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Common marketing mistakes entrepreneurs should avoid

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It’s common to make a decision or implement something and doesn’t go as planned; but how do you deal with the repercussions? Succeeding in marketing needs to have thorough knowledge on the dos and don’ts. 

Marketing is important because it helps you sell your products or services and if any business is to make money, marketing is an essential channel to reach that end goal.

Mistakes to avoid and why? 

Ignoring the brand

For Isaac Mugisha, a sales and marketing person, to build a successful business, brand building will be an analytical component. When it comes to marketing, small businesses tend to overlook the importance of branding. They tend to think of it as the domain for big business with large marketing budgets and probably TV commercials. Branding can’t be taken for granted as it is a powerful tool to any business whether small or big.

He says that branding motivates the buyer to purchase, deliver a consistent message, build credibility, create an emotional connection for customers, and build loyalty.

Marketing to everyone

In marketing, Mugisha says that everyone isn’t a target customer, but it is your responsibility to figure out who is your intended client. If you already have customers, you can analyse your customer data to find commonalities. 

Marketing experts recommend creating buyer character – fictional characters who represent your ideal customers.  But also uniqueness should be key, and if you want to make an impression, you have to be relevant, he adds.

“Being both unique and relevant requires you to create specifically crafted messaging for one segment of the population at a time. Identifying your target buyers helps you determine which prospective customers are good fits for your brand, so you can stop wasting your sales and marketing resources on people who have no interest or need for what you’re selling.”

Not having a business plan

According to Business News Daily, too many businesses start without a basic plan, and if you fail to plan, you are essentially planning to fail. A start up should map out a business plan, even if it is just one page. It should include how much it costs to operate, how much they anticipate selling, who would buy their product and why. 

Ignoring the competition

“While you want to make sure you are differentiating yourself from the competition, there is a lot you can learn by scoping out your biggest competitors. Check out what your competitors are doing on social media. Once you have some research then conduct strengths, weaknesses, opportunities, and threats for competitors and display some new marketing opportunities.”

Social media abuse

Mugisha explains that great marketing on social media can bring remarkable success to your business, creating devoted brand advocates and even driving leads and sales.

He notes that social media marketing is a powerful way for businesses of all sizes to reach prospects and customers. Your customers are already interacting with brands through social media, and if you’re not speaking directly to your audience through social platforms like Facebook, Twitter, Instagram, and Pinterest, then you’re missing out. 

To him, social media marketing can be a cheap but effective marketing solution and is a must-have for most small businesses. However, starting a Facebook page and sending a few tweets isn’t all you need to do, there is more to it. Social media marketing is a complex marketing tool, and if used the wrong way can actually detriment, instead of helping. 

Ignoring your product

He says that entrepreneurs shouldn’t assume that if they get their degree of intensiveness selected, amazing results are a must. Product and marketing leaders need to work together to drive acquisition, retention and upsell through continuous testing and improvement.

editor@newtimesrwanda.com


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