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bylines are included. A courtesy copy of your publication would be appreciated - send to: info@DebbieAllen.com 5 Marketing Mistakes You Can’t Afford To Make
In virtually every area of business, there will be pitfalls along way. Marketing is no exception. Time and time again, retail stores of all sizes make same costly mistakes. But knowing how to avoid these mistakes can save you energy, disappointment – and money.
Mistake 1: Eliminating marketing efforts when times get tight.
When cash flow slows, advertising, direct mail and other forms of marketing are easiest expenses to reduce, right? But cut these, and you eliminate very activities that will bring in new customers to turn your business around. This is time when you may be spending more time analyzing results of your marketing efforts. But by stopping marketing efforts, you will be setting yourself up for additional loss of business.
Mistake 2: Not measuring results.
Don’t wait until times get tight to start measuring results of your marketing efforts. By analyzing regularly, you will be able to reinvest in what is working, and drop what isn’t. Ask customers how they found your business, and then track results. Use in-store or on-line coupons. Or host a focus group of a variety of customers to discover what attracts them to your business.
Mistake 3: Putting all your marketing dollars in one area.
If your entire marketing budget is used on just one method of promoting your business, you won’t realize highest return on your investment. Diversifying your efforts will increase frequency and reach of your messages and stretch your marketing dollars.
Businesses can get hooked into one large advertising program with a local newspaper, magazine or radio station, and put majority of their marketing dollars there. They feel as if they have to advertise with same media source, just because they always have or because fear they will lose ground since their competitors are advertising there as well. Some business owners actually stay with a company for fear of upsetting their sales associate.
