What’s a pirate’s favorite thing about marketing?
Marketing plays an important role in establishing relationships between customers and businesses. Marketing also helps maximize profit and exposure of a company. But however, if done incorrectly it can have an opposite effect!
1) Failing to set goals
For digital marketing-the rule of thumb is to be ROI focused. But is also very important to be goal orientated. Failure to set goals could be a way to ensure the failure of a campaign. Decide what you want your marketing campaign to achieve-set goals and timelines. However, it is important to keep in mind that setting goals may seem easy-but it is important to be as precise, measurable, realistic and attainable…as possible.
Having clear set goals help you monitor benchmarks along the way and identify if changes need to be made.
2) Lack of Research
Market research and testing are crucial because they can determine the performance of each of your marketing efforts. They take the guesswork out of what your potential customer wants from you. With proper research and testing you can figure out what audience demographic does your company appeal most to and how you should position your product.
Bottom Line: Research helps you learn more about your customer and the right ways you can market your products to build brand awareness.
3) Failing to Capture Repeat Customers
Customer retention is an important marketing business strategy that helps increase profits and reduce turn-around rates. Always keep in mind a huge chunk of your business profits comes from existing customers. Failing to resell to your current customer base could result in lower profit and lower retention rates.
Bottom Line: Don’t let your customer go to your competitor.
4) Being Anti-Social…Media
Social Media can be like being at a cocktail party and having to talk to people you were avoiding for the past 20 years. But social media can also be like a cocktail party and having to talk to people that you have been missing for 20 years. Social media can be a great way for a company to get exposure. It is also a crucial component on how to boost your company site’s SEO. You can use lower-cost social media strategies and increase traffic to your website.
Bottom Line: Social Media is a great tool to increase customer acquisition and traffic to your website.
5) Aggressive email blasts
Email marketing is a great tool to build brand awareness and engage with your customers! But sometimes, it is easy to forget the importance of proper audience segmentation. Aggressive email blasts affect deliverability and increases the chances of customers putting your much important email in the dreaded folder…Spam.
Bottom Line: Don’t spam your customers with emails. Personalized emails come a long way.
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