I was reading an interesting article in Forbes the other day and thought you might enjoy the concepts imparted. This is the sixth 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.
6. Not Having A Marketing Plan
As an entrepreneur, you know how important it is to have a plan in place. When you started your business, you likely created a Business Plan (or multiple business plans) to get your start up on the right track. But, have you taken the same steps with your marketing efforts? AKA, have you created a marketing plan for your company?
Solid plans are roadmaps that can lead your business to success. If you want to be the best, you have to establish a plan and (try to) stick to it. One major mistake small businesses make is writing off the idea of a marketing plan.
Take a look at this scary statistic: 59% of small businesses do not have a marketing lan. That means half of you are already making this major marketing mistake!
Let’s play a little game of “Did you know?” Did you know that a marketing plan can:
- Help you analyse marketing strategies
- Create a set of brand standards
- Provide marketing direction
- Measure marketing success
- Help you understand your target audience and market
As you can tell from above, creating a marketing plan has a lot of perks. The solution to this marketing blunder is easy enough: write up the dang marketing plan!