Common Marketing Mistakes
Marketing may seem like an easy task to some, but it is not as simple as it may appear to the naked eye. There are many hours of planning and strategy that go into marketing for a business. Without the proper usage of marketing, your brand can take a hit. You can also take a major loss in revenue because of a marketing oversight. Therefore, it is imperative to avoid the following marketing mistakes.
IMPROPER BRAND POSITIONING
Many companies use brand positioning to separate themselves from the competition. Strategic market positioning helps build momentum for the brand. This means that every time a new product or service is marketed, it builds upon the last. This helps propel the brand forward.
The common error in this part of marketing is marketing a single product instead of a puzzle piece to the whole brand itself. Think about how your brand is perceived overall and create branding guidelines to refer to when marketing a new product. Your overall brand needs to have a unique style and voice. But, instead of starting over for each campaign, branch off of your brand’s core content so that it feels cohesive. If you properly use brand positioning, it can save a ton of time and money.
Every product or service should relate back to the core material or overall focus of the brand. If not it may fall short and not be as successful as one would hope. This helps create a niche market for the business.
NOT HAVING A USP
A “USP” is known as a unique selling position. This is your main statement or your “selling point” on why the customer should invest in your product or service. It helps set the business apart from the competition. It shows how the benefits of your business directly address the customer’s needs in a way that no other product does. Are you solving a unique problem that no one else is solving? Are you luxury but affordable?
Customers have brands all around them trying to grab their attention, but a USP can set you apart from the other guy. Most businesses either do not have a USP or do not execute it properly. The USP should be the foundation for every marketing decision that is made. This will help the customer understand why they need your business and what sets it apart.
NEGLECTING EXISTING CUSTOMERS
Failing to capture repeat customers can be a detriment to the business. Customer loyalty is what helps keep the business afloat. Focusing on new customers and neglecting the ones you currently possess is a very common marketing mistake. Yes, getting new customers is important, but it is not nearly as beneficial as marketing to existing customers. Selling to a new customer is way more expensive than attempting to sell to a previous one. There are fewer barriers to overcome and less persuasion involved if they have already used your business in the past. It is important to show how much your business appreciates the customers. People love to feel appreciated. It is a common human desire.
If your marketing is only catering to new members, you are missing the big picture of trying to build a business. Repeat buyers should be important, if not the most important, to a business compared to new customers. Word of mouth of existing customers is a free marketing tool in and of itself.
If your business has been a victim of any of these mistakes, it is invaluable that you correct them. Creative Juice is our name and marketing is our game! Feel free to contact us for any help down the road.