Mistakes that Founders and Business owners make in Sales and Marketing

MARKETING FOR SMALL BUSINESS

‘Marketer’ is a particular hat that can weigh heavy, as many small business owners aren’t sure what it takes to make marketing work for them. They are experts in their business, but they simply don’t have the time to become experts in the ever-changing world of online marketing.

Almost half of all small business owners (47%), run their marketing efforts entirely on their own. This can feel overwhelming (and also a little bit lonely). If you’re not a seasoned marketer, chances are there are a few things you’re doing (and not doing) in your marketing efforts that could be holding your business back. Find out more.

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FAILING TO DEFINE YOUR TARGET AUDIENCE

Don’t make the mistake of trying to appeal to everyone. This is impossible. By defining a specific audience, you can create more effective marketing campaigns that speak directly to their needs, interests, values and budgets.

Failing to define your target audience will also lead to wasted resources, missed opportunities and inconsistent messaging.

IGNORING YOUR COMPETITION

Failing to research your competitors can lead to missed opportunities, or a lack of differentiation in the marketplace. It’s important to understand your competition and find ways to distinguish your product or service from theirs, which will form the backbone of your marketing messaging. You could also be missing out on new product or service offerings, innovative marketing techniques or new distribution channels that your competitors are utilizing ahead of you. You also won’t be keeping an eye on their pricing strategies, which could lead to you pricing your products/services too high or low.

By ignoring your competitors, you are flying blind when making business decisions.

NOT HAVING A MARKETING STRATEGY

A marketing strategy?is an essential component of any business plan. It helps a business to establish a clear direction, increase effectiveness, build brand reputation, and maximize ROI. Without a marketing strategy, a business risks wasting resources and missing out on valuable opportunities to reach and engage its target audience.

NOT HAVING A CLEAR MESSAGE

You must be able to articulate what sets your product or service apart from others in the market. Having a clear message and value proposition is critical for attracting and retaining customers. And don’t forget, just because your unique selling propositions (USP) ?is relevant at the time of launching, it might evolve overtime, so you need to be prepared to revisit it and adjust your marketing messaging accordingly, if required.

NOT USING THE RIGHT MARKETING CHANNELS

The wide variety of marketing channels available can be overwhelming. It’s important to research and understand which channels are most effective for reaching your target audience. Just because a platform is available, doesn’t mean you should have a presence on it.

Choosing the right marketing channels for your business requires a thorough understanding of your target audience, competitors, marketing goals, budget, and available options. By following these steps and testing your approach, you can determine the most effective combination. (And as always, keep a close eye on any market changes that could impact the channels you use e.g. a shift in your audience’s online behaviour, new channels on the market, a new competitor on the scene.)

FAILING TO TRACK AND MEASURE RESULTS

Without setting business KPIs to tell you what’s working and what’s not, you could be wasting your marketing budget?and missing out on opportunities that could significantly improve your results. You must track the effectiveness of your marketing campaigns, otherwise it will be difficult to make informed decisions about future marketing efforts.

Google Analytics is a good place to start, as it will be able to show you which marketing channels are driving the best traffic to your website. It’s an essential component to any marketer’s online tool box.

BEING COMPLACENT

You’ve run some successful campaigns previously, so you keep doing the same thing… no? While it’s important to continue with successful marketing methods, don’t get complacent. Repeating the same content can quickly turn stale – your audience won’t appreciate it and will be less likely to engage with you.

There are always ways you can develop and enhance your marketing activity to further grow your business. Don’t lose momentum by getting comfortable and complacent. Keep analyzing the data, keep challenging yourself, keep learning.

NOT INVESTING ENOUGH IN MARKETING

You might feel hesitant to spend money on marketing, but investing in marketing is critical for driving growth and increasing revenue. It’s important to allocate sufficient resources to marketing efforts to ensure they are effective.

Working with an accountant when writing a business plan?will help ensure realistic budgets are put in place, which align with your business goals. For example, if your goal is to increase sales by 20%, you may need to allocate a larger budget to marketing efforts that focus on lead generation and customer acquisition.

It can also be helpful to research.

BEING INCONSISTENT

Some small business owners may start a marketing campaign, then stop it before it has a chance to make an impact. Being too quick to abandon ship can cost you – jumping from idea to idea isn’t going to give you the data you need to make informed decisions and will confuse your target audience. You’ll end up throwing money at the wall as a result of unreliable data.

Consistency is key. It will help you to build brand awareness and recognition, maintain customer engagement, establish credibility and increase sales and revenue by keeping your business top-of-mind amongst your audience. But, it’s not easy, especially when you’re wearing many other hats. There are a number of useful online tools that can help you schedule your marketing content ahead of time e.g. HootSuite and Buffer. Set a certain time each week dedicated to creating and scheduling your social content. This will ensure a steady stream of marketing content goes out, and avoids radio silence situations cropping up, should your attention be needed elsewhere.

NEGLECTING YOUR WEBSITE

Your website shouldn’t be seen as a launch-it-then-leave-it channel. It’s a crucial marketing tool for establishing your online presence, building credibility, engaging your audience and attracting new customers. If well-optimized, mobile-friendly and user-friendly, it is a cost-effective way to promote your business and reach a wider audience. It also provides a base camp for your marketing activities to reach back to.

When you neglect your website, you not only run the risk of driving away potential customers who might think your business is no longer open or poorly operated, but you also hurt your search engine optimization (SEO), which means you’ll drive less traffic from search engines over time.

Keep your content engaging and relevant, consider adding a blog to showcase your knowledge and add personality to your brand. Optimize key landing pages for search engines. Be clear on your website’s goals – do you want visitors to make a purchase? Subscribe? Sign up? Look at your data – is your website achieving these goals? If not, why? Does your code need cleaning up, to speed up your load time? By taking proactive steps to engage your site visitors and keep your site clean and running smoothly, you are supporting your longer term business goals.

If you’re managing your website on your own, make a point to set aside some time at least every month to check for broken links and update website copy such as your contact information and hours of operation if needed. Consider working with an SEO professional to help you check for technical SEO issues on a regular basis – at least every six months – and make it a point to update your content on an annual basis to keep your site feeling fresh (blog posts more regularly!).