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Video on Common Marketing Errors That Will Destroy Your Business!

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Common Marketing Errors That Will Destroy Your Business!
Vlad Ehrsam
Errors happen regardless of 'what type' of business industry you're operating. Employees make critical errors on a daily basis. This is often due to the company's size, the number of employees, and the inability for management to review departmental progress. To avoid some of the critical marketing errors that occur, you need to recognize and evaluate your strategies.
Lacking a Marketing Plan
It is rare that a small business owner will actually make a marketing plan. This is because most small businesses are started with precious little capital and the concern over a marketing strategy is nonexistent.
To succeed, it is imperative to any business that a marketing plan be devised. It is like taking a map with you on that road trip across the country. You would not want to get lost, would you? Running a business without a marketing plan is a recipe for failure. You have to separate the various marketing elements and craft a plan designed for success and you will eliminate the fear of failure.
Not Paying Attention to the Market
It is not uncommon for someone to not analyze their market by asking the who, what, where and when questions that can help you understand it. Your target market must be accessible because if it is not, you are in trouble.
"Who" refers to the type of customer that purchases the company's products and/or services? This often begins with listing by genders, age groups, ethnic groups, and local establishments.
"Where" is where your prospects are located. This might include the immediate area surrounding your business and also the location of competitor's customers.
"What" Refers to the limits that are set? Location is important! Know the company's competitors' location, and areas they are servicing. This is helpful in determining if any limitations exist.
Interchangeable Services and Products
It is not uncommon for business owners to go from one endeavor to the next without being specific. People become confused when this happens because they do not know precisely what kind of products or services are actually being sold. Such business consider themselves "full service" providers for the customer and while this might generate more profits it cannot help but confuse the customer.
Nonexistent Business Plan
Marketing 101-"Don't begin a business without a Business Plan!" A business plan built on the promises and actions of others is doomed. The "dream" needs to be real and believable. Each step should be calculated and achieved by the efforts of one person - you. The company needs a foundation built upon the owners experience and knowledge.
Failing to Respond to Customers
Businesses need to react quick in this fast paced world to the concerns of their customers because a slow or delayed response will cost customers. The holidays are a prime example.
A customer in a hurry jogs into a department store and cannot believe that there are at least fifty people or more waiting in line to be helped.
A. Does he wait patiently in line for his turn? B. Will the manager open up another line?
Clearly, the right thing is B. To keep the customers from bolting towards the competition, the manager should open up another line.
It is easy to avoid some of the more common marketing mistakes once you see that you are guilty of committing them. Plot a course of action and check progress monthly. You may want to invest in a business consultant to help you get everything in order. It could be money well spent.
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