When dealing with a smaller team generating smaller profits, marketing efforts can often fall by the wayside. But many small businesses tank when lack of visibility is causing a dive in sales. In order to avoid bankruptcy as a small business owner, keep a few of these common errors in mind and learn how to draw in the right customers with the right tactics.
You Don’t Have a Website
One of the first thing a customer will do if they’re searching for a service or product is online search the service they require. So, if your business doesn’t have a website, how do you expect to be discovered when 43 percent of Google searches are conducted for local businesses?
However, if you do have a website, you need to make sure it’s designed with convenience and attractiveness in mind. Take the time to hire a talented web designer, or even better, learn some HTML to save money and have constant control over your site.
When it comes to the content and design, make sure your call to action is the first thing the potential customer sees, and set up the menus in such a way that they can easily find what they’re looking for. And for goodness sakes, place your contact information in conspicuous places! Nothing annoys a customer more than hunting for an email or phone number.
You’re Targeting the Wrong Audience
Imagine trying to sell meat to a vegan – doesn’t go over well does it? If you’re unaware of the needs of your target audience, you’ll likely see a dip in revenue because you have no clue if your product is something they are compelled to purchase.
The best way to formulate a target audience is to create audience personas based on your current clientele, the goal of your service or product, and your direct competition. With this data, you can answer the “what”, “where”, “who”, “why”, and “when,” and specify details like gender, personality, and employment that will impact potential buying habits from your target audience. From there, you can then begin marketing campaigns towards people that are most likely to benefit from your business.
You’re Not Paying Attention to the Competition
If you’re not regularly online searching similar businesses to monitor their strategies and progress, you’re doing you and your business a great disservice. Competition is scary, but it’s healthy having that comparison; it gives you as an owner the motivation to go that extra mile and improve upon your current marketing efforts.
While comparing services, it’s helpful to have some questions in mind and you can even make a chart to compare multiple competitor businesses at once. Some things you can ask yourself include:
- What do they charge for their product(s)/service(s)?
- Where are they located? Do they have multiple locations?
- Do they have an online presence (social media profiles, website, etc.)?
- How many employees do they currently have?
With this frame of reference, you’ll have all the information you need to continue to grow within your industry.
You’re Not Tracking Your Progress
Regardless of whether you are using email or direct mail campaigns, you need to track the responses carefully. The analysis of results plays a role in determining if a change in the message or medium is needed. Analysis can also tell you if the marketing method is cost-effective and should be repeated.
Your Message Isn’t Unique
Comparing your business to others can also backfire. Consumers are bombarded with numerous marketing messages throughout the day, and as a result, many of them are not absorbed or even read. And can you really blame them?
This is especially important if your business model isn’t one-of-a-kind. If you’re trying to sell handmade jewelry with diamond companies all over your city, you’re going to have to distinguish yourself from the rest and convince your audience why your rings and necklaces are better than the rest.
Small business marketing will affect your overhead, your sales, your brand image and more. This is an area that you cannot afford to gloss over without considerable focus and attention. With better understanding of these common marketing mistakes, you can take steps to more successfully implement a marketing campaign for your company.
If you need financial assistance getting started, IOU Financial can offer up to $300,000 in as little as 24 hours.
Guest post: Heather Lomax is a contributing writer and media relations specialist for Gemstone Data. In her blogging experience, she often gives advice on improving marketing strategy for SMBs and formulating innovative ways to make your business stand out.