Marketing costs a lot of money, so you need to make sure your marketing strategy is effective. Here are three mistakes that could be bringing down your marketing strategy.
1. Not knowing your audience. Whatever product you have, chances are not everyone wants or needs it, so why would you send out marketing messages to everyone? You need to eliminate all the people who have no use for your product. By cutting out those people you’ll not only save money on marketing materials, but you’ll also be able to hone in on the people who do want your product. Once you’ve done that you can customise your marketing plan to fit them, and that tailored plan will be more likely to catch their attention.
2. Not differentiating your product. Unfortunately you are not the only out there who provides goods and services. As unique and amazing as your product is there’s probably something else people can buy that does something similar. If you don’t differentiate your product or your company in some way there will be no reason why people should choose your product over something else. You must stand out, and in a good way.
3. Not being persistent. Persistence involves two things: following up with potential customers that you’ve sent marketing materials to, and upselling existing purchases. You need to follow-up with potential customers so that they remember who you are, and to make sure they received your marketing materials. You need to upsell existing purchases because once someone has decided to buy from you, a little extra doesn’t seem like much, and you can make a lot of money on those little extras. If you’re not following up or upselling then you’re losing potential customers and revenue.
If your marketing strategy doesn’t know its audience, differentiate your product or service, and isn’t persistent, then it’s not as effective as it could be. Fixing these issues will improve your marketing and increase your return on investment.