Save money by avoiding costly marketing mistakes
by Stacey Ackerman, M.A.

 

1. Constantly changing your offerings. Customers need to see consistency and repetition to fully understand what it is you are trying to sell. Make sure that your messages are clear, concise and consistent. A tagline is a great way for people to associate your product or service's key message.

 

2. Saying "anyone" is a potential customer. Let's face it – not everyone wants your product or service. If you try to market to the masses, you will waste a lot of money not hitting the people that are the real buyers. Make sure you take time to identify your target market, from what they drive to where they live and what their purchasing preferences are.

 

3. Focusing on just one type of marketing. Diversity is key to successful marketing. While some businesses may benefit more from direct sales, and others more from trade shows, make sure that you are using a variety of tactics to accomplish your marketing goals.

 

4. Doing what worked in 1994. It is not 1994 – need I say more! If you haven't re-evaluated how you are marketing your business in several years, it's time for an overhaul. Technology has drastically changed how business is being conducted, and it has also changed how businesses must market themselves.

 

5. Mimicking your competition. It is okay to follow your competition, if what they are doing is truly working. However, putting the largest ad in the yellow pages because your competitor is in there is not a wise business decision. Make sure that your mimicking is well-justified.

 

6. Panicking when business is down. You are likely to spend the most money on marketing when you are panic-stricken because business is down. Take the time to write a well thought-out marketing campaign strategy that you will implement all year, not just when the going gets tough.

 

7. Wearing too many hats. As small business owners, we are often control freaks. After all, that's why many of us left corporate America. We want to do everything ourselves and our way. This is especially important if you are a service provider who contributes to your businesses' bottom line – i.e. a physician, dentist, chiropractor or hair stylist. Your time with customers or patients is invaluable, so make sure you are spending it with them.  If the reason you went in to business is something other than business itself, marketing may be best left in the hands of an expert to make sure it gets done, and it gets done well.

 

8. Forgetting about your existing customers. Your existing customers are the foundation that your business is built upon. If you are not routinely keeping in touch with them, you are missing out on the most cost-effective opportunity – repeats and referrals. Make sure to collect all customer names in a database and keep in touch with them at least monthly.

 

9. Spreading your wings too far.  If 80 percent of your potential clients are coming form a 10-mile radius, then don't waste money marketing to the entire metro area. There are many ways to advertise close to your locale, saving you wasted advertising dollars.

 

10. Letting your results go unmeasured. If you don't measure your marketing efforts, how do you know they are working? Find ways to track and measure, such as asking each customer how they heard about you.

 

11. ONLY focusing on tangible results. While this one may be harder to swallow because the return on investment isn't measurable, it is important if you are a new or unheard of business to generate awareness of your product or service. Awareness marketing may mean sponsoring a softball team or a community event for the sake of namesake.

 

12. Creating your own marketing collateral. Your businesses' reputation is on the line with every piece of paper that goes out the door. Make sure that the quality of materials you produce is on par with the image you want to represent.

 

13. Hiring your college kid neighbor to develop your Web site. While the bargain may be there on the front end, in the long run this will cost you time and money. Web site marketing is one of the least expensive ways of doing business, but an easy to navigate site communicating the right message is imperative. If the structure is not set up properly, you will spend countless frustrating hours trying to update your content.

 

14. Designing a low-resolution logo. If you are going to use your logo for any type of printing, make sure it is done in a high-quality format that a printer can use. A low quality logo will cost you more in the long run as printers and designers will charge you for re-formatting the image.

 

15. Using a variety of fonts and colors. Your business is branded by the look and feel you create. You want your marketing materials to be instantly recognized. Even though you are a small business, think like a big one. When you see Target, you instantly recognize the red block letters. Make sure that anything that goes out the door with your name on it has a consistent look and feel.

 

Practical, affordable marketing that works.

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