5 Marketing Mistakes to Avoid as a Small Business
There’s a reason why brands spend so much time creating their marketing plans. Marketing can make or break a business. Small businesses don’t have as much money to work with, so they tend to be more limited on the things they can do. Because of this, some smaller brands base their marketing efforts on assumptions. Unfortunately, this isn’t the best idea. Having a small margin of error, you can’t afford to guess on what works. You must know.
Below are five marketing mistakes to avoid as a small business.
1. You retarget everyone.
Not everyone visits your website to buy your product or service. Therefore, it’s not necessary to retarget every visitor who bounced off your site. Rather than wasting your resources on people who don’t have an interest in your product, stick to those who are more likely to convert.
To do this, segment bounced visitors into different groups based on how many pages they viewed, how much time they spent on the site, whether they viewed certain product categories, etc. Use this information to retarget visitors accordingly.
2. You aren’t investing in social media marketing.
Social media is a powerful tool that you can’t overlook. Surprisingly, 68% of small businesses aren’t taking advantage of social media marketing. Time and money are the main reasons why, but you’re only losing business if you don’t take social media seriously. Start by identifying your audience, selecting key success metrics and analyzing the metrics. Don’t rush into too many platforms. Use one and grow from there.
3. You’re enjoying too many one-sided conversations.
Marketers continue to spend more and more on content, but some of the best stuff comes directly from your customers – and it’s free! People like seeing user-generated content because it’s authentic and genuine. Whether it’s social media posts about your brand, a mention of your product in a guest post or a testimonial from a satisfied customer, use this content to your advantage.
4. You only focus on bringing in new sales.
It costs six times more to win over a new customer compared to an existing one. We’re not saying to stop spending on acquisition costs, but don’t spend all of your money here. Use a good portion of your budget to sell to existing customers, too. Not only are they more likely to buy, but also they take up fewer resources. The key to long-term success is to attract and retain customers.
5. You’re not looking at your data.
With the available tools for collecting and analyzing data, you don’t need to guess on what works. Gather the appropriate data and take the time to understand it. You can build more effective campaigns this way, helping you to reach your goals and make changes in real time.
By avoiding the five mistakes listed above, you can bring your small business more success, even in a competitive marketplace. WSI Star Web specializes in social media and online marketing services for small and mid-sized businesses. Schedule a consultation to hear more about how we can utilize your resources to bring in more sales!