance of registering with your target audience. You are more likely to remember something if you use all your senses. Successful marketing will often use direct mail (touch/sight - can also include smell and sound), radio (hearing) as well as press or outdoor (sight).
By engaging with your message more than once their is a far greater chance that it will be remembered.
2) Ignoring your customers
In most businesses 80% of turnover comes from the top 20% of your customers and as a consequence many businesses fall into the trap of only having regular dialogue with the top 20%. Instigate a CRM programme and ensure that you reach all of your customers and prospects regularly (but don't pester them!).
- Send them a regular newsletter (by post preferably) and keep them up to date with product developments, offer or relevant industry news.
- Thank them for their business after the event.
- Call them and ask them how things are going.
- Leave the comfort of your office and visit them.
This will help to strengthen and develop your relationships and will generate loyalty and further business from your customers.
3) Going Ex-Directory
Many companies make the mistake of viewing marketing as a cost rather than an investment and when difficult trading times start to bite mangers look to cut costs. Cutting your marketing activity has the same effect as going ex-directory - new customers can't find you. If your competitors continue with their marketing activity then you may as well shut up shop. Marketing brings in new enquiries and reminds your existing customers to continue to use you.
Cut your marketing budgets at your peril - you have been warned!
4) Marketing by committee
Friends, colleagues, employees and family all have an opinion about marketing. Why? Because marketing is about people. The more people you ask about a marketing idea the more you can expect people to say "I wouldn't do it like that, I'd do it like this". These people are usually not your customers so who cares what they think? My advice is this; the only people that matter are your customers so get professional advice rather than the 'pearls of wisdom' from well-meaning acquaintances.
5) Scattergun Approach
One size does not fit all. Segment your target audience and adjust your message to them. For example we all need a coat when it's cold but would you approach the teen market in the same as way as the over 60's? If you product/service has appeal across a variety of defined target audiences then adjust your message accordingly. Young/Old, Male/Female, Regular/Infrequent etc.
The more targeted and relevant you can make it for the audience, the more likely they will engage.