7 Marketing Mistakes Entrepreneurs Make

Don't slip when marketingOne of the reasons for failure in business is not being able to sell your product/service and this is caused by a poor understanding of marketing. A lot of people assume that marketing is only about promotion (communicating the product/service to the user) but it’s much more than that. I love this definition of marketing by Mark Burgess, marketing is “the process by which a firm profitably translates customers’ needs into revenue.” This process (traditionally) includes the product, pricing, distribution and promotion. It also requires planning, consistency and determination.

Effective marketing can be tricky and there is no one size fits all strategy but you have a better chance of succeeding if the following common mistakes are avoided. So here are some mistakes people (especially entrepreneurs and small business owners) make when marketing.

  • Assuming everyone is their target market or audience. You need to be specific about which segment of the population you need and should target. Also your target market should be large enough to meet your business goals. Don’t feel that you’re missing out on people not in your target market cause by focusing on a particular group, you’re able to serve them better.
  • Not knowing their customer. Discover what your customers wants, needs, preferences, values, dislikes etc. Learn from it and structure your product/service to meets their needs.
  • Getting overly attached to their product or service and not seeing it from the customer’s perspective.
  • Misplaced focus. Although social media marketing is the rave now but you should understand first what you provide or sell and how you will sell it before concerning yourself with social media endeavors.

marketing mistakes

  • Poor pricing. Pricing is not about what you want to earn but about what your customers can bear and the perceived value of what you’re doing, even if you think your product/service is the best thing since garri.
  • Not differentiating so their product/service doesn’t stand out. Find out what makes you unique and better than the competition and effectively communicate it to your target market.
  • Not giving employees marketing training thus employee behavior is not in alignment with your marketing strategy, core message and company values. This lack of consistency creates confusion in the mind of your target market which can keep them from doing business with you.

I want to hear from you. What other mistakes do you think businesses make in marketing? Let me know in the comments.

 

PS: Want to know how to define your target market? Well on Monday (6th Oct), i”ll walk you through the process. Please don’t miss it or subscribe to this blog to ensure you never miss an article. Thanks

Emem Ita

Emem Ita

Hello, my name is Emem. I'm a marketing & social media strategist with a flair for reading, research, pretty shoes and luscious cake.

Learn how to turn your knowledge & expertise into income by building online influence. Interested? Simply send an SMS now with your name & email to 08061683126
Emem Ita
About Emem Ita

Hello, my name is Emem. I'm a marketing & social media strategist with a flair for reading, research, pretty shoes and luscious cake.

Learn how to turn your knowledge & expertise into income by building online influence. Interested? Simply send an SMS now with your name & email to 08061683126

Speak Your Mind

*