Marketing can be a tricky business to get right. You need to get the right people, the right tools, the right audience, and the right timing to really pull it off.
Small Business Marketing is even more challenging because you are typically working with a shoestring budget.
Regardless of your budget, you also need to avoid some of the most common mistakes. Here are the 7 marketing mistakes that small businesses should avoid at all costs.
7 Small Business Marketing Mistakes
#1 – Doing Too Much
Many small businesses have a habit of spreading themselves too thinly across too many platforms. This leads to mediocre results at best. Try to identify a few marketing techniques that work best for your industry and your business. Focus on a select few outlets and optimize. If you take things slowly, they will improve over time without any risk.
Marketing mistakes like doing too much or doing too little can easily be avoided with a little planning!
#2 – Retargeting Everyone
Retargeting has been correctly identified as one of the most lucrative marketing strategies. Unfortunately, many small businesses have a broad approach of retargeting everybody. This leads to increased costs on prospects that are not going to convert. According to the Baymard Institute, the average cart has a 70% abandonment rate. Break your customers into groups and only retarget those who are interested in buying.
#3 – Not Engaging in Content Marketing
Content marketing is the most profitable small business marketing strategy. It has to be used as it delivers a better ROI and provides a platform for alternative marketing methods. It is also a long-term strategy where the results compound with time. Produce good content on a regular basis.
#4 – Doing the Wrong Content Marketing
Many small businesses fail miserably when it comes to content marketing. While the vast majority of advertisers now focus on content marketing, user-generated content is where the real money lies. Content has to be optimized as much as possible and should adhere to the latest SEO guidelines.
Don’t overthink. Find a platform that your customers are present on and find ways to CREATE VALUE.
#5 – Having No Organized Marketing Strategy
Every marketing strategy needs to have goals, deadlines and processes. It should also be regularly reviewed with a series of checks and balances. There should be an overarching aim and the various facets of the strategy should be interconnected – PPC, content marketing, website optimization, affiliate marketing, etc.
Small businesses struggle because they don’t have a plan and they end up half assing everything.
#6 – Lack of Creativity
There is major room for innovation and creativity in the online world. Most people just follow the basic rules and guidelines in terms of marketing. But there is an influx of new technology and there has never been a better time to make money. Do not be afraid to test new things out that have not been tried before. You can make money with solid online advice. But you will never get rich using the well-known methods and need some kind of edge.
The easiest way to be creative is to study other companies and what they are doing. Many times, you can find something that is working in another industry that hasn’t been tried in your field yet.
Marketing is about standing out and one of the most common marketing mistakes is to do exactly what everyone else is doing. Be creative!
#7 – Focusing on Acquisition v Retention
This is not only a marketing mistake but a general business mistake that small businesses make every single day.
Studies have proven that is is almost 5 times cheaper to retain an existing customer than to gain a new one. Many small businesses make the fatal mistake of blowing their entire budget on acquiring customers to their site who do not convert. High-converting traffic is the name of the game when it comes to online marketing.
This is a big one. It is much cheaper to retain customers than it is to acquire more customers yet we don’t spend enough time making them feel appreciated.
Never stop “wooing” your clients and you will keep them happy for a lifetime.
Want to get a free consultation where we can go through and identify the specific mistakes that you are making? Contact Measure Twice Media to schedule a free phone consultation.