Dayton B2B Publishes Top Ten Marketing Mistakes Made by Small Businesses
The following is a summary of a recent story on marketing mistakes made by most small businesses. If you are not a subscriber to the Dayton B2B Magazine and you run a business in or around Dayton, you are missing out! Check them out today!
Mistake No. 1: Not Developing a Marketing Plan – Creating a marketing plan is a crucial part of your business foundation. It helps you design your product and service, identify your target audiences, and provide a road map to guide you toward your final destination.
Mistake No. 2: Not Planning a Marketing Budget – A general rule of thumb is that 10 percent of your revenue should be designated for your marketing efforts.
Mistake No. 3: Not Targeting a Specific Audience – Target an audience that is both reachable and relevant to your product or service. It’s important to remember you can’t be everything to everyone.
Mistake No. 4: Not Developing a Clear and Consistent Marketing Message – Make sure your message and images properly portray your product.
Mistake No. 5: Believing Your Product or Service Will Sell Itself – People must be told why they need to buy your product or service. And after they have purchased it, customer service needs to be intact so you can ensure they continue to use it.
Mistake No. 6: Not Clearly Defining Your Product or Services’ Benefits – You need to be able to easily and effectively separate yourself from the competition.
Mistake No. 7: Underestimating the Value of Your Existing Customers – Turning existing customers into lifetime customers is extremely important in staying in business. Good customer service is why customers stay with a particular company.
Mistake No. 8: Thinking That Advertising is Marketing – Advertising is only one small facet of marketing, and in order to be effective it needs to be combined with other marketing tactics so you can effectively get yourself in front of your customer.
Mistake No. 9: Ignoring the Benefits of Public Relations – PR keeps your company newsworthy. Developing a good story about your business, yourself, your customers or your community involvement can make a world of difference in reaching your target market.
Mistake No. 10: Expecting Too Much, Too Soon – To turn a potential customer to a new customer you need to be consistent. Consistency helps your customers know and trust you, and that can take time to build.
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