Managing your small business is one of the most exciting parts about being an entrepreneur. There are so many ways to promote your business and get the word out about your products or services and numerous opportunities for growth.
However, owning a small business can also feel like you’re venturing out into uncharted territory—and that opens you up for many mistakes and potential pitfalls for the growth and success of your business. Here are 7 common mistakes that you should look out for when marketing your small business:
1. Not Having A Marketing Plan
One of the key elements of promoting your business is having a marketing plan to work from. The first mistake business owners make is not having a plan. In order to get the results you want, you need to know what marketing strategies you plan on using, otherwise you’ll be wasting a lot of time and money in the process of growing your business.
2. Not Having the Right Knowledge and Experience
Similar to not having a marketing plan is not having the right knowledge and experience to make your venture succeed. Sometimes experience is all you need to operate a flourishing small business. But other times, you need to take advantage of continuing education.
Continuing your education is a great way to get ahead of the competition and take your marketing to the next level. When time is of the essence and you’re unable to make on-campus commitments, consider an online marketing master degree. This gives you the flexibility to study on your own time and work at your own pace.
Aside from expanding your knowledge, this kind of degree lets you discover how to tap into specific marketing strategies for a given industry. There can be particular strategies for businesses ranging within industries whether it be fitness, landscaping, or food, among many others.
3. Being Unclear About What Sets Your Business Apart
What makes your company different from local competitors? When marketing your business, you need to let consumers know why your product is the best around. Consider starting with a USP or unique selling proposition to help you with marketing.
4. Avoiding Social Media
It’s 2019 – social media is one of the best ways to promote your small business. Millions of people use these platforms every day, making them a key location to market your products and services. Not only is using social media effective, but it’s also super affordable.
5. Not Having a Target Audience
Trying to sell to everyone will not give your business the results it deserves because not everyone is a potential customer. Decide on your target market. What does your company sell? Who do your products appeal to? How can you reach this audience directly?
6. Ignoring Word-of-Mouth Marketing
Word of mouth recommendations may very well be the most reliable type of marketing out there! Think about it – you are more likely to purchase a product if it was recommended by a close friend or family member versus a salesperson.
Don’t underestimate the power of word of mouth marketing – it is free, happens naturally, and can bring new leads.
7. Being Closed-Minded
So, you’re launching your own business – or you’re already a small business owner. This is a sign that you’re open minded to the idea of branching out and be your own boss. Just like managing your time wisely is productive, so is trying new marketing strategies.
Because marketing is ever changing, to receive maximum results, you want to be open to new marketing activities. This way, you’ll always be promoting your business in a fun manner.
Wrap Up
Owning a business takes courage, hard work, and commitment. Keeping these 7 points in mind will help you avoid common marketing mistakes that new entrepreneurs often fall victim to. Consequently, you’ll benefit from an increase of leads, sales, and visibility.
We hope this short guide has helped you know what things to look out for when growing your company. Best of luck!
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