Last updated on October 13th, 2020 at 11:44 am.
Marketing presents one of the biggest challenges when it comes to small businesses and entrepreneurs. A surprising fact though, the business owner may be a specialist in a particular field, not necessarily in the marketing efforts too. And this is the reason for which inexperienced businesses tend to make unnecessary blunders in their marketing campaigns.
However, it doesn’t mean your organization may be lacking a strong marketing strategy in your business plan, but there are other executional aspects that might be affecting your progress. As for this discussion, we’re going to examine the mistakes that small businesses are most exposed to making, and how can they fill the gaps that can bring a change in the performance and overall growth. Let’s dive into those four marketing blunders.
4 Marketing Blunders that Small Businesses are Prone to Making
#1 Not amply educated taking your customer and their expectations
Startups that register a consistent, small customer base are sometimes able to track record of their previous visits and appointments, suggestions and preferences, and overall buying history. Unfortunately, the pattern is not that easy to create and maintain when it comes to established enterprises and new prospects and customers. But regardless of the company size, it is vital to thoroughly understand the customers and their needs and wants that should help in providing an exceptional customer service and planning the upcoming corporate activities (besides the marketing aspects).
The consequences of failing to understand your customers fully and misjudging their needs are severe including inappropriate pricing strategies, unprofitable marketing executions, incompetent customer service, and other mishaps. The idea is to spend sufficient time in analyzing your visitors and inquire their ins and outs—valuable information needed to convert the potential prospects into customers.
The customer’s information should not only include the details regarding his or her purchase history but should also state their expectations and preferences. The point is to use this information enabling organizations to make spot-on business and marketing decisions in order to cater their customers better than ever. This way finishes the first of four marketing blunders.
#2 Neglecting the marketing plan and inappropriately analyzing the situation
Most often we see marketing strategies being born at irregular intervals, more appropriately speaking in the time of dire need. Business owners call their strategists to work on one, especially when the business is experiencing an unpredicted, sharp decline in growth, unfortunately, in most cases, it becomes too late to create and implement a robust marketing campaign. In order to counter this, do see that advertising events are planned and executed well before the dangerous occasions. This is why the emphasis on the importance of a well-defined marketing plan is never enough.
Before you aim to launch a campaign with the prospect of targeting a new customer base, it’s essential to determine your customer retention rate. Perhaps you may get more inclined to serve the existing customers better than before. By examining the figures in your financial statements and understanding the upcoming trends, you can precisely figure the cost spent on each customer and what future marketing endeavors will be required to hit the target revenue. Try to develop a referral system, loyalty program, or special offers on the basis of profit margins tagged on each of your offerings. And this was the second marketing blunders of four.
#3 A poorly structured website, or none at all
This is a common misconception engulfing many small business owners, “why do I require a website when I operate locally?” About 77% of the users admit that the information on a company’s website tempts them to visit the store or reach the point of sale, according to the 2015 data provided by E-commerce Association. While the other chunk of the website visitors is an already satisfied customers, who are there to recommend the company to a friend or close associate.
Not having any website is not the only issue, but obtaining a business website constituting an unprofessional content congested in an inappropriate manner and the lack of proper functionality leaves a paramount work to do for the business. It is not uncommon to see the contact information or rates of the products stuffed in a hidden area of the website, let alone the online purchasing option that customers demand as the most valuable aspect of the e-commerce industry. Moreover, several small business owners are under the impression that such options are rather optional and value-addition, and not mandatory. Here I am finishing the 3rd of marketing blunders.
#4 No regular communication with the customer
Today as the market is getting increasingly competitive, companies are finding it more and more difficult to keep pace. Now a great service is not enough, rather the way of presentation and the convincing ability of the brand to turn potential prospects into customers is what really matters. The past days when businesses used to rule and bend their customers, now customers are well-aware taking their needs and demand non-stop attention from businesses through freedom of choice and solutions to their needs.
Waiting for the customer to return themselves is not a wise option, as you have to make an effort to lure them back to your offerings and business website. The idea is to facilitate an ongoing communication with your current as well as new customers through whatever the medium you prefer such as email marketing, SMS texts, social media content, or any marketing automation tool.
Hope these four marketing blunders will accelerate your plan, as well as business/ organization.
Lara Hawkins is a certified corporate-level trainer in marketing and advertising sciences having conducted numerous sessions for professionals worldwide. Besides her regular job, Lara also comes as the best answer to students’ most critical question, “can someone write my assignment?” acquiring expertise in a plethora of academic disciplines.