I was reading an interesting article in Forbes the other day and thought you might enjoy the concepts imparted. This is the third week’s article.
Every business has to market their products and services and the way you market your business can mean the difference between failure and success. If done right, you can increase revenue, attract new customers, and retain your current customers. If done wrong, you’ll be left screaming, “Ugh, I’ve made a huge mistake!” and trying to pick up all the pieces.
The article in Forbes outlined what marketing mistakes you need to avoid at all costs and I thought you might be interested to read their comments. If you want to avoid some of the biggest marketing blunders of all time, you have to know what they are and how to steer clear of them. Here are seven marketing faux pas you need to watch out for in your business.
I reproduce them all seven over a 7 week period, so keep coming back to see the next one.
3. Picking The Wrong Target
Ah yes, you just started your new business. Everything is sunshine and rainbows. Is that a butterfly over there? I remember those days. The days where you think “Everyone can be a potential customer!” If you’re still in this mindset, I’m going to kick you out of it right now.
One avoidable mistake plenty of amateur business owners make is thinking that everyone is a potential customer. Because they believe this, business owners around the world get their target market and audience all wrong.
While it might be true that your offerings appeal to a broad audience, they absolutely won’t appeal to everyone.
When it comes to marketing, you need to narrow down who you’re going to target. Instead of trying to sell to everyone, do some research to hone in on potential customers as well as their needs, interests, and demographics.
You’ve come this far. Don’t make the mistake of not getting to know your target customer inside and out.