8 Deadly Marketing Mistakes
Avoid thies marketing mistakes to make your business successful
By The Phoenix
ONE Marketing Team
The road to business failure is paved with good intentions.
Unfortunately, there's
no marketing road map for start-ups, with signs posted along the way that warn "Beware Steep Slope" or "Sales Dip Ahead."
But to help you avoid the hazards on the road ahead, here's a quick list of the eight most common marketing mistakes new entrepreneurs
make—plus tips for how to steer clear of them.
Mistake
#1: Marketing only in the slow times. To grow your business, you need an ongoing, targeted marketing program you can manage year-round along with the day-to-day demands of your new
business. One mistake start-up entrepreneurs often make is to put marketing on the back burner and focus exclusively on the
few customers they've got--at the expense of marketing activities that continually reach out to new prospects. Marketing only during the slow times dooms you to living on
an economic roller coaster. Since customer attrition is inevitable in any business, without an ongoing marketing program,
your clientele will shrink until you're forced to close your doors.
Mistake
#2: Failing to focus. Often, start-up marketers
fail because they try to tackle too many types of prospects on a limited, start-up budget. Going after everyone who will listen
is a shortcut to failure. On the flip side, when you narrowly focus your marketing efforts on a qualified target audience,
you'll get spectacular results. Create a profile of your best prospects, and make them the focus of all your marketing efforts.
Mistake
#3: Overlooking testing and research. So you
think millions of people will want to buy your product or service. What makes you so sure? Before committing lots of cash
to launching your new business, do some market research. The Internet is your best source of published information. You can
use chat rooms to get instant feedback and input without spending a dime. Or you can test the market using surveys or focus
groups among members of your target audience. Testing can keep you from making costly mistakes based on false assumptions
about your product, service or customers.
Mistake
#4: Relying on just one or two marketing tactics.
It's only natural to rely on the marketing tactics you're most comfortable with. If you like meeting and talking to new people,
you may focus on networking. If you're shy, on the other hand, you might rely solely on direct mail. Such single-mindedness
is a major marketing mistake because it prevents you from exposing a full range of prospects to your message. When planning
your marketing program, choose from a variety of tactics that reach prospects no matter what stage of the sales cycle they
happen to be in.
Mistake
#5: Underspending on marketing. It's just
as important to set aside marketing funds as it is to budget for computer equipment and other tools you're going to need to
run your business. If you go to a bank for financing, you'll be expected to show the banker your marketing budget—because
without marketing, there's very little chance you'll be able to repay your loan. Even if you're funding your company without
help from a bank or other lender, you need to follow the same guidelines and set up a marketing budget that's sufficient to
meet your annual sales objectives.
Mistake
#6: Failing to present a professional image.
Your marketing materials sell your company image to the world. To be successful, you need a cohesive family of tools that
stand up to those of even your largest competitors. If you hand out shoddy, poorly produced marketing materials to prospects,
don't expect to be picked for plum jobs.
Also be aware of how your company "sounds" when prospects call. Using voice mail,
recording a professional-sounding message and returning calls within 24 hours go a long way toward creating that professional
image.
Mistake #7: Ignoring current customers. As your business grows, you may become so focused on getting new customers that you
overlook current customers. That is a major mistake, since it generally costs more to win a new customer than to "resell"
to an existing one. Keep a database of customers, and be sure your marketing plan includes tactics aimed at reaching this
important group.
Mistake #8: Overlooking what technology can do for you. Contact management software and e-mail marketing are just two options that can streamline your marketing efforts and improve your productivity. Without a good contact management program, business contacts may be lost and call-backs missed. Don't overlook these valuable
tools that can help your business grow.
Whatever stage of business you're in, success means continually searching for
new and better ways to communicate with both prospects and existing customers. Phoenix ONE can provide marketing solutions.
© 2006 Phoenix ONE Sales, Marketing +
Communications, LLC Mahwah, New Jersey
