When it comes to marketing, everyone wants to talk about the best ways to market or how to be a successful marketer. We tend to search for easy and proven ways. Why don’t we consider the basic marketing mistakes? No one can ever be a great marketer or, for that matter, any kind of an entrepreneur, if they do not learn from mistakes. As it is truly said, behind every successful marketer there is a loser.
Once, I had a chance to have an interview with a great business person. I asked him to shed some light on his success story. He only told me one thing: “Bad experiences made me perfect, to make great decisions.” We want pre-made recipes and in this regard, we use other experiences in all campaigns whether they are related to our product or not.
Today, I will tell you five terrible marketing mistakes, which will lead our marketing efforts toward failure.
1. Targeting the Wrong Audience
This is a big mistake in the marketing arena. Marketing is not just about spreading the product all around the world. A perfect marketer is one who makes an in-depth study of the product, including research of its reach. Have you ever thought how the big brands like Apple, Microsoft, Facebook, etc. are so successful? I know we never think about it. But let me tell you: they have a complete plan; they know about their audience. They have a perfect team who just analyzes the strong demographic conventions. That’s why those brands pop up into the sky faster and are leading the world.
Marketing is not just about getting featured in magazines, top sites, and publications. It consists of a certain life cycle. Just like SDLC (System Development Life Cycle), marketing also works like same. If, you want to make your marketing campaign successful then you must take a look at your audience. Selection of the wrong audience will definitely lead you towards failure.
2. Spending Too Much on a Budget and Getting a Low Success Rate
I have noticed that every new startup that starts its marketing campaign virally increases conversions. But have you ever noticed your cost and gain? What if you are spending thousands of dollars and getting only 10 percent leads? It will suck money out of your business. Be a smart marketer. Budget spending doesn’t mean that you need to spend all of the budget in a small amount of time or early on. The main purpose of spending money is to get the benefit. I have seen many marketers in my life who spend only 50 percent of their budget and get 500 percent ROI (Return on Investment).
3. Ignoring Competitors’ Strategies
OMG! Competitors are the most important barometers of your industry. Never underestimate your competitors. Have an open eye on their strategies, campaign progress and, of course, on their product planning. I have a great tip for you in this regard: when you find huge competition in your industry, come up with the most thrilling offer. It will work wonders.
We all are working to beat competitors by spending a huge amount in press releases, content marketing, social marketing and local advertisements. Have we ever thought that we can beat them with an old-fashioned strategy? Think about it and put your laser eyes on your competitors. No matter how big they are, diligent watching will do 70 percent of your job.
4. Not Using Historical Data (Especially Email)
If you are running a marketing team or firm, you may have many projects running or you may have done many before. In each project, email list building is the most important part. Whether we get sales or not, we need to be targeting peoples’ email addresses. It is not it a great option, but you use those email addresses in your other projects as well.
But keep in mind you must consider the taste and interest of people. Not doing this is a major mistake; the main reason is those targeted emails are not laser targeted to your product interest. So, always try to use historical data. We all know very well that email marketing is the most killer part of marketing.
5. Having a Lazy and Unqualified Expert Team
You have a good budget, nice strategy, and low competition, but you still are not getting full results? Have you checked your team twice? Do they properly fit your marketing campaigns? I am sure a financial adviser can never handle a quality assurance phase, and a lazy person uses the easiest way to solve a problem. Each team member must fulfill the requirement for their specific job.
I have seen many startups and campaign(s) ruining their marketing budget as well as product values because they didn’t have a proper plan and strategy. These mistakes will ruin your company reputation in no time. If you want popularity for your company, then you must avoid these general marketing mistakes.
Let us know what strategy you are using for your marketing campaign and what mistakes you are making in the comments.