5 Marketing Mistakes New Businesses Make
Are you a brand new business owner? Sometimes navigating the marketing waters can be difficult. Maybe you’ve made some marketing mistakes along the way. Check out this list of common marketing mistakes that new business make, and what you can do to fix them.
- You decide not to market your business at all. Word of mouth is great. With a dedicated group of friends willing to spread the news about something simply by talking about it, a lot can get done. You can send word about a fun gathering you’re having that weekend, or plan a surprise party for a friend.
What you shouldn’t do is let the success of your business hinge on it.
One of the biggest marketing mistakes you can make as a new business owner is simple, yet obvious: you decide not to market your business at all. Maybe you think that your idea is so incredible that you won’t need to market it.
But you should remember that in a world flooded with new ideas and unique concepts, it’s easy to get lost in the fray. If you stand out, you can succeed. That’s why investing in marketing and creating a marketing plan is so important. A marketing plan is a comprehensive document or blueprint outlining a company’s advertising and marketing efforts for the coming year.
If you want to create a plan, but you’re not sure where to start, check out our list of 6 Steps to a Successful Inbound Marketing Plan for 2016.
- You don’t have a website. We all know how important using social media is today. On any given day, users post 350 million photos to Facebook. On that same day, Instagram users upload 80 million photos. And in just one minute of that day, 300 hours of video are uploaded to YouTube, according to Brand Watch.
Because of those staggering statistics, it’s easy to believe that social media is the only way you should be marketing your business.
So why is a website even important to begin with? According to Hubspot, 78% of Internet users conduct product research online. That means that someone’s first impression of your business (or lack thereof) could be your website.
To help you get started on brainstorming for your own website, check out our blog post about the 7 Elements of Good Web Design.
- You’re targeting the wrong audience. Figuring out who your business, products, or service will appeal to isn’t always easy. Your success depends on the people who are purchasing your product or service. So it’s important to know how can you reach them. Before you can decide how to market your product or service, you should develop a buyer persona – a model or prototype of your ideal buyers. Check out How to Determine Your Target Audience for some more help!
If you’re targeting the wrong audience through your marketing efforts, it can adversely affect your business. At Pulse, we create a customer persona to determine who we should target. Below is helpful tool to help you get started. For more help creating customer personas, check out our Customer Persona Checklist.
- You didn’t hold a grand opening. An event offering food, music, and giveaways is always an excellent way to attract attention to your new business – and potentially gain some new customers. If you didn’t hold a grand opening, you probably missed out on bringing in some customers you haven’t connected with yet.
But don’t worry – it’s not too late! Many people wait a month or so after they’ve opened before holding their grand opening, which allows them to get their feet firmly on the ground before drawing in more business.
A grand opening should feature your business, products, or service. Give out 10% off coupons for a product you sell, offer tours of your establishment, or do a giveaway. Offer snacks and maybe even some live music. Make the event something people will want to attend. If you do a great job, then you’ll probably gain some new customers. Getting involved in the community by hosting an event can help build your brand as well.
Pulse recently helped Bangor Federal hold a grand opening for their new branch. Their ribbon cutting ceremony is in the photo to the left.
Investing in a grand opening can pay dividends if done correctly.
- You try to do it all by yourself. Marketing isn’t easy, especially when you’re trying to run the day-to-day operations of your new business. Sometimes you’ll have to pick and choose which marketing strategies to use, because keeping dozens of platforms updated and relevant is difficult and time-consuming.
If you’re serious about marketing your business, hiring someone to take care of the upkeep of your website, social media channels, traditional advertising and more can help you out in the long run – and take some of the burden off your shoulders. Hiring marketing professionals can also help give your business a more polished and professional appearance.
Have you made some of these marketing mistakes? No worries! It’s never too late to jump on the marketing wagon. Start trying out some marketing techniques – and if you need help, you know where to find us.