On average, businesses in the United States spend around 6.4 percent of the company’s revenue on marketing. This might not seem like a big percentage, but it can add up to be a pretty significant chunk, especially if you’re running a larger corporation.
Are you worried that you’re not getting the most bang for your buck when it comes to marketing?
If so, read on to learn about 10 of the most common marketing mistakes business owners make. You’ll also learn what you should be doing instead to level up your physical and digital marketing strategies.
1. Not Creating a Marketing Plan
Whether you’re concerned about print marketing, digital marketing, or both, you need to start with a clear marketing plan. A marketing plan gives you a guideline to follow and helps you to set clear goals for your business and your team.
Without a plan, it’s hard to tell whether or not you’re making progress and moving in the right direction. You’ll just be throwing stuff at the wall to see what sticks.
2. Not Having an Updated Business Website
Has it been a while since you updated your business website? Do you not have a business website at all?
If you’re looking to improve your approach to online marketing, an updated, professional business website should be at the top of your priority list.
Your business’s website is like a virtual business card. If it doesn’t look good or doesn’t run well (or if it’s non-existent), people aren’t going to be interested in learning more about what your company has to offer.
3. Not Understanding Your Audience
A lot of business owners and marketers think they know their target audience. If they haven’t taken the time to do research and learn about the people buying their products or services, though, they might be missing out on important marketing opportunities without even realizing it.
How well do you know your audience?
Do you know their age range? Their gender and interests? Do you know which social media platforms they use the most?
If you haven’t done any market research, or if it’s been a long time since you last assessed your audience, now is a good time to get started.
4. Not Using Social Media
A strong social media presence is just as important as a good-looking, high-performing website when it comes to digital marketing in 2021 and beyond. Are you using platforms like Facebook, Instagram, and TikTok to market your business and reach your audience where they’re already spending their time?
When you conduct market research, you have a chance to learn which platforms are most appealing to your target customers. For example, older customers are more likely to frequent Facebook, whereas younger customers are more present on TikTok and Instagram.
5. Ignoring Your Competitors
Some marketers assume that they shouldn’t worry about the competition. They should keep their eye on the prize, stay in their own lane, and work on making their marketing plan as airtight as possible.
This isn’t a terrible approach to marketing. However, it can cause you to miss out on valuable insights that could help your company see results faster.
When you pay attention to your competitors, it’s easier for you to see what’s working and what isn’t. This, in turn, helps you figure out what you should and shouldn’t be doing to reach your audience with your own marketing campaigns.
6. Only Doing What’s Trendy
On the flip side, make sure you’re not so focused on keeping up with your competitors that your marketing materials become totally unoriginal.
If you only do what’s trendy or popular with other brands, you run the risk of becoming invisible to your customers. They’ll have a hard time distinguishing your brand from another and won’t have a chance to resonate with your message and the products or services you offer.
7. Not Focusing on Problem-Solving
Some businesses make the mistake of only focusing on themselves when creating marketing materials. They get so obsessed with showing off and listing all the ways that they’re the best that they forgot to think about the customer.
By putting yourself in the customer’s shoes and identifying their problems and pain points, you’ll have an easier time relating to them. This, in turn, can help them see why your product or service is the solution to their struggles, which increases the chances that they’ll want to buy what you’re selling.
8. Not Collaborating with Your Sales Team
Your marketing and sales strategies should be in alignment with each other. If your marketing and sales teams are functioning completely independently from one another, you’ll have a harder time seeing the kind of results you’d see if both teams were collaborating on a regular basis.
9. Not Monitoring Analytics
Makes sure you’re paying attention to the data. Monitor your website and email marketing analytics, and be sure to look at the analytics for your social media posts and ads. Keeping track of analytics helps you to get a better sense of what’s effective and what isn’t. That way, you don’t waste time in the future on things that don’t provide good returns to your company.
10. Not Working with a Digital Marketing Agency
Are you looking at this list of mistakes and wondering how you can restructure your marketing plan to avoid making them? Are you wondering how you’re going to find time to do that?
If you’re overwhelmed by the idea of overhauling your marketing strategy, the experts at OrbitWeb Digital Marketing Agency recommend outsourcing and hiring a team of professionals. Working with experts gives you access to the latest tools and technologies, and it frees you up to focus on other aspects of running your business.
Avoid These Marketing Mistakes
When you’re running a business of any kind, it’s common to make some (or all) of these marketing mistakes. Keep the advice mentioned above in mind, though, and you’ll have a much easier time streamlining your marketing strategy and seeing great results.
Are you interested in learning more about building and promoting a business? If so, check out some of the other marketing-related articles on our site today for more tips and tricks.