If you're getting ready to start your own small business, first off- congratulations! This is the beginning of an exciting new adventure that could potentially change the rest of your life. Getting a new business off the ground can be pretty stressful though, especially when it comes to marketing your new brand. To help you avoid these headaches, we're equipping you with some insight that could save your business from failing. Here are the top six marketing mistakes that small businesses typically make!
Not Having a Marketing Plan
This one's easy. There's no way to succeed at marketing if you have no plan for your marketing efforts. You may get lucky for a little while and see some growth without a marketing plan, but that won't last longterm. Before launching your new business, take some time to outline a marketing plan with advertising and social media efforts that will get new eyes looking at your company.
Not Understanding What Sets Your Business Apart
What makes your business different from the competition stacked up against you? It's crucial to know what sets your company apart from anyone else in order to sell your strengths. Make customers feel like they are getting something from your brand that they can't get anywhere else!
Trying to Sell to Everyone
Contrary to what you may think, not everyone in the world will be a potential customer. If you're selling a product or service, it very well may be appealing to a large audience, but you still need to create a specific target audience. This will make messaging and marketing so much easier to reach these people directly when you know who you're communicating with. If you're unsure of your target audience, try sending out a survey to potential customers and get some feedback about their demographics.
Having Poor Social Media Efforts
If you're not a social media expert, you need to hire one for your new business. Setting aside a budget for social media marketing can greatly benefit your company's overall success and profits. After all, most people are glued to their social media platforms all day so why wouldn't you want to reach them in the places they're already spending the most time? When it comes to social media marketing, it's important to identify a platform that you want to grow the most. It's okay to not spend all of your time developing each and every social media platform that is available. Start with one and make it as strong as you possibly can while setting clear goals for your marketing plan.
Underestimating Word of Mouth
When starting a business, free tools can oftentimes be some of the best tools. Word of mouth marketing is not only effective- it's also free! Connecting with your friends, family, and professional network is a great way to share the word about your new business without spending thousands of dollars on advertising during your early months of growth. Encourage your current clients and customers to spread the good word while rewarding them for sharing! Loyalty programs and referral discounts are a great way to create word of mouth advertising.
Not Evaluating the Competition
It's true that comparison can be the thief of joy, but it's important to keep an eye on your competition to see what's hot on the market. Stealing ideas from other brands is never okay, but using them as a source of inspiration and learning from their weaknesses can help your new business. Analyzing the competition may also reveal features of your business that other companies aren't touching on, which can really push you ahead of the competition!
If you need help getting your business off the ground, get in touch with us today. We would love to chat with you about how we can take your brand to new heights with a specialized marketing and social media plan!