Marketing, like any other profession, can be made easier or harder by the expertise that informs crucial decisions. Businesses that misunderstand or are ignorant of proper marketing strategies end up wasting time and resources pursuing entirely wasteful marketing endeavours.
This could be because they were duped by a unethical marketing practitioner who made lofty promises of a return on investment or because they underestimated the amount of careful research and planning that goes into effective marketing. Either way, it’s prudent for business owners to wise up to the basics of marketing and the big mistakes that they should be avoiding.
Let’s take a look at the biggest marketing mistakes businesses still make.
One of the most common mistakes businesses make with regards to marketing is grossly underestimating the cost required to do at a commercial level. Anyone can make some flyers with the printer at the library, but real commercial scale marketing that will reach you target audience requires a significant investment.
This mistake is common because there are many old-fashioned business owners who haven’t caught up with modern trends, especially in digital marketing. These executive dinosaurs will often dismiss marketing on social media and other platforms because they don’t understand it or don’t believe it should cost them as much as it does.
This explains why we see so many companies throw piecemeal amounts of their budget towards marketing that may as well be non-existent. Unless you understand and agree with the value of marketing then you can’t justify any serious investment.
Not researching their target audience
While most business people have a rudimentary understanding of marketing fundamentals like targeting audiences with specific messages, they have little idea how to research these audiences and develop said messages. This is why marketing experts have tertiary educations in the theories and process behind researching target audiences and developing brand messages for them.
If you don’t have strong target audience research to inform the rest of your marketing strategy then you’re essentially running blind. For example, simply knowing that you’re target audience are young people is pretty vague and fails to explore the in-depth reasons someone might buy your product.
Not having uniform branding
A big mistake plenty of smaller business make is that their branding, logos and aesthetic elements of their business are all over the place. Many businesses will have a Frankenstein of flashy colours and fonts that look ugly from a contemporary perspective.
To avoid making these mistakes business owners should seek out a reputable marketing firm that work on your behalf.