Are Common Marketing Mistakes Ruining Your Business?

Are Common Marketing Mistakes Ruining Your Business?

If you have a product or service to sell, the best time to launch your next marketing campaign is now. Right now. This very instant — whether you’re reading this article the day it was written, a month later or 10 years down the road.

Are Common Marketing Mistakes Ruining Your Business?

The reason why is this: marketing is an ongoing process, not a one-time event, and you simply must become a relentless marketer if you want to be successful. The hard truth is that businesses fail every day because they haven’t had the kind of nonstop marketing it takes to prosper. You, however, can benefit from their folly and absorb the business they leave behind — if you can avoid the three common marketing mistakes outlined below.

Mistake #1: Failure to Market During a Bad Economy

When the economy turns sour, it’s natural to want to cut your marketing budget since it doesn’t seem essential. What you should do, though, is cut everything else to the bone before you even think about touching your marketing budget.

Look at it this way: if you don’t continue to market your business, you won’t be able to attract new customers — and if you don’t have customers coming in, you don’t have a reason to be in business anyway. Plus, the vast majority of businesses make this mistake, so when you market during a bad economy, you are actually getting a bigger slice of the pie when it comes to influencing potential customers.

Mistake #2: Failure to Market an Established Brand

All too often, business incorrectly assume that they can pull back on their marketing campaigns once they’ve built up enough sales for their product or service. This, however, is completely false.

The truth is that the more business you have, the more marketing you need to do since every single client you serve can choose a competitor at any time. Do not think of your current clients as known quantities or money in the bank — think of them as potential clients you have to keep convincing to stick with your business.

Mistake #3: Failure to Overcome Past Marketing Mistakes

Of all the common marketing mistakes, this one is, by far, the worst. Unfortunately, though, it is not at all unusual for businesses to stick with poor marketing plans even though they’ve failed to generate results. Or even worse, they will give up marketing entirely because of one or two bad campaigns.

Luckily, the solution for both these scenarios is the same: learn from your past mistakes and accept the fact that marketing can often be a process of trial and error. Take an honest look at what you’ve done in the past and ask yourself where you can improve. Have you targeted the right audience? Do you have a consistent marketing message? Are you promoting your USP? Are you even sure you know what your USP is?

Succeed Where Others Have Failed

By taking an objective look at what’s gone wrong in the past, you can change your financial future. Avoid the common marketing mistakes most businesses make and don’t be afraid to get professional help. You went into business to succeed — and a commitment to an ongoing marketing plan will help you do just that.

By Daniel Rray

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