Managing a small business can be frustrating at times. You wear many hats: you are the CEO, the CMO, the CFO, HR and of course the janitor if necessary.
Responsible for sales and growth, the Chief Marketing Officer (CMO) has a challenging position. Mistakes can be deadly for a small business. Here are five marketing mistakes that can be avoided.
Five Marketing Mistakes Small Businesses Make
1| Not Identifying Your Ideal Customer
Many business owners think that they should market their products or services to “everybody” and don’t take the time to formulate who their ideal customer is.
Successful small businesses target niche market(s). They understand their customers’ concerns, needs and wants and cater to them.
Knowing who your target customer is, will help you tailor your message and make better decisions on where to spend your marketing resources (time, money and people) to generate revenues.
Related Post: Define Your Target Market
2| Not Having a USP (Unique Selling Proposition)
What makes your services/products different, unique and better that the competitors? What makes you stand out from the crowd?
Competing on price only is a losing game for a small business. You need to give customers another reason than price to choose you over your competitors.
Related Post: What is your Unique Selling Proposition?
3| No Pricing Strategy
A good pricing strategy will help you gain competitive advantage and create a sustainable business. But it can be difficult to get right.
You can undercharge and leave money on the table or overcharge, and no one buys your product/service.
Related Post: Pricing Your Small Business Products or Service
4| NO PPC – Patience, Persistence and Consistency
Many times we get discouraged if we don’t see immediate results from a campaign and just give up after just a few tries. The fact is, marketing is rarely instant.
It’s important to create a consistent message with the right frequency in the right media for your target market.
If you Go – Stop … Go – Stop, you will not get the long term results you are looking for.
Related Post: Successful Marketing Requires Consistency
5| Not Budgeting Enough For Marketing
Marketing is for the long run and requires consistent investment of money and time in order to work.
Even “free” social media platforms such as Facebook are not that free anymore. To be successful in social media you not only need to invest time into it but also money if you want your content to be seen by a wide audience.
If you stop marketing to cut costs – your marketing efforts will fail.
Related post: Marketing Budget
Entrepreneurs are risk takers. They make mistakes, learn from them and move on.
Successful business owners learn from other people’s mistakes and move faster.
Start with your target customer(s) (who they are, their concerns, needs, etc.), build your marketing strategy around them and avoid those five marketing mistakes.
One more thing …
Patience is a necessary virtue in marketing. – My Marketor
If you need any help with your marketing, feel free to CONTACT US. WE CAN HELP YOU GET IT DONE!