It doesn’t matter what sector you are in; marketing can either make or break your business. If properly developed and done well, a marketing campaign does not only connect you with the right prospects, but it will also make your business the talk of the town. That’s the reason top brands never joke with developing an effective marketing plan – they put lots of time and effort into it. Marketing Errors that you should avoid while doing job in market.
However, successful marketing does not only depend on your smart planning and getting the right things done, but it also requires you to know what not to do as much as you know what things you are to do. It’s a new year, and we have put together the top seven marketing mistakes and how you can avoid them to see the best results from your little efforts.
List of the Marketing Errors:-
#1: Confusing a Tactic with a Strategy
Today, many companies experience failure with their marketing because they concentrate on a tactic with an overarching strategy.
The truth is that marketing could be complex and often requires that you develop multiple tactics in the bid to achieve a strategic goal. A tactic that worked last year may not work again this year, especially if you fail to understand how that tactic fits into the marketing ecosystem to produce the desired result.
That means, if you are running LinkedIn Ads, for instance, and you see a significant rise in traffic or inquiries, but you lack the strategy to market to those leads to eventually make the sale, you are simply wasting your money.
You shouldn’t see marketing as a vending machine. Even if you have tested a tactic before by putting your money once and got a good result, that doesn’t mean it will keep working like that for the tactic. So have a strategic goal and develop several working tactics to achieve it.
#2: Retargeting everyone
This is one mistake common with most e-commerce marketers; they always want to target every bounced visitor.
Even if you have the best product in the market, not every visitor that lands on your site have the intention to make a purchase. Baymard Institute once conducted research where they identified that only 41.4% of American online shoppers actually make a purchase while the bulk of the rest are clicking away before they initiated the checkout flow.
If these are the people you include in your retargeting effort, you are simply wasting your resources because most of them have shown no real interest in purchasing your product. It doesn’t matter how much you try; they are just not ready to buy.
This is what you should do instead. Put your bounced visitors in groups depending on how much time they spent, how many pages they viewed before they left, if they have checked a particular product category, e.t.c then retarget accordingly. It’s no use retargeting a visitor that only bounced from your Home page after spending a few seconds without checking any product category on the site.
Targeting every visitor may not increase your revenue, but it will surely increase your costs. So, avoid that mistake.
#3: Not investing in social media marketing
Whether you like it or not, social media is still one of the most effective tools being used in the modern marketplace to market a business. But unfortunately, only a few businesses are taking advantage of this. Up to 68% are still not taking it seriously. The reason is often that most of them don’t have the time or resources to properly invest in social media marketing. So, how can you resolve this problem?
There are lots of resources online on how you can improve your social media strategy (and we will be sharing some of them on this blog soon), but I have listed the important fundamentals here to help you kick off an effective social media marketing strategy:
- Identify who your audience is
- Keep it small at the beginning by only targeting just one platform at a time
- Select key success metrics
- Analyze the metrics
- Create a good marketing plan and use it
Don’t forget; the secret to making a success with social media marketing is to first think and act like a member, then as a marketer.
#4: Neglecting your customer’s true motivation
I am sure you must have heard this before even though only a few companies are getting it right; your customer does not buy what you specifically sell.
Your priority should always be to identify that very basic need your company helps your customers to address. Do you help them get a better night’s rest; will your service or product help them get a raise at work; or do you give them more free time and make their life easier?
You may not be able to truly identify this on your own because you are close to your business, so you may need an outsider to help you get this right. This year, you need to focus more on “why” customers buy your product rather than only on “what” you do.
#5: Not being consistent
As much as marketing is great, marketing is also all about consistency. The only way to achieve good success with your marketing goals is to have a consistent feel and look to your materials, have a consistent tone for your brand language when producing and publishing content on your site.
You are simply setting up yourself for failure if you hire a stellar agency to make lead generation assets without updating your brand (e.g., product materials, website, logo) or overall message.
Your marketing should establish the initial impression your customer has always have about your company.
#6: Spending the whole of your marketing budget on acquisition
When you blow your marketing dollars for the acquisition of new customers, you are setting yourself up for failure. Are you aware that only 2% of web traffics convert on the first visit? Yes, most people that visit your site will only come and go in an instant no matter how much you are putting into it. Even if your site is well-optimized, they won’t just convert.
Does that mean you should stop spending on the acquisition of traffic to your site? I’m only saying you should spend more on stocking up their purchase rates too. Focus on acquisition and retention rather than acquisition alone.
#7: Improper focus and positioning
Don’t because you want to build up your company and, in the process, neglect brand awareness. Create the kind of marketing that will demand an immediate response from your audience. You can avoid improper focus and positioning by properly positioning your marketing.
Marketing is surely not rocket science. It only requires a proper planning and operational structure to make it work effectively. These are the marketing errors from that we will easily prevent our business from loss.
