Marketing is often the last thing on the list to do. But it can make or break you.
But there are several banana skins you can avoid. Steering clear of mistakes can give you easy wins while your competitors are hitting the floor.
As such, we thought we’d list out some of the most common small and medium business marketing mistakes.
Social media. Get into it
It is amazing how many smbs are failing to take advantage of social media. In fact, it is estimated that around 70% of SMBs have hardly any social media presence.
One only needs to take a look at a brand like Coca-Cola to see what what impact social media can have.
The soft drinks company treats social sharing as a return on investment in itself. It spends a large proportion of its marketing budget on reaching out through social networking.
You don’t have to spend millions. But you can make an huge impact in your particular niche with a small amount of budget.
The thing to remember here is that a your competitors are probably not doing this. Thus it should be very easy to implement laser-like targeting on a particular customer segment.
Spending your money on new customers
Yes we all need new traffic and more traffic. But using paper click ads to bring people onto the site is not necessarily the best way forward.
It is estimated that around 2% of traffic buys on the first visit to the site. There is a reason why the concept of the sales funnel exists.
You need to get people to sign up to your newsletter, you need to create a dialogue with them, you need to get them to come back.
To back this up a recent study by analytics company Moz said that users watched up to six videos on average before they took out a subscription to its services.
Don’t spend all your money bringing people onto the site. Create content and get people coming back. Get them to sign up newsletters. You will need them to make return visits before they buy.
Concentrate on that.
Get others involved
If sharing is a great way to measure return on investment, user-generated content is a way forward in terms of creating a conversation.
Content marketing is great for getting users interested in your brand and feeling they have a relationship with it. But you have to reach out to them in this.
Try not to rely too heavily on creating your own content marketing. The best inbound campaigns get the user to contribute, even if it is only comments.
In this day and age the right technology is easily available. Even WordPress sites have the ability to create interactive content or forums. Try to stretch the boundaries beyond ‘the website’.
Thinking everybody is about to hit buy
If you are selling a product is easy to assume that somebody is on your website because they are wanting to make a purchase.
But the fact is people are at different stages of the sales funnel. Trying to connect with these people and sales messages at them is not going to work.
A good example of this is retargeting ads. Someone might have gone on to your website but have no real interest in buying. Or were purely doing research or even gone on there by mistake.
Chasing them around the Internet is not going to help unless you want to make them feel harried.
In short, be targeted with your ads. Segment potential customers into groups. The fact that somebody has come onto your side does not mean they are ready to buy, yet.
This brings us on to another major point. Being a more targeted in your marketing will help you keep your costs down.
Check out the data
One of the biggest mistakes these days in marketing and maybe beyond is taking decisions on gut instinct.
There is no excuse for that these days. There is so much data available and that is where the gut should be.
Only by examing customer behaviour can you see what is really going on with your business.
Get your analytics sorted out, and look to see what the user is doing. Frequently you’ll be surprised.
And if you are there is a good thing because it means that you are being pushed in the right direction and away from the wrong one.