Small business owners sometimes lament over fact that they don't have a million-dollar marketing budget. While we've all thought about how much easier things would be if we had unlimited funds, it's still possible to earn a decent profit with right marketing plan. Thousands of home business owners can attest to their success at building a profitable business on a 'shoestring' budget.
However, making a few mistakes can just as easily lose you a nice chunk of cash. Are you making these common mistakes?
__1. Trying to market to as wide an audience as possible.
You can't be everything to everyone, no matter how hard you try.
Who did you originally create your product for? Assuming you did your research and know that there's a demand for your product, then you also know who your audience is. Focus your efforts on reaching these people and showing them how your product or service will benefit them. Don't worry about pleasing everyone else.
__2. Focusing too much on you or your company.
How many times have you seen a site that says something like, "We're an established, 100-year company listed on NASDAQ with over 10 billion dollars in sales, powered by our cutting-edge, state-of-the-art blah-blah-blah technology..."
*Yawn*. So what? As a prospect, I don't care. I want to know how your product or service is going to benefit ME.
Focus on your customer. All details about you and your company should be background information, not focus of your marketing efforts.
__3. Sticking with a marketing strategy that doesn't work.
Don't get caught up in idea that 'things will get better' if you're not seeing results with your current marketing strategy. If you do same things, you can expect same results. If you've put in an honest effort and it's simply not giving you results you're looking for, then it's time to try something else.
__4. Changing or discarding a strategy that works.
It's easy to feel 'bored' with same old thing... but if you have a winning marketing strategy that consistently gives results, then why change it?
The desire for 'something new' isn't a good reason to discard a great strategy. Sure, you can keep experimenting and testing new methods to see if you can improve upon your results... but be aware that your profits may suffer. Be sure to keep backups of all your marketing materials; if your new strategy doesn't work, you can always go back to old one.
__5. Inconsistent or no follow-ups.
Although some people buy on impulse, many prefer to think things over first. There can be any number of reasons why a prospect doesn't buy right away: money's tight at time, they have other pressing concerns, they were distracted before they could purchase... whatever reason, be sure to follow up with your prospects. You'll be much more likely to catch them at a time that they're ready to buy.
__6. Taking a passive, rather than pro-active role.
Sitting back and waiting for money to fall into your lap just isn't going to work -- no matter how 'automated' your business is, or how wonderful your product. Take an active role in marketing your business... and that includes asking for referrals. Let your customers know that you'll do what you can make them happy, and ask them to pass along your URL to others who may be interested.