One of the common
mistakes business start ups make is not knowing the right time to invest into
marketing. Investing into marketing
wrongly and at an inappropriate time could mar the chances of new business
thriving. Here are some common marketing mistakes and how to avoid them.
INVESTING SO MUCH SO
EARLY: when starting a business newly, it is advisable to start small and slow,
then groom your business over time. Investing so much on marketing and
advertising might be a financial drainage when your business is not deeply
rooted.
NOT KNOWING YOUR
AUDIENCE: when newly investing in a business, it is important to take your time
to figure out who your audience are and how you can reach them easily. This is
better than running a goose chase and investing in different marketing channels
which might not capture the right audience for your business.
WASTING TIME PERFECTING
YOUR BRAND: most new businesses get consumed in branding and social media
flaunting that they forget to focus on the quality of their products and other
important aspects of the business. They end up wasting so much time and
resources on the branding rather than purposes of the business itself.FOCUSING ON COMPETITORS: some small business start up on the wrong foot by looking so much into their competitors and trying to imitate them. They end up creating a replica of what already exists and have not much of creativity in their products or services. This is mostly bad for business and run the business down in a short pace.
NOT MEASURING YOUR
RESULTS: for every amount you spend on marketing, there needs to be a measure
for potential results or reward. Not knowing if you have a result for your
investment is a business killer. Know which of your links and strategies is
working and don’t be afraid to shut down the ones that are not yielding
results.
Either as a new
business starter or as someone planning to invest later on, note these mistakes
and avoid them and you could end up averting your business from failing.