Many of the common marketing mistakes made by new business owners are entirely avoidable. If you are like most business owners, you hope to be running a money-making enterprise. Still, you should never expect to make lots of money if you do not invest in a good marketing effort. In order to launch such an effort, you must develop an effective strategy. Here are some common marketing mistakes made by new business owners to avoid as you attempt to formulate your marketing strategy.
1. Seeking to Reach Too Broad a Target Market
No matter how terrific your product might seem to you, it never pays to try reaching the eyes and ears of every person that does any level of shopping. Even if you have established an online presence, you should not forget your local audience. The response from that particular market could serve as a guide, indicating where it would make sense to broaden your market. One of the most common marketing mistakes made by new business owners is not figuring out your target audience.
2. Going after the Wrong Target Market
If you assume that one group’s need for your product will automatically cause members of the needy group to want your product, then you could well target the wrong audience. Not every short female wants to walk around in a pair of high-heeled shoes.
By the same token, it may well be that not everyone that would love to use your product can afford it. On the other hand, it may be that among the group of people who could afford your product, some feel reluctant to buy it. A few of them might, for instance, hesitate to buy an item that has not been made from sustainable materials.
3. Choosing to Focus on Just One Part of Your Target Market
One product that launched within the past year tripped over this pitfall, but managed to escape it. That company sold what it called a Gripper. It was meant to help with carrying heavy or cumbersome packages. The company tended to target those people that have to carry heavy grocery bags, until one potential customer pushed them to reach out more to those that must carry bags from the drycleaners.
4. Investing Your Marketing Time and Money in Activities and Places That Are of Little Interest to Members of Your Target Market
A company that falls into this pitfall would tighten further the thinking that once put limits on some marketers of the Gripper. In this case, the mistake involves total denial of the habits and interests of a substantial and likely audience.
5. Having a Weak Message in Your Ads
If the content posted on your website could not be described as compelling or engaging, then you run a company that has a weak message. If you fail to call attention to your product’s benefits, then you do not have a strong message. Maybe your product or service has another appealing feature that you have failed to promote properly.
6. Failing to Get Your Message before Your Target Audience with a Satisfactory Level of Consistency
Seldom will a single advertisement turn a possible customer into a paying customer. If consumers could be sold on any product or service so easily, there would be no need for the marketing industry.