I see far too many businesses make 3 crucial mistakes when it come to marketing. I will share these with you today, but before I do, I want you to understand something first.
I need you to have a better understanding of what marketing actually is…
I believe some people really don’t have a solid grasp of ‘marketing.’
‘Marketing’ is defined by the American Marketing Association as “the activity, set of institutions, and processes for creating, communication, delivering, and exchanging offerings that have value for customers, clients, partners and society at large.”
I have to say, that I totally agree with the definition, but I think I need to go a little deeper here on my philosophy of marketing.
The idea of marketing is just bringing awareness to you, brand and your business. Easier said than done, right?
Another important component of marketing would be, getting someone to take action.
What’s the use of marketing if you can’t get someone to call you, give you their contact information, or ‘buy’ from you?
This is actually a big one. If you’re a big brand and have a lot of money to brand your logo everywhere like: Television, Billboards, and Magazines and Radio, this strategy can work to help keep you at ‘top of mind awareness.’
The big brands can afford to buy hundred, if not thousands of billboards displaying just their logo. Most won’t even use a call to action. Just their logo and a slogan.
Think of Nike – A swoosh logo and the slogan that says, “Just Do It,”
But more than likely, your business doesn’t have the name recognition and or budget to deploy this type of brand campaign.
If you do, then go for it. I’m not going to stop you. Branding works.
I’m speaking to small to mid-size businesses like, Attorneys, Med Spas, Dentist and HVAC companies who offer a product or service and need to generate more leads and revenues.
The other type of businesses like restaurants, bars, boutiques, and specialty stores, could also fall into this category. Most small businesses do.
It just depends on how committed you are to the process of marketing and what your goals are.
Most businesses I consult with, want to make more money and increase their revenues, period.
My philosophy on marketing is simple.
I want to increase my client’s revenues, while maintaining their good name, and building their brand.
Now, lets get into the 3 Crucial Marketing Mistakes Businesses Make:
#1. You Don’t Develop a Marketing Budget. I see a lot of businesses buy marketing campaigns solely based on price. You don’t want to execute a marketing campaign because a sales representative from a local television or radio station offered you a discount.
Most often than not, you’ll end up getting your commercials that are running in the middle of the night or not during peak hours.
You’ll end up wasting your money on a campaign that probably won’t be very effective.
When you advertise on radio and television, you want to make sure you are running your ads during peak hours only.
For radio that would be during the morning between 6:00am to 10:00am.
For television that would be during the evening news or primetime shows.
Keep in mind, that your commercials will not be cheap and if you are not tracking and measuring your campaigns, you won’t have a full grasp of how well they did.
Remember measure and track everything.
When developing a marketing budget, you should really put pen to paper and come up with a number that you feel can help move the needle in your direction.
You also need to come up with a number that is reasonable for your business. A good marketing consultant can help you determine your number.
Your budget will be based off your goals, your bestselling product or service and your profit margins.
This leads me to my next piece of advice.
#2. You Don’t Track and Measure Your Marketing. Do not start a marketing campaign without knowing how you are going to track and measure the progress.
Tip: If you buy a marketing campaign that includes radio, television or a billboard, make sure you use different phone numbers for every campaign.
That way, when the phone rings, you’ll be able to go back and see what number was used to contact you.
This one tip that will surprise you; Some campaigns are not going to work as well as you thought.
#3. You Don’t Create an Automated Lead Generation & Follow-Up System. Before spending money on marketing, make sure that you have a robust system in place to capture and follow up with all of your leads.
Not having a robust system to capture leads on your website or sales funnel is a huge mistake.
I see businesses spend a ton of money on Google Ad Words or billboards with a call-to-action to visit their website. Once they land on your website, make sure you have an ‘irresistible offer’ in place, to capture the visitor’s email, at the very minimum. A phone number is even better.
That way, you can follow-up later, if they decide not to do business with you at the time they first make contact with your website or Facebook ad.
96% of all visitors to your website will not contact you!
That’s a staggering number when you take into consideration all the money and energy you could spend, to drive people to your website.
I highly recommend that you execute a ‘Retargeting Campaign’ to capture the visitor’s information automatically.
I don’t want to get to high level with Retargeting, but basically, we drop a pixel on every visitor’s browser, allowing us to follow them all over the internet (on other websites) with ads of your business.
The strategy is to get people to take another look at your website or offer, again. The key is to keep showing them your ad that shows them an offer, that gets them to buy from you.
The average consumer must see your ad about eleven times before they may decide to contact you.
When we execute ‘Retargeting’, we can capture 100% of every visitor to your website! Ask yourself this question right now, “How many
visitor’s contact information are you colleting right now?
Only 12% of businesses are using the ‘Retargeting Strategy’ I’m talking about.
If you found this article helpful or would like to contact me, you may do so by email at [email protected]