When starting up a business and formulating your marketing plan, it is important that you get it right, otherwise it could cost you time and money in the future.
Below is a list of the top five marketing plan mistakes commonly made :
● Get specific with who you mean to target for your advertising. Make sure you have it all laid out specifically who you want to hear the message.
● Forgetting your current customers. Don’t make the mistake of only focusing on your new customer’s, doing this will make your current clients feel left out and possibly make them go else where.
● Not setting a budget up front. All too often businesses get so excited about advertising that they don’t even set a budget, this can prove to be a very costly and troublesome outcome.
● Thinking that marketing only means advertising. There are many aspects of marketing that you need to remember such as networking, customer support, and market research to name a few.
● Not tracking your results.Usually they say “Yeah we put an ad in the paper, and got a few customers from it”. See the problem with that? How do you know that was the most efficient use of your marketing dollars? How many new customers did you get exactly? How much did they spend? How does this compare to other marketing avenues you explored?
What marketing mistakes have you made in your business that others can learn from?