The Top 5 Marketing Mistakes NOT to make in 2012Posted On: January 2012
Editor: Tiffany Brewington
Don’t make these five marketing mistakes this year.
1. Procrastination. This includes spending so much time debating on the marketing choices that are available, that you fail to make a choice at all. You may have missed out on the window of opportunity to purchase that marketing program at a special rate. You may miss out on hundreds or thousands of dollars of income that you could have already had by the second quarter of the year, had you purchased that marketing program in the first quarter. If your delay in decision is due to cost, then ask yourself, how long will you wait to be successful?
2. Putting all your eggs in one basket. This includes counting on one marketing channel only to direct all your incoming business. Examples include doing telemarketing only, doing email campaigns only, or doing mailings only. Don’t spend your entire marketing budget on a single source of advertising, unless you have previously proven it’s effectiveness. Realize that consumers respond differently to different methods of marketing, and test accordingly.
3. Lack of research and testing. This often occurs when companies fail to really understand their customers and fail to do research on who their most profitable customers are. Sometimes huge sales efforts are focused on an idea that was never implemented on any test group. This costs companies thousands of dollars in not only wasted marketing but also wasted labor. It is always a good idea to observe an idea from different angles and implement small tests before a huge effort is thrown into something that could be ineffective. On another note, it is equally important to repeat small tests to look for patterns which could be tweaked. You do need to give your marketing a chance to be effective, which quite often includes repeat advertising, or trying the same advertising to different types of potential customers. The bottom line is, if something proves over time to not be working, stop it immediately and identify the imperfections, or move on.
4. Bad Follow Through. All of your advertising methods could be effective, and you could have customers lining up to buy your service, but if you are not following up in a timely manner, then your efforts could be thwarted. Even the best salesmen occasionally slack in this area, which often happens when you become so busy with the clients you have, that you start getting lazy in responding to new inquiries. Potential customers will easily call your competition if you do not respond quickly. It is also good to point out that just because a customer is not ready to buy today, doesn’t mean that they won’t in a week. Get a regular schedule of checking in with prospects, and when you do, have helpful new suggestions and ideas for them...instead of just asking if they are ready to buy.
5. Failure to Change. Many salesmen and women fail to forecast their business outlook with the changes in the economy and technology. For example, with the huge numbers of consumers who shop online nowadays, companies that had no Web presence before are now turning to Google ads or Facebook to promote their business. Due to the overall decrease in consumer spending in the past few years, companies that have always counted on referrals are now realizing that they need to implement direct mail as an additional source of new clients. Many companies, even well-established ones, go out of business due to failure to change. Keep an eye on your market and try different things so your business doesn’t become another statistic.
Tiffany Brewington is Director of Marketing for Record Information Services, Chicagoland's Largest Provider of Public Record Lists. Have a sales or marketing-related question? Contact her here
Get a free demo of any Public Record List here or call us at 630.557.1000
Posted On: January 2012
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