Just because you made mistakes doesn’t mean you are a total failure in building your business because even seasoned entrepreneurs make mistakes too. Sometimes, things just don’t go as planned. There are many ways you can make mistakes when building business especially in the marketing area. What’s most important is use mistake as positive asset to teach you valuable lessons so you can improve your business.
Mistakes small business owners can avoid
Mistakes are sometimes inevitable because of one thing or another. However, there are also mistakes that can be prevented. It is important to avoid big mistakes that can cost your business a lot or damaging in long-term. Below are the types of mistakes due to misunderstanding of best marketing practices and you can actually avoid them:
The first mistake is doing branding on your own even though you have no sufficient skill. Marketing your business without a brand strategy is bound to fail. Branding is essential in marketing and you need to do it with good plan and strategy. It is not only about logo but also about the message you want to deliver. If you don’t understand how to do it well, do not hesitate to bring in an expert.
Treating everyone as your potential customers. While it is good to be hopeful and positive, a mindset like that won’t get you anywhere. What you offer might not be suitable for everyone. Hence, it is important to decide who your target customers to market to. Be more specific with who you want your brand to be recognized by and it will help your brand to standout. Be unique and and relevant by crafting your message specifically for one niche segment of the marketplace.
Making broad assumptions about customers. Everything that is based on assumption often ends bad. Keep in mind that you are not your customers so making decision based on what you assume of them will do no good for your business. The result will be disappointing. Rely more on data and research to support your ideas. It is highly likely that you have different perspective with your customers. So make sure not to assume you know them well if you don’t.
Being all out from the initial marketing campaign to get the spark. This is marketing mistake you should avoid because investing too much money at the start of your campaign is too risky. If it fails, it costs a lot. Excess waste will be what you get. Instead, get to know who your audience first then decide what kind of campaign that work best. Slowly, you will get more data about your audience and what platform that work best for your marketing campaign.
It is common sense to avoid the mistakes above. However, there are still many entrepreneurs and small business owners alike who still make those mistakes. Build your network with marketing experts and balance the advice you get with your knowledge of the marketplace, experience, trends, etc.