Ana Margarita A. Olar| Foodfindsasia.com
There are many topics about marketing strategies and why they succeed but we also need to look on these marketing mistakes so that we can avoid them:
MARKETING MISTAKE #1: FAILURE TO PLAN
Having a plan is essential in any undertakings may it be business, a project, and even on marketing. One of the reasons of marketing failure is the lack of marketing action plan.
Yes, you’ve got a lot of ideas, but you’ve got to make those ideas work by putting them systematically, step by step in an organized plan.
When you know how to plan, there is no failure because you know that you have to start where you left off.
MARKETING MISTAKE #2: WRONG AUDIENCE
So you have planned well and systematically, but to whom are you going to try you marketing ideas?
Do you have the right audience? Or do you use the appropriate marketing media to reach your target clients?
Marketing is not only about featuring how good the product is or how durable it is, it’s also about knowing the audience who really needs your product.
So do your research, know your target market so that you’ll have the idea about the perfect marketing media to be used when marketing your product.
MARKETING MISTAKE # 3: UNDERESTIMATING THE COMPETITORS
When you are searching for marketing lessons regarding marketing failures and success, there is no other good point of your study other than your competitors.
Analyze their marketing plan. What are their strategies which you can improve? What marketing strategy can you use to attract more potential customers than they have?
What are their strategies that you can apply to keep the loyalty of your own customers? One of the reasons that business fail is when the owner disregards their competitor.
Learn from Nokia’s marketing mistake. They never did anything wrong but they underestimated other competitors and never innovated.
MARKETING MISTAKE # 4: FAILURE TO ADAPT TO CHANGES
This is true especially today because there are so many apps and social media platforms that are being introduced from time to time.
Make sure that you are tapping these social media. Having your own web page that is well presented and well maintained helps with the credibility of your business.
Once a potential client asked for your website, e-mail add, or social media address, and there is none, chances are they will be turned off to do business with you.
MARKETING MISTAKE #5: FAILURE TO MEET THE NEEDS OF YOUR CLIENTS
Yes, this is more of customer relation mistake but I think it has some effect on marketing as well.
Word of mouth is a very strong marketing strategy but also your worst enemy when it comes to business.
Having a positive review from satisfied customers could greatly increase the credibility and loyalty of your clients, but receiving negative feedbacks can cause a great loss to your business especially if you don’t act on it at once.
There are many business start-ups that fail within a year of operation because of these marketing mistakes. So make sure you don’t waste your effort and budget by committing these marketing mistakes.