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Eliminate the Common Mistakes Made by Most Small Business Owners |
There is a saying that paraphrased goes something like this: "I know that half of the money I spend on marketing is wasted: if only I could figure out which half it is!”
Well, I'm here to tell you that you absolutely can. By eliminating the common mistakes many SBO's make with their businesses, it's easy. I'll teach you how.
Here's a checklist of mistakes many companies make with their marketing:
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1) Not focusing enough time and effort on their marketing
Most business owners spend far more time and effort on mundane things that don't really affect their bottom line than on marketing. This is the first huge mistake. Without effective marketing, almost all businesses will fail.
If you feel you don't have the time or desire to handle the marketing for your business, consider hiring a consultant. Why would you hire a marketing consultant? Let me ask you this, why would you hire a lawyer or a CPA? Simple, they’re professionals and experts in their fields. You don’t know the ins-and-outs of they’re areas of expertise and you don’t have the time or desire to learn all the intricacies either. The same goes for marketing your business, let someone else do it so you can focus on your passion. |
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2) Relying on advice from friends and relatives
If business owners do handle their own marketing, many times they let their friends/wives/husbands or other various employees who have no idea whether or not any type of marketing is effective make the decisions about their marketing plan.
Would you ask your dentist for advice about fixing your car engine? Of course not - that's not their expertise. So why in the world would you base something as important as decisions about your marketing on a relative who has no idea what he's talking about? |
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3) Being led by pushy or aggressive media sales people
If you feel like you're being bullied by a consultant then he’s not really a consultant he’s a sales rep who really isn't looking out for your best interest. A true consultant will explain everything to you so you can make the best decision. Then he will help you implement the plan of action, even if it’s not exactly what he was leading you towards. You're the one calling the shots, but remember that he’s the expert so be honestly open to the advice before just off handedly shutting him down.
One quick caveat; some fluke events or problems do and will come up even when you’re being guided by the best of consultants. Remember, a true consultant has your best interests in mind and he will help you with alternate planning if you remain civil. |
4) Allowing your creative delivery to be ineffective
You can advertise your business to the world so that it reaches 100% of your market 100 times a day, but if your marketing message is not well created, it won't bring you the results you want. Most Small Business Owners rely on themselves or family members to create marketing ideas for them. This is a very difficult thing because most people, even your family, don't take the time to learn about your business, your customers and what makes you different in your market. A consultant does just that. He sits down with you and creates a complete profile of you, your business, and your customer. He then works from there to build your business.
To be effective, you must give the potential customer a compelling reason to buy your product or service. That means you have to come up with a better and more complete idea than "we have the best service and we've been in business for 112 years."
No one really cares....well they do, but they don't believe you. If that's what you want to convey to your market, then work with your consultant to provide a story that tells them (your customer) that you have the best service. Make your company stand out. |
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5) Always doing the same old thing because that's what you've always done.
If you're not growing, you're dying - and the same goes for your business. If you're happy with the same old returns on your marketing (assuming that you're measuring it in some way), then continue to do the same thing. Most business owners aren't though, so it's important to try new things.
The way society changes the way it uses media and as quickly as those changes happen, you need to keep up or lose out. Many business owners are afraid to try something new because it takes them out of their comfort zone - especially if no one in their industry has ever tried the new idea. This is a huge mistake and robs them of potentially huge profits. |
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6) Falling into the price trap.
This is another huge one! Unless you're Wal-Mart and can guarantee that no other business can sell for a lower price, don't use that as your main selling point. Once you start down that path, it's virtually impossible to stop.
If you can't come up with another reason for your potential customers to choose you instead of your competitor, you really need to find one (or more)! |
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7) Not using publicity or events in their marketing plan
It's amazing how few businesses even try to use publicity or special events in their marketing. It's often the best marketing you can get - not only because it's free, but because it cuts through the clutter. If the newspaper runs a story or a TV station is covering something during their newscast, it has automatic credibility that you just can't buy.
Of course you can't control the message 100%, but if you learn solid techniques of creating your publicity or press event, you can have a great deal of influence about how a story is covered.
If you can eliminate only 1 or 2 of these mistakes (assuming you're making them all), you'll wonder why you didn't do so earlier! In business, if there are enough of the right customers buying your products and services, many of your problems seem to disappear.
If you have further questions please Contact Me or see these articles.
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