Top 5 marketing mistakes that can hinder your business growth. Learn how to steer clear of these pitfalls and pave the way for success in our latest guide. Marketing is a vital part of growing your business. Scaling your business will require you to scale your marketing efforts.
However, with so much information in the marketplace and so many ways to market a business, it can be tricky to market effectively. It can be easy to make mistakes and invest in efforts that can cost you money.
Here are the top 5 marketing mistakes to avoid when scaling your business.
1. Selfish Marketing Efforts is a marketing mistake
When we start a business we usually do not have a business. We are “hustlers” sort of speak.
You are full of excitement and you tell everyone about what you do. You post on social media and spread the word about how great your product and service is.
Sales come from your network, but when your network gets tired of seeing your posts and is sick of hearing about how great you are, you try the same approach with strangers, and…it doesn’t work.
Focusing on how great you and your business is will never get strangers to buy.
People only care about what’s in it for them, not about you.
Focus on really getting in the mind of who you serve and the transformation they are after. Show them you can give them that outcome through what you offer.
2. Not Having a Brand Strategy
You established your business in a legitimate manner, and now you find yourself in need of a fresh logo to represent your brand. Where you decide to enlist the services of a professional to create this logo, and when it’s completed, it embodies everything you had envisioned. You feel a sense of pride and eagerness to showcase it to the world.
Diligently place your new logo on various platforms, making it a ubiquitous presence. However, despite your efforts, you struggle to expand your business in the desired way. Why is this the case? It’s because a logo is just one component of a brand, and in reality, it’s a relatively small part of an overall brand strategy.
A comprehensive brand strategy begins by defining your business based on your core values, mission, vision, unique value proposition, go-to-market strategy, brand voice, and more. Only by establishing a solid foundation in these areas can you then create visual elements that truly stand out and effectively attract your target audience, enabling your business to grow.
Additionally, it’s important to remember that your visual elements should not solely reflect your personal preferences; they should primarily cater to the needs and preferences of your customers. It’s essential to avoid being self-centered in this aspect.
3. Focusing on Quantity over Quality
It’s essential to put out content with frequency and consistency, but it’s more important to reach the right audience instead of a broader audience.
If you continuously put out content and it doesn’t get the traction that you’d like, you need to make sure:
· You are reaching the right audience
· Your message to your audience connects
· Your visuals grab your audience’s attention
· You have a strong enough offer
4. Not Using the Right Marketing Channels
There are so many marketing channels, but all of them may not be the right channels for you, especially when you are looking to grow and scale your business.
Choose your channels based on your target audience and your business goals. Picking the wrong channels will likely cause you to waste time, energy and money.
Here are some things to consider when picking the right marketing channels:
· Where do your customers consume information?
· How do they like to consume information?
· What do the platforms you’re using want you to do to reach your customers?
5. Not Investing in Marketing is a marketing mistake
Picture this, you have an atm in your office. Every time you put a dollar in, it gives you $5 back.
Would you get rid of this ATM?
Better yet, would invest more into it to get more back out?
I think it’s safe to say we all would (unless you live off grid and can’t use more money)
That’s the power of investing in marketing.
Once you understand who you serve and your message and offer have been tested and your customers have been successful with you, investing in marketing amplifies your efforts and creates predictability in your business.
Investing in a marketing and advertising campaign is like hiring a street team to tell all the right people about your big party coming up and getting them to bring them there.
When done correctly, all you need to focus on is delivering as much value as possible to your customer because your campaigns are creating awareness for you 24/7.
So, in closing, make your marketing about your customer and not about you. Develop a brand that people know and grow to love. Reaching a small amount of the right people is better than a large amount of the wrong audience and know what channels to use and not use when reaching your audience. Lastly, invest in marketing.