Businesses across all sectors can benefit from well-executed marketing campaigns. If your strategy isn’t bearing fruit, or you’re failing to cause a stir online, you could be making mistakes. Here are some common errors to avoid in 2020 and some tips to help you turn your fortunes around.
Failing to conduct research
Research is critical for drawing up and delivering effective marketing strategies. You can use market research techniques and data analysis to learn more about your ideal customer, to monitor the competition, to spot emerging consumer trends and to determine the best ways to connect with audiences. If you don’t carry out research on an ongoing basis, or you launch a campaign based on beliefs and ideas, rather than facts and figures, you run the risk of missing the mark and wasting money.
Attempting to go it alone
Running a business involves spinning several plates simultaneously, and you may encounter jobs that don’t match your skill set. If you don’t have expertise in marketing, and you don’t have marketing experts on your in-house team, it’s wise to enlist the help of experienced professionals, rather than trying to promote your business by going it alone. Look for agencies that specialize in your sector, for example, SEO for healthcare businesses, web design for retail companies and legal digital marketing, and look through portfolios and review results before you decide which agency to hire. You may spend more on marketing by outsourcing instead of trying to tackle this task in-house, but the results should represent a healthy long-term investment.
Using the wrong techniques for your business
When you are drawing up a marketing strategy, it is useful to have a focus and to select techniques and channels that are relevant to your business and your target customer. It can be tempting to go for a scatter-gun approach to try and reach a wider audience, but there is no point in reaching out to people who are not interested in the products and services you sell. Use your market research to pinpoint effective platforms and monitor the progress of your campaigns to see which methods are most lucrative. If you’re planning to use social media marketing, for example, concentrate on networks that are most popular among your target demographic and use content that will appeal to your ideal buyer. Young people aged between 18 and 25, for example, tend to prefer Instagram and YouTube to Twitter and Facebook and they share video content much more frequently than posts made up of passages of text.
Neglecting repeat customers
You often see adverts and online promotions designed to entice new customers. Businesses benefit from attracting new clients, but this should never come at the cost of losing repeat customers. Customer retention is key for enhancing brand reputation and competing with rivals. If you don’t look after your customers, there is nothing to stop them from deferring to a competitor. You’ll lose a client, but you could also end up missing out on many more customers, as word of mouth is powerful, especially in the digital age. Loyal customers are more likely to leave glowing reviews and recommend businesses and brands to their friends and family. More than 80% of people now read online reviews before making a purchase, so customer service is more important than ever. Your marketing campaign should seek to reward loyal clients and make them feel special, as well as to bring in new buyers.
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Making mistakes can be costly when it comes to marketing. Hopefully, this guide will help you identify errors and make improvements.