Getting your marketing strategy right is crucial to reaching potential customers. It should be both focused and targeted toward your key audiences. It may sound simple but we have come across many new businesses that make the same regular mistakes when starting out. And when you make marketing strategy mistakes, they can have a disastrous effect on your brand and business.
Here’s a few of the most common marketing strategy mistakes we have encountered over the years:
Poor or limited research.
Many companies underestimate the value that market research can bring to their business. They see it as time-consuming, especially if they are experts in their field. But the truth is without solid research, you can’t set key performance indicators (KPIs) which should the basis of your marketing and business activity. Without knowing what the goal is, how can you possibly reach it?
Not having a USP.
A USP (unique selling point) is what makes consumers and partners choose your brand over others. It should be the one thing that highlights your brand over everyone else on the market, and to not have a USP is the same as saying that your brand has nothing to offer the world.
Too much focus on acquisition.
A good business is based on both customer acquisition and customer retention. As much as you want to gain new customers, you also need to focus on keeping the ones you already have. Otherwise you may find yourself struggling when new business is slow. And don’t you want to value loyal customers, too?
Have you been faced with any of these issues? It’s okay, we understand that marketing strategy mistakes happen. We’ve experienced ourselves in the past, which is why we are happy to help you take that step forward.
Reach out to our team today if you’d like to discuss your marketing strategy mistakes, and how we can rectify them.