Marketing is an investment businesses make to achieve more sales and revenue. Mistakes are costly, and there are fundamental marketing errors you’ll want to avoid to improve your ROI.
All businesses need marketing for brand building and visibility too, and it requires strategic thinking, time, energy, and money, and a good dose of practical skills as well as commonsense. 🙂
Start As You Mean To Carry On
Learning as experimenting will result in a few fails. You’re in business, so you know it’s impossible to get everything right all of the time. However, some common marketing errors can be avoided, and they include:
- Marketing campaigns that have not been tested
- Lack of research into channels, strategies
- Targeting the wrong audience
- Poor quality content
- Lack of goals
Planning to succeed with your marketing starts with setting goals. You will only know if you’re on the right path and your investment is worthwhile when you know what you need and want to get from it.
Do you know what you want to achieve, how and with what resources?
Create goals for every aspect of marketing from your initial research, strategies execution, and outcomes measurement.
Lack of Research
Firstly, a common problem that arises in marketing is people going full steam ahead on campaigns without completing enough research on various factors to warrant the investment.
While you can’t just keep researching forever without taking action, do be careful not to spend a lot of time energy on strategies without first finding out the information you need to proceed effectively.
Businesses exist due to having products or services that customers need and want. How well do you know your customers? To attract more customers, your marketing starts with presenting relevant and high-value content to targeted audiences.
Study your existing customers and set goals and marketing strategies for capturing data on existing and new customers as well as your target audience – you’ll be using this data in future targeted marketing and sales campaigns.
Once you’ve got the essential customer data, you can get their personal preferences. This customer data heightens the personalization of marketing messages, so they are unique. Personal preferences data includes location, age, job, family size, interests, and when you can get it – income.
Research your competitors
You also need to know what your competitors are doing operationally and marketing. For your marketing strategies to get results, they need to stand out well from other campaigns and communicate what makes your business different, so potential buyers pay attention and complete the calls to action you provide.
Platforms, channels, and experts
Depending on your goals, you may need to research marketing platforms. For example, if you are to commence SMM (social media marketing), which platforms or social networks are suitable for your target audience?
It is likely the more you find out, the more you need to know, and to avoid paralysis by analysis engaging expert marketers, SEO professionals, advertising, and outreach agencies may be a better use of your time.
Taking this action, you can avoid needing to spend lots of time learning and trialing marketing strategies experts have already used, and as such, they know what to do to prevent costly errors.
Failure to Test and Measure
If you want to get the best return on investment from your marketing choices over the years, you need to keep learning what works and what doesn’t from everything you create.
You can’t do this, though, if you don’t test and measure.
A common mistake novice marketers make is a failure to set up measurement, and without it, there is no ability to analyze what worked and for which audience.
For example, if you publish a report about some research your company conducted, the only way you’ll know it was helpful in your intended audience is to add to its view and click measurement.
In email marketing, social networks, and so on, always remember to use marketing platforms and features that measure engagement and conversions so you can appreciate if the content was what your audience liked and needed.
Not Taking Advantage of the Right Data
In this day and age, when we’re all online so much and tech tools do a lot of data tracking, gathering, managing, and analyzing for us, there’s no reason not to be well informed and up to date on various factors related to marketing your business.
Having access to the correct data when you need it will help you make decisions, create content that gets traction, learn more about the leads that come through, and so much more.
You can utilize data points across various platforms, including:
- Website visits and other site metrics as collated by Google Analytics
- Email open rates and links clicked
- Social media stats e.g. likes and shares
Having plenty of information will help you develop and create user-friendly, goal-driven marketing collateral and learn precisely what yields the best results.
However, be wary of collecting the wrong kind of data or overwhelming yourself and your team with too much information, which is a common mistake.
Focus on the factors that are most vital for your needs. Encourage data democracy throughout your organization so that everyone who requires access to pertinent details can get to it when they want and don’t have to wait for tech personnel to help them.
Plus, steer clear of “dirty” data that can lead you astray. For example, you don’t want to be paying to create and send emails out to people who are no longer relevant contacts.
Utilize customer relationship management (CRM) and data management systems to clean up the data you possess and sort out and group prospects and clients.
More Mistakes To Avoid
There are many other mistakes to be aware of and avoid, too, including:
- Offering what you can not deliver
- Ignoring emotional drivers
- Forgetting to proofread and edit content
- No call to action in campaigns
- Landing pages that don’t convert
Marketing is everpresent, and it’s constantly evolving. As consumers spend more time online, your digital marketing campaigns need to work smarter. Create goals and learn from the experts.
Marketing is challenging and exciting plus it’s about to get interesting with the Metaverse!