Advertising & Marketing mistakes business make which you must avoid
The world of commerce and trade is shaped by different factors with different market segments and niches all confronted by different market dynamics.
The bottom line for these businesses at a small, medium and large-scale level is to sell more and reap returns on investment. With a limited market and reduced disposable income by households and expenditure by businesses, the need to reposition and attract potential buyers becomes critically imperative.
It’s from this background that effective and cost-effective advertising and marketing become the core pillars of a thriving business enterprise. In harnessing the power of advertising and marketing, there are some mistakes which must be avoided.
Advertising and Marketing mistakes you must avoid
What can marketing and advertising be without a budget? Failing to budget is setting yourself up for business failure. While a budget can be readjusted due to arising cost implications, you must never make a mistake of not having a budget. A good advertising budget must contain a healthy combination of acquisition and retention at the same time. Attracting new customers is a good thing but it serves little purpose if you can’t return old customers. It’s a no brainer also that it’s easier to sell to old customers than to new customers.
Lack of goals
Goals, Goals and Goals should be at the heart of an advertising and marketing plan. If you don’t know what you want to achieve and when that should be achieved, how will you achieve?
According to WebFX, Lack of goals and goal tracking are some of the biggest mistakes’ businesses make. Your goals must be specific, measurable, achievable, realistic and time-sensitive.
Not being mobile-friendly
Digital research shows an increasing number of consumers are using mobile to access product and services. You must therefore avoid the mistake of not being mobile-friendly.
Your mobile and desktop functionalities must be aligned to ensure prospective customers experience user friendlessness, quick page loading and easy to navigate pages.
Wrong targeting
Audience in marketing and advertising is the bread and butter. Failing to accurately assess the audience can break or make any marketing and advertising campaign. Make sure you carry out market research on aspects of age, gender, income levels and levels of demand for products and services.
Then you can properly tailor your advertising and marketing based on this information. Wrong targeting is shooting in the dark and may just be a waste of time and financial resources.
Ignoring social media
Don’t ever ignore social media. Social media has become the place to be for advertising and marketing. You can maximise on the use of social media by creating and maintaining accounts, creating relevant and attractive content and distributing that content across multiple platforms.
Culture
Different societies and communities are anchored around a common culture and strong values which they subscribe to. You must not make a mistake of overlooking the power of traditional and social culture in driving advertising and marketing campaigns.
You need to consider the unique beliefs, values and personality traits of a targeted audience before you roll out any plans. Avoiding the mistakes listed above will assist you to reap good returns on your advertising and marketing plans and achieve business growth.
Visit Guzzle to see how you can take advantage of their highly targeted retail advertising.
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