5 Common Marketing Mistakes Your Small Business Might Be Making
Running your small business is no easy feat. You’ve honed your product to perfection, found the perfect location for your brick and mortar, and created the shiniest, most eye-pleasing website. But none of that matters if you can’t effectively reach your customers. Here are five common marketing mistakes to avoid as you grow your business:
1. Lack of clear target audience
If you don’t know who’s most likely to be interested in what you provide, or where you fit in the market, you’re in trouble. Determining who exactly you’re selling too will stretch your marketing dollar by being more specific and effective. Analyzing your current customer base, looking at who your competitors are selling too, and identifying who isn’t in your target audience are a few great ways to tackle this problem.
2. Lack of Budget Planning/Allocation for marketing channels
You’ve got to spend money to make money. From paid ads (your bread and butter) to creative shoots, small businesses often neglect to adequately plan for these expenditures. Setting aside time and money for marketing ensures that you’re invested in growing your business.
3. Not leveraging/underleveraging data
The data exists and you must use it. Lots and lots of data out there for free! Google Analytics is your friend. Don’t ignore it! Demographics, traffic sources, engagement and much more are all at your fingertips.
4. Ignoring your online presence
Online is where the vast majority of people will discover and interact with your brand. Your Google Business Profile is the first thing many new customers will see, so maintaining accurate and useful information there is crucial. Other social media channels also provide an organic way for existing and new customers to engage with your business.
5. Being acquisition focused and not nurture focused
It’s thrilling to see those new customer acquisition and sales numbers shoot up, but where do you go after sale #1? An added focus on retention and repeat customers is what ultimately boosts your AOV (Average Order Value) and LTV (Lifetime Value).
We hope that you found this blog helpful! If you are looking for assistance in navigating your digital marketing strategy, we’re here to help. Get in touch with our team today through our contact page for a free consultation.