The goal of every business is to make as much profit as possible, and this can can’t be possible without customers or clients. That’s one of the reasons marketing, especially digital marketing, which helps companies achieve these goals, has become such a hot buzzword in the financial world, especially among startups and entrepreneurs.
Nevertheless, as great as marketing is, many companies falter in achieving their marketing goals because of some common marketing mistakes they can resolve with the right know-how. That’s why we talked to Jurgen Cautreels, an expert in marketing and investment. These are the mistakes he pointed out.
Insufficient Research and Evaluation
One of the most prevalent marketing blunders is ignoring research and testing. Before launching a single campaign, conducting market research and testing can help you predict how your campaign will perform; there are several tools for this.
Using them lets you get an idea of how the public would react to your marketing initiatives before going through the implementation process.
Not Paying Proper Attention to Branding Positioning
Brand positioning is critical when building a distinct identity for your organization, says Jurgen Cautreels. Every time you introduce a new service or product, it builds on the prior one. This is called strategic market positioning.
Many companies, however, focus solely on selling individual products without considering how their brand is viewed. They must then start from scratch with each new marketing campaign, which can be time-consuming, costly, and effort-intensive.
Not using a Unique Selling Point
Your unique selling proposition, often known as your USP, is a statement that summarizes what separates you from other businesses in your industry. It demonstrates how your product’s advantages directly answer customers’ requirements in a way that no other product does.
Are you tackling a unique problem no one is taking care of yet? Making products of luxury quality that are affordable? Are you attempting to sell a particular way of life?
Do you make use of materials or resources in a way that is novel and appealing? Your USP should talk about what value you bring to the table.
Customers are bombarded with several marketing messages that compete with one another for their attention. If you do not present them with a USP, they may lose your company in the cacophony of the competition, says Jurgen Cautreels.
Not Keeping Tabs on the Results
It’s common for business owners, whether they’re new to the game or seasoned veterans, to fail to keep careful track of their various marketing efforts. It makes no difference if they are on the internet, on television, in newspapers, or even on billboards.
To establish whether or not your marketing funds are being spent wisely, granular tracking is an absolute must. Digital tracking is the easiest to do since interactions online leave trails that the right tools can pick.