Stop Making These Marketing Mistakes

Marketing is the foundation of any business. Marketing keeps a small business in balance and growing.

Many small businesses don’t understand what marketing is and how to do it. Therefore, they end up making some expensive mistake.

Think advertising is marketing

One of the biggest mistakes small business owners make is to think that advertising is marketing. Businesses can spend a lot of money on advertising and, if not done properly, can cost a lot of money with very little return on investment.

Don’t have a marketing plan

Your marketing plan should be a part of your written business plan. The marketing plan should be revisited at least every quarter to revisit your efforts and gauge what has worked and what hasn’t. Your marketing plan is your road map to driving your business growth.

Don’t know your target audience

When you write your marketing plan, you must know who your target audience is. A small business should have a direct target niche as their audience. Analyze everything about your niche audience – their income, age, sex, education, interest in your product and their loyalty.

Don’t know your competition

One of the best ways to analyze the marketing is to be familiar with your competitors. Know your competitors strengths and weaknesses so you can make your business stand out from your rivals.

Don’t know and value your existing customers

A smart small business person knows who their customers are and values them. It costs more to find and sell to a new customer than it does to sell to an existing customer.

Keep track of your current customers. Send out monthly or quarterly newsletters to help you stay top of mind with them.

Happy customers also talk about your business so stay in touch with special offers just for them.

Don’t join your local Chamber of Commerce

All business starts local. So be involved locally. Join your local Chamber of Commerce to network with other small business owners and learn from seminars and presentations that the Chamber offers.

Avoid making these marketing mistakes and market your small business with knowledge and strategy.