Is it true that you are Sabotaging Your Marketing Success?

80% of new organizations flop within the initial 5 years. Learn 4 reasons why in addition to 10 hints to make your business succeed!

You may not agree that you can harm your own prosperity? Who might do that? All things considered, you'd be astonished that many entrepreneurs think they are adequately promoting their business, while actually they are sabotaging it. Indeed, they might run advertisements that are pulling in leads or clients. Quite possibly they are writing columns for newspapers and blogs so they are seen as the master in their industry. Maybe they are doing a quite great job of promoting all the time to their prospect list.

So on the off chance that they are doing these things "right," how are they disrupting their success? Well, there are heaps of ways. Here are the primary four points in which entrepreneurs unintentionally damage their very own prosperity. 

(1) Lack of plan for the promotion

A good plan, centers your endeavors, enables you to benefit as much as possible from your marketing budget. Lamentably, you can do marketing without any plan. Yes, you read it right. You can do it, and many people do advertise without any marketing plans each day. In any case, that doesn't mean you should. In order to make the best out of your promotions and marketing make sure to take out some time and creativity to achieve the best out of it.

(2) No composed objectives

The most successful entrepreneurs have composed objectives and goals for what they need to accomplish with their business and for each of their marketing exercises. I know this sounds b-o-r-i-n-g, yet it's a reality. It is well proven and established that people who write their goals have a higher success rate than the individuals who don't. Additionally, how can you develop a project without any solid targets? A clear vision, focus, and goals are needed for this. Without any objective and plan, you will not be able to manage the budget and direction for marketing.

(3) A momentary frame of mind

They are volatile in nature and thinking that they are doing a lot of marketing and spending money without understanding it. Actually, they are not doing anything consistently or solid enough to have an impact. Running an advertisement or conveying your bulletin a couple of times and surrendering when you don't get quick outcomes is more awful than doing nothing.

So, how? Since it doesn’t cost you money when you do nothing. Pulling the plug too soon costs you money. Furthermore, statistics and research show that it takes almost 3 to 10 exposures to a message for the average customer to notice it and buy it. So it is quite possible that your consumers are quite new to your product and trying to understand it.

(4) May not have any clue about their USP.

Lacking a clear Unique Selling Proposition (USP) is another reason behind the unintentional sabotage of your marketing and business. You need to define the “Why” of your business, even if you have the greatest marketing plan or team. USP is actually that value of your business. Are you not sure about the USP of your business? Think that what if you are the customer of your business and why will you buy it? Customer-based business valuation is a must to convey the right reason to purchase your product. Apple, Facebook, and Amazon are a good example of this.

With these facts in mind here are some 10 tips to banish marketing sabotage.

(1) Develop a marketing plan. Make sure you make it your number one priority to develop a marketing plan every year. If you need, take help from the expert and make it perfect.

(2) Write objectives. Write at least one objective that states what results you would like to achieve with your business over the next year. And, write at least one objective for every marketing activity you undertake, that states what results you would like to achieve from that activity over the next year.

(3) Stay the course. Check-in on your progress toward your objectives every three to six months, but give your plan a good nine to 12 months to work.

(4) Determine your unique selling proposition and make sure it is represented clearly and in a compelling way in everything you do.

(5) Don't try to be "everything to everyone." Focus on a few specific benefits and a specific audience.

(6) Track all of your marketing activities so you know exactly what is working and what is not working. 

(7) Don't rely on one marketing activity. Employ a mix of several marketing activities to reach more people more times. 

(8) Create a system to help you stay on track with your marketing activities every month and to help you plan ahead for future activities.

(9) Create a realistic budget based on a percentage of your projected revenue, or the dollars you have available for marketing and stick to it. Marketing is an investment in your business. You have to spend enough to make progress but not more than your business can financially support.

(10) Understand your environment. The economy, competition, the strength of your particular industry, your prospects' situation. You have to understand them all so you can create an effective plan to either overcome obstacles or take advantage of opportunities.

Follow these guidelines and your business stands a much greater chance of succeeding. All of these activities are part of a good marketing plan. And no business that wants to succeed should be without one.

I hope this helps! Let me know if you have any questions.

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About the Author: 

Vijay Soni, Ph.D. is a researcher, entrepreneur, motivator, creative business developer and thinker. He is working as a postdoctoral researcher at Weill Cornell Medicine, New York. He has also founded the "Scipreneur", a platform that bridges Science and Entrepreneurship. For more information visit www.thescipreneur.com or contact Vijay Soni on LinkedIn or at [email protected]