Common Marketing Mistakes can kill your business, do you doubt it? Well lets see!
- Using only secondary research. Relying on the published work of others doesn’t give you the full picture. It can be a great place to start, of course, but the information you get from secondary research can be outdated. You can miss out on other factors relevant to your business.
- Using only web resources. When you use common search engines to gather information, you get only data that are available to everyone and it may not be fully accurate. To perform deeper searches while staying within your budget, use the resources at your local library, college campus or small-business center.
- Surveying only the people you know. Small-business owners sometimes interview only family members and close colleagues when conducting research, but friends and family are often not the best survey subjects. To get the most useful and accurate information, you need to talk to real customers about their needs, wants and expectations.
More Mistakes and solution : Trying to Serve Everyone
The blessing and the curse of many entrepreneurs is that they’re good-hearted, and really want to make world a better place.
The blessing part is easy to figure out… but the curse? By trying to help everyone with their product or service… They often end up helping no one.
Having too broad of a target market is probably the single most common marketing mistake people make. In order to stand out in the crowd, you need to be really specific with which sub-segment of the population you’re targeting. The narrower your niche, the better.
Now you’re probably thinking… “Ahh, but what about all these other prospective customers I’ll be giving up on?” I get that.
You have to think about it the other way: get excited about how well you’re going to be able to serve the specific customers you’re going after. By focusing on a specific group, you’ll be able to serve them much better and have a more profound impact on their life.
Let’s go concrete with this. When you’re describing your ideal customer, you should be able to get highly descriptive of that person, both on a demographic and psychographic level.
For example, “Men between the age of 25 and 40” is a lousy target market. Instead, it should be something like “Professional men between 25 and 40 who live in major cities, are passionate about the outdoors, who struggle to find time for their hobbies, and are afraid that their best years are passing them by”. Now we’re talking. This is a target you can really help… and make a lot of money in the process.
Solution: Write down the main characteristics of your ideal customer. Describe their frustrations, fears, and aspirations. Get as deep and as personal as you can. You want to able to put yourself in their skin and feel what they feel, think what they think.
- Market Research Basics (biztalksblogs.wordpress.com)
- Reaching Your Target Audience (enterpriseresilienceblog.typepad.com)
- Marketing Ideas for Small Retailers (displaybay.com.au)
- 3 Most Common Marketing Mistakes Young Entrepreneurs Make (and How to Fix Them) (under30ceo.com)
If the first law of business is completion. Competition is something that cannot be abated in business. It make you to think and engages you to set high standard against your competitor if you discipline yourself.
To understand your competitors you have to develop the self-discipline to unravel exactly what your competitors are offering.
You could say that what you are about to offer is unique and has no direct competitors. Well don’t forget that some villains are lurking in the dark to see what you have to offer and if it makes sense, they high jack it and then your naked eye which was not clothed before will be opened to know that the bad boy are really after you. Even if you are offering a new type of food that is sourced from the greatest plant, probably from Mars. You just need to work out what other business are the most likely rivals for your potential customers in terms of time, attention, and (most important of all) money.
For you, you need to become the NO.1 business spy. How? That simple, become your competitor’s partners or pay a sensational visit and feel the atmosphere and total experience that they offer. You become their customers and then check out what they don’t like about their product and services and also what your fellow customers don’t like about them. REMEMBER YOUR ARE ACTING AS A SECRET AGENT FROM BIZTALKSBLOGS, do not blow the cover. Get sales people to run their sales pitches past you or make a purchase complain and feel the quality of the furnishing in their showrooms, if they got music listen to it and know if you like it.
Spy also on their customer, pretend to act as if you don’t like what they have to offer and then listen to what they have to say. Watch the sales staff. Note what makes the customer buy, what they buy, how much they spend, how they react to the whole experience.
Now the conclusion of the matter, what does your competitor do well or badly? If something work well think of how you can replicate it or add your own twist to it. If something works badly think of how you can make it better. Also check their website, sign up and see what the got in their new letter of its design. MAKE SURE YOU DOCUMENT YOUR FINDINGS.
You could send me your BTB mission file if you succeed. Do your sensational spy subtly. If you got problem tell me.