Marketing Pitfalls to Avoidadmin
Most businesses that want to increase overall profit do so through a variety of ways. Some decrease their workforce to save on salary expenses, while others create new products to sell. A third option is to alter or create a new marketing campaign. If done well, this can bring in new sales, expand your customer base, or help you focus on a niche market. It’s important to know which marketing tactics to use, and which to steer clear of. Here’s a list of marketing pitfalls you should avoid.
Lack of Testing
Once you’ve decided on a marketing technique, it’s wise to try it out in small increments. You may be tempted to launch a huge new marketing campaign, but this could prove to be a mistake. Test your new idea with a small group to get a sense as to how it’s going to work. If the results are good, you may choose to expand the scale or scope. For less than desired results, you may want to go back to the drawing board.
A good marketing plan doesn’t target everyone within reach, it aims to reach select customers that fit within a certain criteria. For instance, a local college wanting to promote new classes wouldn’t target a community for senior citizens. A business needs to determine their target clients and design a marketing campaign aimed at those specific individuals or groups. Try to avoid a broad strokes approach, and instead, aim to reach those most likely to be interested in your product.
Launching a new marketing campaign can breathe new life into your business, but the change may only be temporary. When designing a marketing plan, you need to find a way to make in sustainable for the foreseeable future. This could involve a plan that changes over time, or one that only lasts for short seasons throughout the year.
Failure to Act
Once your marketing efforts produce new customers or leads, these need to be converted into actual sales. Getting customers into your store, or onto your website is the first step, but you also need to find a way to encourage them to purchase your products. Include a section within your marketing plan that addresses this need and steps you can take to increase your sales.